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Tata
AIG unveils full-life cover
Mumbai: Tata AIG Life Insurance on Wednesday launched a new
policy MahaLife a whole life insurance cover that doubles up
as an annuity plan, and generates guaranteed annual tax free income.
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HDFC
subscribes to 6.9% preference shares of RIL
Mumbai: HDFC Ltd has subscribed to 6.9-per cent redeemable
preference shares of Reliance Industries Ltd, aggregating Rs 200 crore.
The coupon of 6.9 per cent is perhaps the lowest-ever offered by an
Indian company on preference shares.
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Indian
Bank NPA: Top eight defaulters account 45%
Chennai: Indian Bank financial woes have been caused by just
eight defaulters who owe Rs 1,000 crore to the Indian Bank.
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Geojit
assurance on site security
Kochi: Geojit Securities Ltd has assured all its customers that
the company has implemented world-class security systems and that its
website and database are fully safe.
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Cauvery
Grameena Bank shows micro-credit as growth catalyst
Mysore: As a successful demonstration that the poor are
bankable and micro-finance-sustainable, Cauvery Grameena Bank, Mysore,
has become a role model for micro-credit in rural development.
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Panel
for reducing government stake in RRBs
New Delhi: The committee on restructuring of regional rural
banks is understood to have suggested that the government holding in
these banks should drop to 33 per cent from the existing 50 per cent
while the sponsor banks should increase their stake.
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NRIs
hail decision on repatriation of funds
Kochi: The non-resident Indians in the United Arab Emirates are
pleased with the decision of the Reserve Bank of India to permit
repatriation of funds for specific purposes from the non-resident
ordinary rupee denominated accounts in Indian banks.
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Margadarsi
aims at Rs 2,000-crore turnover
Hyderabad: The Hyderabad-based Margadarsi Chit Fund expects to
achieve a business turnover of Rs 2,000 crore in the current year, as
against Rs 1,750 crore in 2001-02, the company's managing director
Sailaja Kiron said on Wednesday.
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Kotak
Mahindra issue gets Crisil's AAA (SO)
Mumbai: Credit Rating Information Services of India Ltd (Crisil)
has assigned a AAA (SO) rating to Kotak Mahindra Finance Ltd's Rs
83-crore securitisation programme.
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ICRA
downgrades IDBI's long-term ratings
New Delhi: ICRA has announced a downward revision of the
long-term rating of IDBI from LAA+ to LAA. The revised ratings also
indicate high safety as earlier, but at a lower level.
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RBI
may shift to risk-based supervision of banks
New Delhi: The system of annual inspection of banks by the
Reserve Bank of India may soon be a thing of the past. The central
bank is expected to follow a system of random and more frequent
inspections based on the risk profile of individual banks.
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Good
response to APSFC campaign
Hyderabad: The one-day business development campaign organised
by the Andhra Pradesh State Financial Corporation on Wednesday
elicited good response from entrepreneurs, with 32 projects involving
an investment of Rs 34 crore having been okayed.
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IDBI
seeks Rs 45 crore for selling stake in AMC
New Delhi: Industrial Development Bank of India has reportedly
sought close to Rs 45 crore to sell about 21 per cent stake in IDBI
Principal AMC to its joint venture partner, the US-based Principal
Financial Group.
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Govt
to introduce put, call option in market borrowings
New Delhi: The government has taken a decision to introduce a
put-and-call option in the next tranche of its market borrowings. An
in-principle decision to introduce this has been taken and the Reserve
Bank of India, the government's debt manager.
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HDFC Bank
launches gold card
Mumbai: HDFC Bank launched its International Gold Credit Card
on Wednesday. The gold card has higher limits over the silver card
that was launched in February. The gold card enables one to withdraw
cash up to 40 per cent of the credit limit.
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