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Urban
co-op banks want RBI to relax call, equity dealing norms
THE National Federation of Urban Co-operative Banks (Nafcub) has requested
Reserve Bank of India (RBI) governor Bimal Jalan, to reconsider its decision
on various issues concerning UCBs’ borrowings in the call money market,
withdrawal of facility of loans against shares and acceptance of pay-orders
by other commercial banks.
Allianz,
Dresdner merger still on schedule
GERMAN insurer Allianz AG said on Thursday that its takeover
of Dresdner Bank was proceeding according to plan but remained silent
on key details despite investor doubts about its benefits.
Union
Bank clocks Rs 155-cr net
THE Union Bank Of India (Union Bank) has registered
a 54 per cent growth in its net-profit to Rs 155 crore for the fiscal
ended 2000-2001 from Rs 101 crore in the preceding fiscal. This was after
providing Rs 106 crore as amortisation towards the bank’s voluntary retirement
scheme (VRS).
‘Fed
rate cut may not trigger inflation’
US inflation levels are unlikely to pose any problem for the
rest of this year or next year, despite cuts in interest rates, chief
White House economic adviser Glenn Hubbard said on Thursday.
Deshmukh
convenes meet to discuss Dabhol crisis
Maharashtra Chief Minister Vilasrao Deshmukh has convened
a crucial meeting on Saturday with state officials, the Maharashtra State
Electricity Board (MSEB), the advocate general and legal experts to take
stock of the situation of the ongoing Dabhol crisis.
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