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CCIL
to start cross currency settlement
Mumbai: The Clearing Corporation of India is soon
to extend its settlement services for cross currency transactions
at the rate of $3-$4 per transaction. It currently acts
as a settlement agent for all dollar-Re transactions in
the domestic foreign exchange market.
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Corporation
Bank to pay 30 per cent interim dividend
Mangalore: The board of directors of Corporation
Bank has proposed an interim dividend of 30 per cent for
the financial year 2003-04 at a meeting held on December
29, subject to approval of the Reserve Bank of India.
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`No
plan to turn Cholamandalam Financial into bank'
Hyderabad: Cholamandalam Financial Services Group,
the Chennai-based non-banking finance company from the
Rs 4,200-crore Murugappa stable, has said converting the
NBFC into a bank "could be an option" but "there
is no proposal as of now in that regard."
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