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Deustche
AMC to launch bond fund
Mumbai: Deutche Asset Management Company (AMC)
is to launch an institutional bond fund targeted at the
big corporates, banks and high net-worth individuals.
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Improve
macro-economic policies for BoP safety: Jalan
Mumbai: The Reserve Bank of India governor Dr Bimal
Jalan highlighted the need for pragmatic and realistic
macro-economic policies for safeguarding balance of payments
in emerging markets.
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FinMin
calls stakeholders meet before finalising recast of RRBs
New Delhi: The Ministry of Finance has convened
a meeting with the other stakeholders of the regional
rural banks before it finalises its verdict on the recommendations
of the Chalapathy Rao Committee, set up to suggest the
revival path for RRBs.
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DTA
receipts from SEZ allowed credit in EEFC account
Mumbai: The RBI has decided that payments received
in foreign exchange by a unit in DTA for supply of goods
to a unit in Special Economic Zone from its foreign currency
account will be treated as eligible foreign exchange earnings
for the purpose of credit to the Exchange Earner’s
Foreign Currency Account.
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ICICI
Bank eyes 30 per cent share in retail credit market
Mumbai: ICICI Bank is targeting a market share
of 25 to 30 per cent of the burgeoning retail credit segment
from banking industry in the country.
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Goldquest
plans to set up mint in Bangalore
Bangalore: Goldquest International, a Hong Kong-based
multi-level marketing company dealing in numismatic and
medallion collectibles, plans to set up a mint in Bangalore
at the cost of $25 million and has approached the Reserve
Bank of India for permission.
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ICICI
Bank offers to help Federal, South
Indian Bank
Mumbai: ICICI Bank has said that it was open to
providing resources to support the capital base of both
Federal Bank Ltd and South Indian Bank.
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SBI,
BoI going in for US GAAP
Mumbai: State Bank of India and Bank of India are
going in for US GAAP. This is viewed as a prelude to listing
by the banks in a US exchange. SBI has already appointed
global consultancy firm PricewaterhouseCoopers to advise
the bank.
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Corpn
Bank, Bank of Rajasthan to share teller machines
Mangalore: The Mangalore-based public sector Corporation
Bank and the private sector Bank of Rajasthan signed an
agreement in Jaipur on Wednesday for the mutual sharing
of their automated teller machine networks.
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Banks
meet today on Roofit asset seizure
Bangalore: A consortium of banks led by Karnataka
Bank may soon invoke the Securitisation Act to seize the
assets of Roofit Industries Ltd, manufacturer of asbestos
cement sheets, to recover about Rs 250 crore in advances
and interest due.
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BoI
cuts deposit rates
Mumbai: Bank of India (BoI) has revised interest
rates on domestic rupee term deposits of less than Rs
1 crore, downwards by 25-40 basis points, in the maturity
buckets of `40 days to 90 days and above'. The new rates
will be effective from December 18.
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