UTI borrows more from SBI to keep US-64 liquid
Mumbai: Unit Trust of India borrowed Rs 500 crore from State Bank of India a few days ago to create liquidity in its flagship US-64 scheme. The loan is over and above the Rs 1,000 crore it borrowed from SBI recently.
Back to News Review index page  
Corporate agents: Irda puts on hold licensing
New Delhi: The Insurance Regulatory and Development Authority has put on hold licensing of corporate agents till further notice.
Back to News Review index page  
HDFC Bank's advisory service facility
Mumbai: HDFC Bank is targeting the affluent masses with its `wealth management programme' with the aim of covering 1,00,000 customers by the end of the financial year,
Back to News Review index page  
Canfin Homes to beef up marketing
Bangalore: Canfin Homes Ltd (CFHL) is planning an aggressive campaign for marketing its products. The company has set in motion the initiative by setting up its central marketing department in Bangalore.
Back to News Review index page  
ICICI Bank property show begins today
Mumbai: ICICI Bank Home would offer spot sanctions for home loans on the displayed properties. The customers opting for a spot loan would get advantages such as a reduced interest rate of 10.75 per cent on adjustable rate loans and an offer of zero processing fee for the loans, which are usually up to 0.5 per cent of the loan amount.
Back to News Review index page  
Home loan festival from Vibank
Bangalore: Vibank Housing Finance Ltd, a subsidiary of Vijaya Bank, will launch a 10-day `Own Your Home Festiva ' on August 22, 2002.
Back to News Review index page  
Transporters seek IRDA action on tariff norms
New Delhi: It's time for fresh action on the motor insurance front with transporters once again seeking the intervention of the Insurance Regulatory and Development Authority (IRDA) to discipline insurance companies, which allegedly are openly flouting the norms.
Back to News Review index page  

TN lorry owners for third party insurance
Chennai: The State Lorry Owners' Federation has asked its member associations to take up with the insurance companies the issue of accepting third party insurance premiums.
Back to News Review index page  

Tax-free bonds cap may be set around Rs 10 lakh
New Delhi: The Government is set to fix a liberal annual investment limit of over Rs 10 lakh on the new tax-free bonds announced by the Finance Minister, Jaswant Singh, on Wednesday.
Back to News Review index page  
Tax-free bonds look appetising
Mumbai: Jaswant Singh's new tax-free bond is expected to be the best bet for investors in an otherwise depressed market, according to market watchers. The bonds are seen as an attractive opportunity as there is no cap on investment.
Back to News Review index page  
Ingersoll Rand CP assigned `P1+'
Mumbai: Crisil has rated Ingersoll Rand's Rs 75 crore commercial paper issue as `P1+', indicating highest safety. 
Back to News Review index page  
ICICI Bank debit card feat
Mumbai: ICICI Bank yesterday said it has issued over 10 lakh debit cards, becoming the largest debit card issuer in the country. The bank launched its debit card "Ncash'' in January 2001.
Back to News Review index page  
Lakshmi Vilas Bank cuts rates
Hyderabad: Lakshmi Vilas Bank (LVB) has announced revised interest rates on domestic term deposits. The rates, based on the recommendations of the bank's asset liability company, have come into effect from August 1,2002.
Back to News Review index page  
Andhra Bank revises deposit rates
Hyderabad: Andhra Bank, the Hyderabad-based public sector bank, has announced new interest rates for term deposits. The revised rates would come into effect from August 1, 2002.
Back to News Review index page  
Union Bank issue at Rs 6 premium
Mumbai: Union Bank of India has set a premium of Rs 6 for the Rs 10 share for its proposed public issue. The issue is of 18 crore equity shares amounting to Rs 288 crore.
Back to News Review index page  
Drought shadow over retail loans
Mumbai: With the spectre of drought looming large over the country, the banking industry is confronting a crisis of confidence. As the drought situation becomes a reality, the industry's honeymoon with retail lending might be cut short.
Back to News Review index page  
CIFCL to raise Rs 400 crore via non-convertible debentures
Chennai: Chola-mandalam Investment & Finance Company Ltd, is raising Rs 400 crore by way of issuing redeemable non-convertible debentures of Rs 200 crore and short-term redeemable NCDs of Rs 200 crore on a private placement basis.
Back to News Review index page  
BOBL rejigs Bangkok ops on Andersen advice
Chennai: Bharat Overseas Bank Ltd has recast its Bangkok operations lock, stock and barrel by branching out to new business areas and infusing fresh funds.
Back to News Review index page  
BNP Paribas Q2 net dented by weak equity markets
Mumbai: French bank BNP Paribas said on Thursday that slumping equity markets had pushed net profits down 13 per cent in the second quarter as it sounded a note of caution over when more stable business conditions would return.
Back to News Review index page