Four new HDFC Bank branches in Kerala
Kochi: HDFC Bank has opened four new branches in Kerala. With the addition of branches at Changanassery and Manjeri and two new branches in Ernakulam and Aluva, the bank will now have a network of 15 branches across the State.In Kerala, the bank has also branches in Kozhikode, Kannur, Kollam, Kottayam, Palakkad, Thrissur, Thiruvalla and Thiruvananthapuram.
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ECGC offers marine insurance as add on
Mumbai: The Export Credit Guarantee Corporation (ECGC) and National Insurance Company Ltd have decided to come together to provide marine insurance as an `add on' facility to exporters who opt for ECGC's specific shipment policies for comprehensive risks from the next fiscal.

The credit insurance, along with marine insurance, will be available without any additional cost. Initially while this will be offered only to specific shipment policies.The two companies signed a memorandum of understanding for promoting and expanding exports of small and medium size enterprises.
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IDBI in Rs. 82 crore securitisation of home loans
Mumbai: IDBI Bank has completed a Rs 82-crore securitisation of its home loan portfolio. The mortgage-backed securitisation (MBS) is in 3 tranches, spread across seven investors. A significant feature of the securitisation is that it incorporates accentuated prepayment protected and prepayment prone tranches.
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GAIL bonds subscribed for in minutes
Bangalore: A bond issue by GAIL for Rs 500 crore has been lapped up barely minutes after offer at a coupon of 5.85 per cent. The issue does not have any call or put options.Earlier issuers such as the Power Finance Corporation, Indian Railway Finance Corporation, PowerGrid Corporation, Konkan Railway Corporation Limited, Exim bank and Power Finance Corporation also found their respective issues oversubscribed barely 12 hours after inviting the offers.

All these issuers had priced their respective private placement at rates close to that of GAIL. The amounts raised varied from Rs 250 crore to Rs 500 crore. Most of these issues are now listed on the National Stock Exchange to conform to the new guidelines of the Securities Exchange Board of India and the RBI.
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