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HDFC
to raise $100 m more
Mumbai: Housing Development Finance Corporation
(HDFC) is to raise $100 million through international
funding in the latter half of this financial year.
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General
insurance cos sore over directives on TPAs
New Delhi: The top-level managements of the four
public sector general insurance companies are reportedly
annoyed with the Union Government's repeated intervention
in the appointment of third party administrators (TPAs).
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Insurers
told to stick to TPA fee ceiling
New Delhi: While the process for hiring third-party
administrators (TPAs) has been decentralised, the General
Insurance Public Sector Association (GIPSA) has directed
the four non-life general insurance companies to adhere
to the cap on fees.
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PSU
insurers dump compassion
New Delhi: Public sector general insurance companies
are quietly dispensing with compassionate appointments
in a bid to rationalise manpower utilisation.
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Primary
dealers told to publish accounts
Mumbai: Primary dealers (PDs) have been asked by
the Reserve Bank of India to make public details of their
balance sheet and their profit and loss account. So far,
PDs did not have disclosure requirements.
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RBI
for ceiling on States' loan guarantees
Mumbai: To bring about fiscal discipline in state
finances, RBI has recommended a need for a ceiling on
guarantees on loans given by State governments to various
state level undertakings.
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Catholic
Syrian to offer VRS
Kochi: The Thrissur-based Catholic Syrian Bank
is planning a voluntary retirement scheme at various levels
of the organisation for people who have completed 55 years
of age.
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IOB
keeping options open on second VRS
Hyderabad: Indian Overseas Bank (IOB) has an open
mind about introducing second round of voluntary retirement
scheme (VRS), according to its Chairman and Managing Director,
Mr S.C. Gupta.
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Union
Bank returns Rs 58 cr to Government
Mumbai: Union Bank of India, which has announced
a public issue of Rs 288 crore, has returned Rs 58 crore
to the Government, thus reducing the Government's stake
to 60.8 per cent from the current level of 100 per cent.
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Associate
unattractive : `IDBI wants to merge with another bank'
Mumbai: Merging with IDBI Bank was not an attractive
proposition going by the current size of the bank, Mr
P.P. Vora, Chairman, IDBI, told shareholders yesterday
at the institution's annual general meeting.
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Exim
Bank to extend $10-m credit to PTA Bank
New Delhi: Export-Import Bank of India (Exim Bank)
has signed an agreement to extend line of credit (LoC)
of $ 10 million to Eastern and Southern African Trade
and Development Bank (PTA Bank).
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IndusInd
bid to auction hotel property stalled
New Delhi: The Alternative Disputes Resolution
(ADR) Arbitral Tribunal, New Delhi, has stalled IndusInd
Bank's bid to auction the Pune-based Ram Laxman Hotels'
property, where the five-star Holiday Inn is located,
following a dispute over loan repayment.
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IOB
to raise Rs 175-crore tier-II
Hyderabad: Indian Overseas Bank has decided to
raise Rs 175 crore of Tier-II capital through private
placement during the current financial year.
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MoF
seeks RBI advice for changes in banking act
New Delhi: The ministry of finance has sought comments
from the Reserve Bank of India on the changes required
in the Banking Regulation Act, 1949, for providing an
option to the foreign banks to either operate as branches
of their parent banks or to set up subsidiaries. Full
story
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States
should assess guarantee-linked risks for PSU bonds
Mumbai: A senior RBI official said on Friday that
state governments need to assess the risks associated
with the guarantees extended to bonds floated by public
sector undertakings.
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BankAm
cuts India growth forecast on drought fears
Mumbai: Bank of America has lowered Indias economic
growth estimate for the current financial year to four
per cent, from five projected earlier, citing lower farm
output as the country faces the worst drought in more
than a decade.
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