ICICI launches `Direct Alerts'
Mumbai: Online share trading service, ICICIdirect.com, has launched `Direct Alerts', a facility that gives "pre-specified alerts to customers through short messaging service''.
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Ripples in `The Millionaire Club'
Mumbai: Karvy and Bajaj Capital, two leading distributors of financial products, are sparring over an interesting investment concept, named by the former as `The Millionaire Club'.
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Kotak MF scheme with exposure to US T-Bills
Mumbai: Kotak Mahindra Mutual Fund plans to launch a new close-ended scheme K US Treasury that will provide Indian investors an opportunity to invest in US Treasury Securities.
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Savings bank deregulation not now
Mumbai: The Reserve Bank of India has practically ruled out deregulating savings bank rates for now. "We cannot do it right now," said the RBI Governor, Dr Bimal Jalan.
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NPA Ordinance may cover urban co-ops too
New Delhi: The first major change in the Ordinance for recovery of non-performing assets (NPA) is in the offing with the Government agreeing to widen its scope to include urban co-operative banks (UCBs) under the new legal dispensation.
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IFCI may be denied access to EPF funds ICICI also to be struck off PFI list
New Delhi: The finance ministry is planning to knock off the troubled financial institution IFCI as ell as ICICI from the list of eligible public financial institutions whose bonds can be subscribed to by provident funds.
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Western Union to tie up with banks, FIs
Mumbai: Western Union Financial Services is planning expand its operations by tying up with banks and financial institutions. Mr Anil Kapur, Director General-India, Western Union, said that Western Union has seen a 75 per cent increase in revenues
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Catholic Syrian AGM to take up insurance foray
Thrissur: The 81st annual general meeting of the Thrissur-based Catholic Syrian Bank (CSB) proposes to move a special resolution for suitably altering the `Objects' clause of the memorandum of association to enable the bank enter insurance business.
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UTI Bank to raise capital Eyes foreign investors for pvt placement
Mumbai: UTI Bank is looking for foreign investors to privately place close  to Rs 200 crore equity. The bank proposes an equity dilution of about 12-15 per cent in the third quarter of this financial year.
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IDBI Bank unveils products for SMEs
Mumbai: IDBI Bank has announced the launch of two new products targeted at the small and medium business clientele in Andhra Pradesh, which it claimed would enable the clientele avail of significant savings on their transactions.
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IDBI Bank opens Kochi branch
Kochi: IDBI Bank opened its Kochi branch on Monday. It is the bank's fourth branch in the State, 18th branch in the South and 83rd in the country. With the renewed thrust on retail banking, the focus will be on providing value-added services to the customers.
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RBI optimistic on growth forecast: Jalan
Mumbai: The Reserve Bank of India governor Dr Bimal Jalan on Monday said that the central bank is optimistic about its forecast of achieving 6-6.5 per cent economic growth during the current fiscal.
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Big corporate houses in RBI defaulters list
Mumbai: Big corporate houses including Sanghi, Sol Pharma, Siris, Pennar are among the top five defaulters from Andhra Pradesh that figured in the recently released RBI report.
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Delhi Defaulters owe Rs 7,200 crore to banks
New Delhi: Banks and financial institutions accumulated about Rs 7,200 crore NPAs due to non-payment of loans by wilful defaulters in the Delhi region.
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