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Allianz
Floats IT Arm
Mumbai: Germany's largest insurer Allianz is expanding
its exposure by setting up an exclusive subsidiary for
IT-related services and by treating India as a regional
hub for its grand south-Asian plan.
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Maharashtra
banks may sell stamp paper
Mumbai: In the wake of the multi-crore Telgi stamp
paper scam, the Maharashtra government is now considering
a proposal to allow banks to sell stamp paper.
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Kerala
to have world's first-ever floating ATM
Kochi: Kerala has almost all banks both nationalised
and private competing with each other for providing more
and more value-added services. The latest in this series
is going to be a floating ATM, first of its kind in India
and perhaps in the world.
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PNB
plans to network 2,500 branches by 2005
Chennai: Punjab National Bank expects to connect
2,500 of its branches by March 2005.
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Union
Bank to market HDFC Standard Life products
Thiruvananthapuram: Union Bank of India launched
the marketing of life insurance and pension products from
HDFC Standard Life in the Thiruvananthapuram Region on
Monday.
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IOB
in pact with TTK group for NRI services
Kochi: Indian Overseas Bank has tied with TTK Services
for offering a range of services to NRIs including healthcare
to dependants and property services in India.
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IDBI
to get Rs 2,500-crore recap assistance
New Delhi: Backed with the assurance from the Finance
Minister, Mr Jaswant Singh, that the Government would
provide Rs 2,500 crore for the recapitalisation of IDBI
spread over five years, the Parliament on Monday cleared
the Industrial Development Bank of India Repeal with the
Rajya Sabha giving its assent to the Bill. The Bill seeks
to convert the financial institution into a universal
bank.
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Crisil
rating for Federal Bank FDs
Kochi: Crisil has assigned the highest rating P1+
to short-term fixed deposits of Federal Bank.
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