Dhanalakshmi Bank yet to get RBI approval
Thrissur: The Thrissur-based Dhana-lakshmi Bank Ltd, which has been under scrutiny by the Sebi over its decision to pay dividend to shareholders of a recent rights issue, is yet to receive the Reserve Bank of Indias approval for the share transfer.
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Allahabad Bank to team up with ICICI Pru for life products distribution
Kolkata: The Kolkata-based Allahabad Bank has decided to join hands with ICICI Prudential for distributing the latters life insurance products.
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Allahabad Bank to crack down on 60 defaulters
Kolkata: Allahabad Bank has decided to crack down on 60 hard-core (read wilful) defaulters to recover over Rs 470 crore locked up as non-performing assets (NPAs), using provisions of the Securitisation Ordinance, 2002.
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IDBI taps market with Rs 200-cr flexibond issue
Mumbai: IDBI has hit the market with a Rs 200-crore Flexibond issue. The financial institution has secured a AA-rating for the unsecured bonds which are rated by three agencies like Crisil, Fitch and Icra.
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AIG profit rises 37 per cent on higher premium
Mumbai: American International Group Inc, the worlds largest insurer by market value, on Thursday said its quarterly profit rose 37 per cent as higher premiums boosted results at its business insurance unit.
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ALF, BPCL to launch co-branded affinity card in September
Chennai: Chennai-based Ashok Leyland Finance Ltd would soon tie-up with Bharat Petroleum Corporation Ltd to launch affinity cards for its customers.
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Euro transactions in banks gather speed
Mumbai: Banks have started registering a significant pick-up in euro transactions with exporters starting to invoice actively in the currency.
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Maruti launches finance arm
New Delhi: Maruti Udyog Ltd on Thursday launched Maruti Finance, one of the four automobile related businesses that the company entered into in the past one year, in the South.
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Insurance industry wants cap on rider premium to go
New Delhi: The life insurance industry is hoping that the Insurance Regulatory and Development Authority (IRDA) would pay heed to the industry's plea, and remove the cap on the amount that can be charged for the riders.
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AMP Sanmar in Maharashtra
Chennai: The Chennai-based AMP Sanmar Assurance Co Ltd yesterday launched its operations for the western region in Mumbai. The company's network in Maharashtra would cover Thane, New Mumbai, Pune, Kohlapur, Nagpur, Aurangabad, Sholapur and Nasik.
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First India open to 'desi' synergies with MetLife
Mumbai: First India Mutual Fund, which has Metropolitan Life as one of its overseas partners, has not ruled out the possibility of establishing synergies with MetLife's insurance operations in India.
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European co rates New India `excellent'
New Delhi: The leading player in the non-life insurance segment, The New India Assurance Co Ltd, has been rated by A.M. Best (Europe) - the Credit Rating Company - as an `excellent' company in financial strength.
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Housing finance cos upgraded
Mumbai: Crisil has upgraded ratings assigned to five housing finance companies promoted by banks. The rating assigned to BoB Housing Finance Ltd has been revised to `FAAA' from `FAA+' previously.
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RBI dividend even before auditors are through
Mumbai: Can Mr C.M. Vasudev, Secretary, Department of Economic Affairs (DEA), announce a dividend of Rs 10,300 crore from RBI to the Centre, when the central bank's books are still under audit?
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IndusInd Bank refutes JPC's comments
Kolkata: IndusInd Bank yesterday said that the alleged delay by the bank in intimating Calcutta Stock Exchange (CSE) of the dishonour of cheques had nothing to do with the relevant pay-out of CSE and hence with the CSE's payment crisis. 
Back to News Review index page   Raising resources PFC, REC mull options on securitising receivables
New Delhi: The Power Finance Corporation of India (PFC) and the Rural Electrification Corporation (REC) have begun examining the possibility of raising resources by securitising receivables.
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`Interest rates likely to remain at current levels'
Mumbai: 'Interest rates are likely to remain where they are, according to Mr Deepak Parekh, Chairman, HDFC. "There is no indication that the rates will go up; this is of course subject to matters like tension along the country's border''.
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RBI may allow corporates in repo market
Mumbai: Currently, only SGL account holders can access the inter-bank repo market with only banks, PDs and some mutual funds having access to the repo market.
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ICICI Bank cuts deposit rates
Mumbai: ICICI Bank is the latest to cut interest rates of term deposits following State Bank of India, Bank of Baroda among others. The largest private sector bank in the country is to reduce deposit rates by 25 to 75 basis points for various services.
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