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Rupee
up 15 paise
Mumbai: The rupee closed stronger by about 15 paise
at 46.3325/3450 against the dollar on Monday.
Forwards Market: The six-month closed at 2.35 per
cent (2.60 per cent) while the twelve-month ended at 1.91
per cent (2.05 per cent).
G-Secs: The yield on the ten-year benchmark 7.37
per cent 2014 paper closed at 6.23 per cent with the 11-year
benchmark matching the yield rise.
Call rates: Easy at 4.25 per cent.
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IRDA
revokes suspension of Mass Insurance Brokers
Hyderabad: The Insurance Regulatory and Development
Authority (IRDA) has announced a decision revoking the
suspension imposed on the licence of one of the direct
insurance brokering companies - Mass Insurance Brokers
Pvt Ltd based at Noida. According to the IRDA, on thorough
examination of the matter and considering the assurances
of the broking company, it was decided that Mass Insurance
Brokers should be given a second opportunity and therefore
the suspension order was revoked with immediate effect.
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Oriental
Insurance fiscal net at record Rs.322 crore
New Delhi: The Oriental Insurance Co Ltd has registered
a record net profit of Rs.322 crore for the fiscal ended
March 31, 2004, as against Rs.63.99 crore in the previous
year. Profit before tax rose to Rs.454.33 crore against
Rs.175.89 crore in the previous year. Net incurred claims
rose to Rs.1, 587.64 crore (with net incurred claims ratio
standing at 78.1 per cent) from Rs.1, 466.55 crore (77.3
per cent).
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Toyota
and New India Assurance tie up
Mumbai: Toyota Kirloskar Motor Company and New
India Assurance have announced point of sale insurance
for all Toyota vehicles. Under the tie-up, Toyota customers
would be able to insure and avail post-accident, near
cashless repairs of insured vehicles at the manufacturer's
showrooms nationwide. Toyota-New India Assurance will
offer customers instant issue of new policies and their
renewal, besides completing all related transactions at
the showroom itself. Toyota is hiking the number of its
showrooms from 42 to 60.
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