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SBBJ
net up 32 per cent to Rs 159 crore
New Delhi: State Bank of Bikaner and Jaipur announced
a 32 per cent growth in net profit at Rs 158.60 crore
in the first nine months of 2002-03, while slapping notices
on 441 defaulters to reduce non-performing assets further
from 4.2 per cent till December.
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IBA
moots 100 bps cut in savings rate
Kolkata: Indian Banks Association has once again
proposed to the Centre for a reduction of savings bank
account rate by at least 100 basis points to three per
cent considering the the downward trend in the domestic
interest rate scenario.
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IDBI
continues to perform developmental role
New Delhi: The government on Monday assured the
parliamentary standing committee on finance that the Industrial
Development Bank of India would continue to perform its
developmental role.
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EIB
to give 50 million Euro credit to Rabo Finance
New Delhi: European Investment Bank has agreed
to extend credit to the tune of Euro 50 million to Rabo
India Finance. The credit will be a mix of a credit line
and a loan.
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PNB
nine-month net profit up 46.6 pc
New Delhi: Punjab National Bank has recorded a
net profit of Rs 601.66 crore for nine months ended December
31, 2002, a 46.6-per cent rise compared to Rs 410.28 crore
in the corresponding period last year.
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Corpn
Bank cuts rates on home loans
Mangalore: Corporation Bank has decided to reduce
its interest rates on home loans with effect from January
28.
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Corpn
Bank to organise home loan fair
Mangalore: State-owned Corporation Bank plans to
organise a two-day Home Loan Fair at Bangalore with an
aim to unite architects, builders, contractors and several
related professionals on a common platform.
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M&M
Fin offers `loan suraksha'
Mumbai: Mahindra & Mahindra Financial Services
Ltd (MMFSL), a subsidiary of Mahindra & Mahindra Ltd
(M&M), has announced a group life insurance plan called
`Mahindra Loan Suraksha,' in league with OM Kotak Mahindra
Life Insurance Company Ltd .
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Bajaj
Allianz to grow bancassurance channel
Karur: Karur Vysya Bank, which has entered into
a bancassurance agreement with Bajaj Allianz General Insurance
Company, expects to sell enough policies to earn the insurer
a premium of Rs 25 crore in the first full year of operations.
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Union
Bank in pact with DSP Merrill Mutual Fund
Mumbai: Union Bank of India has tied up with DSP
Merrill Lynch Mutual Fund for the distribution of the
latter's mutual fund products through the bank's branches.
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Dena
Bank plans Rs 100-cr bond issue this year
Mumbai: Dena Bank plans to raise up to Rs 100 crore
of tier II capital through bonds in the current fiscal,
according to the bank's Chairman and Managing Director,
A.G. Joshi.
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Exim
Bank extends $200-m line of credit to Iran
Mumbai: Export-Import Bank of India (Exim Bank)
has extended a $200-million line of credit to Iran to
finance India's exports to that country.
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