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Peerless focus on new biz
In keeping with the Reserve Bank of India (RBI) guidelines for the Residuary Non-Banking Finance Company to exit deposit-taking business by March 2011, Kolkata-based Peerless General Finance & Investment Company scaling down its RBFC operations, while focusing on new business lines like asset and wealth management.

ONGC plans to take Rs 4k cr loan to refinance OVL's debt
Oil and Natural Gas Corp plans to raise a term loan of about Rs 4,000 crore to refinance the debt its overseas investment arm had taken to buy UK-based Imperial Energy Corp.

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Sun TV rejigs its distribution biz
Sun TV Network is planning to restructure its distribution business and team with a creation of two verticals — South India operations and International business and the second would focus on expanding Sun TV bouquet into the north, west and eastern markets of India.
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Bank of India raises Rs 500 cr through bonds

Public sector lender Bank of India (BoI) today said it has raised Rs 500 crore through the issue of bonds in the market. - IOB Q1 netup 18% to Rs 302 cr - PNB Q1 net rises 62% to Rs 832 cr - Corporation Bank Q1 net up 42% at Rs 261 cr - "Rs 6,400-cr advances restructured" - Little room for immediate cut: Bankers - FII-TO-FII: Grasim Ind traded at 3% premium "The bank has raised capital through issue of bonds of Rs 500 crore on July 28," Bank of India said in a filing to the Bombay Stock Exchange (BSE). The coupon rate of bond is 8.45 per cent per annum, it added. Shares of Bank of India were trading at Rs 317.30, down 0.47 per cent in afternoon trade on the BSE.


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