Anagram Securities opens branch in Karnataka
Bangalore: Anagram Securities Ltd, the stock broking arm of the Lalbhai group, has opened its branch in Karnataka.
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No approval sought to sell holdings: UTI
New Delhi: The Unit Trust of India (UTI) has said that it has not sought the approval of the Government to sell its holding in any specific company like ITC Ltd. According to the Minister of State for Finance, Mr Anand G. Geete, the UTI has not sought permission from the Government to sell its holding in any company or buyer.
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Tata MF plans to tap retail, high net worth investors
Kolkata: Tata Mutual Fund has lined up an income scheme with separate investment options for retail and high net worth investors. Christened Tata Income Plus, the scheme will add to the fund's growing list of debt-oriented products.
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Annuity plan with definite returns `not feasible'
Chennai: As things stand today, a pension provider will have to mandatorily provide an annuity plan with guaranteed returns to its customers, so that when the accumulation period ends, the customer will have a regular income stream.
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Dabur open to Aviva raising stake in venture
Mumbai: The Burmans of Dabur will not mind their partner, the CGNU Group (now Aviva Plc) of the UK, increasing its stake in the life insurance venture, Aviva, if regulation permits.
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Banks likely to resume power sector funding
Mumbai: At the power meeting in RBI Towers on Friday, attended by the Power Minister, Power Secretary, NTPC officials and bankers (including RBI), a request was made to banks to offer five-year funds for NTPC and other Central power utilities at 10 per cent (fixed).
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Repo rate sustainable: Jalan
Mumbai: The Reserve Bank of India Governor, Dr Bimal Jalan, yesterday said that the repo rate at 5.75 per cent was sustainable in the long run. RBI had last cut the repo rate on June 27 from 6 per cent to 5.75 per cent.
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New Bill on NPA introduced
New Delhi: The Government today introduced a Bill in the Lok Sabha to replace the Asset Reconstruction and Securitisation Ordinance. The Bill left the provision of the ordinance unchanged with no dilution provided as sought by industry. The Ordinance was promulgated on June 21.
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ICICI Bank opposes bid to wind up Kothari Petro
Chennai: ICICI Bank has opposed a petition filed by the Allahabad Bank before the Madras High Court, asking for winding up Kothari Petrochemicals Ltd, a part of the Chennai-based H.C. Kothari group. In March 1998, Kothari Petrochemicals, a part of the Chennai-based H.C. Kothari group.
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Govt rules out PFs entry into capital markets
New Delhi: The government has said there is no proposal as of now to allow provident funds to invest in the capital markets for realising better earnings.
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Insurance firms must tap rural business
Mumbai: Life insurance companies must focus more on rural business besides moving from the agent-driven selling model to new distribution models.
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Reserve Bank will maintain liquidity, Says Jalan
Mumbai: The Reserve Bank of Indias governor, Dr Bimal Jalan, on Friday said that the central bank will continue to maintain liquidity in the market.
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144 employees eligible for Sicom VRS
Mumbai: Nearly 144 of the total 270 employees would be eligible for the voluntary retirement scheme approved by the board of directors of Mumbai-based development bank Sicom Ltd.
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