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Moneylife Digital Team 04 May 2011
Private sector Yes Bank raised its base rate and benchmark prime lending rate by 0.5% to 9.50% and 19%, respectively A day after the Reserve Bank of India (RBI) hiked its key short-term lending and borrowing rates by 0.5% each, private sector Yes Bank on Wednesday raised its base rate and...

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Moneylife Digital Team 04 May 2011
Punjab National Bank’s total income rose 31.2% to Rs8,586 crore in the March 2011 quarter compared to Rs6,460.7 crore in the same period last year The country's second largest public sector lender Punjab National Bank (PNB) today posted a 5.8% increase in net profit at Rs1,201 crore for the...

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Moneylife Digital Team 04 May 2011
Sun Pharmaceutical subsidiary—Sun Pharma Advanced Research Company—has received abbreviated new drug approval from US Food and Drug Administration for Docefrez Sun Pharmaceutical Industries today said its unit has received US health regulator's approval for generic docetaxel injection, used...

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Moneylife Digital Team 04 May 2011
For all home loans sourced by IndusInd Bank, the processing, disbursement and servicing functions will rest with HDFC IndusInd Bank (IBL) has signed a memorandum of understanding (MoU) with HDFC. According to the tie-up, IBL's nation-wide branch offices spread across the country will source...

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Moneylife Digital Team 04 May 2011
Jet acquired Sahara Airlines in April 2007 for Rs1,450 crore after an arbitration award. It paid Rs900 crore and agreed to pay the balance in four instalments Mumbai: The Bombay High Court today asked Jet Airways to pay Sahara India Rs478 crore within two weeks on account of default in its...

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Moneylife Digital Team 04 May 2011
The pilots, who struck work from midnight last Tuesday, have been demanding pay parity with their colleagues of erstwhile Air India, better working conditions and CBI inquiry into alleged withdrawal of flights from profitable routes, aircraft purchase and other issues Mumbai: Air India (AI)...

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Moneylife Digital Team 04 May 2011
Wall Street closed mixed on Tuesday on fears of lower earnings estimates and tracking the decline in the US markets, the ones in Asia opened lower on Wednesday The local market is likely to see a lower opening today on lacklustre global cues. The market, which settled sharply lower yesterday...

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Moneylife Digital Team 03 May 2011
Sell the rallies. The next support for the Nifty lies at 5,300 Today, the Sensex and Nifty fell by 2.44% and 2.39%, taking a knocking from the larger-than-expected rate hike announced by the Reserve Bank of India (RBI) in its annual monetary policy. This is the biggest drop in the...

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Moneylife Digital Team 03 May 2011
A division bench headed by justice BD Ahmed, which heard the matter thrice during the day said, "These pilots do not understand the gravity of being prosecuted for the contempt of court" New Delhi: The Delhi High Court today issued contempt notices to nine sacked office bearers of the Indian...

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Moneylife Digital Team 03 May 2011
The New Fund Offer opens for subscription on 9th May and closes on 19th May. No entry and exit load is applicable Kotak Mutual Fund will open the New Fund Offer (NFO) Kotak FMP Series 46, a close ended debt scheme with the duration of 370 days from the date of allotment of units. The NFO...

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Moneylife Digital Team 03 May 2011
However, RBI’s move will raise the cost of borrowing for banks which leverage high on their CASA funds Interest rates on money lying in savings bank (SB) accounts will go up by half a percentage point, with the Reserve Bank of India deciding to hike rates to 4%. Deposit-holders in SB accounts...

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Moneylife Digital Team 03 May 2011
The bank is scouting for a strategic partner, and will enter the business by January next year The country's fourth-largest public sector lender, Bank of India (BOI), is planning to re-enter the mutual fund (MF) business by January 2012. The bank has already started scouting for a strategic...

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Moneylife Digital Team 03 May 2011
Tech Mahindra wins multi-million dollar BPO business in the Philippines, will also expand its footprint in Africa Tech Mahindra, India's fifth largest software exporter has announced its plans to set up BPO operations in the Philippines. The company has recently signed a multi-million dollar...

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Moneylife Digital Team 03 May 2011
Dabur has identified health care as a key growth area for the future and it is looking at opportunities in both the domestic and international markets Dabur India, one of the major players in India’s natural health segment, has entered into an agreement to acquire Ajanta Pharma’s OTC brand ‘30...

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Moneylife Digital Team 03 May 2011
The joint venture company will manage the Sri Lankan company’s customer contact management operations across its mobile, fixed line, pay television and broadband businesses BPO service provider Firstsource Solutions today said it that it will acquire a 74% stake in Sri Lanka’s telecom service...

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Moneylife Digital Team 03 May 2011
Under the proposal, the National Iranian Oil Co (NIOC) will open rupee accounts with Indian banks and can use the money to purchase non-strategic items like railway imports and buying commodities. It cannot however use the money to invest in India or buying shares or companies New Delhi: With...

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Moneylife Digital Team 03 May 2011
With this acquisition, MPSEZ doubles its present balance sheet size and adds 50 million tonnes capacity. Mundra Port operates ports at Mundra and Dahej and is developing ports at Hazira and coal terminals at Mormugao New Delhi: Mundra Port & Special Economic Zone (MPSEZ), a unit of Adani...

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Moneylife Digital Team 03 May 2011
US markets closed marginally lower on Monday while the Asian pack was in the red in early trade today as investors focussed on economic recovery The Indian market is likely to open lower on unsupportive global cues and cautiousness ahead of the Reserve Bank of India’s announcement of the...

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Moneylife Digital Team 02 May 2011
A move above Monday’s high may signal a change in trend. Or else… As expected the market fell today for a sixth consecutive day. Both the Nifty and the Sensex have fallen for six days in a row. In the last six days, the Sensex declined 604 points and the Nifty lost 183 points. In the...

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Moneylife Digital Team 02 May 2011
In January this year, the Malegam Committee had suggested a cap on the interest rates charged by micro finance institutions (MFIs) at 24% and also limiting the total loan cap to an individual at Rs25,000 New Delhi, May 2: The Reserve Bank of India (RBI) is likely to set different credit limit...

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