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AIG
set for BPO foray
Having already a significant presence in the Indian insurance
sector, American International Group Inc (AIG), the US-based
insurance and financial services giant, is now keenly
looking at direct investment opportunities in emerging
sectors such such as information technology, IT-enabled
services (ITES), biotechnology, pharmaceuticals and financial
services.
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Rate
cut to boost HDFC growth in Gulf
Abu Dhabi: HDFC is looking to consolidate its growth
in the Gulf region though various initiatives aimed at
reaching out to the NRI community. The corporation's announcement
last month of a further drop in lending rates on housing
loans for NRIs is also is also expected to give a boost
to its business in this region in the coming months.
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RBI
signals yield levels to market
Mumbai: Bond markets remained ranged for the second
straight week as aggressive open market operations limited
any falls in yields. Ten-year yield to maturity (YTM)
ended the week at 6.44 per cent on a weighted average
basis, as against 6.45 per cent last week.
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ICICI
Bank moves to recall Rs 250-cr loan to SPIC Petro
Mumbai: ICICI Bank has initiated recall of its
loan of Rs 250 crore to SPIC Petrochemicals Ltd of the
A.C. Muthiah group. The bank had initiated activity for
the recall, and the issue would soon come up before the
Debt Recovery Tribunal, as per the company source.
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Andhra
Bank lowers rate on loans to self-help groups
Hyderabad: Andhra Bank has decided to reduce the
interest on loans to self-help groups (SHGs) by one per
cent from the existing 10.5 - 10.75 per cent, irrespective
of the quantum of loan.
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HDFC
sees lower cost of funds fuelling faster retail growth
Mumbai: Housing Development Finance Corporation
Ltd has gained from a substantial fall in its cost of
funds, and expects its retail lending business to grow
even more strongly this quarter, managing director Keki
M Mistry said here Saturday.
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