Tata MF one-day IPO fetches Rs 103.65 crore
Mumbai: Tata Mutual Fund on Monday announced that the one-day initial public offer (IPO) for its new Tata Short Term Bond Fund has been concluded with a mobilisation of Rs 103.65 crore on August 8. 
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RBI seeks details on DBL directors firms 
Mumbai: RBI has reportedly asked the Thrissur-based Dhanalakshmi Bank Ltd to submit a clean chit from the Department of Company Affairs about the companies of Mr Rajmohan Rao, a director of the bank, and his associates. 
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Sundaram MF plans debt fund with long-end maturities
Chennai: Sundaram Mutual Fund has lined up a debt fund with sub-plans carrying three-, five- and ten-year average maturities, aimed largely at wholesale investors. 
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NHB to securitise Rs 1,000-crore housing loan this fiscal 
Mumbai: National Housing Bank is planning to securitise the home loan portfolio worth Rs 1,000 crore, including that of Citibanks Rs 150 crore, in the current fiscal. 
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KMFL hits mart with Rs 100-crore debt 
Mumbai: Kotak Mahindra Finance Ltd on Monday entered the market to raise over Rs 100 crore by way of securitising hire purchase and receivables from loans for financing commercial vehicles.
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United India ropes in 5 TPAs; cashless settlement from Sept 
Chennai: United India Insurance Company Ltd has roped in five companies as Third Party Administrators for its mediclaim policies. 
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Nabard to foray into consultancy services
New Delhi: Nabard plans to make it big in consultancy services. The institution is trying to cash in on its expertise in rural development by offering consultancy service in agricultural and allied activities. 
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HDFC Life crosses Rs 1,000-cr mark in group insurance
Mumbai: HDFC Standard Life Insurance Company's total life cover in its group insurance business has now crossed Rs 1,000 crore as sum assured. This has primarily been led by the performance in the company's group term insurance plan, according to the sources.
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Rs 500 cr more for US-64
New Delhi: The Government is set to provide a second tranche of Rs 500 crore to the Unit Trust of India (UTI) as part of the bailout package to enable the fund to meet its payment obligations in the US-64 scheme. 
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Banks begin to lodge crop insurance claims with GIC
New Delhi: Banks have begun lodging crop insurance claims with the General Insurance Corporation of India (GIC) on account of failure in the kharif crops. 
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Union Bank to spend Rs 150 cr on tech upgrade
Mumbai: Union Bank of India is implementing a centralised core banking solution in the sphere of technology upgradation by investing Rs 150 crore in the next two to three years. The bank had tied up with two IT majors, Wipro and Infosys for the technology upgradation. 
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J&K Bank gets State nod for foreign partner
Srinagar: The Jammu and Kashmir Government has given in principle clearance to the proposed induction of a foreign partner by J&K Bank Ltd through a strategic sale of equity. "The State Government has given us the go ahead to scout for a foreign partner. 
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Rs 1,000-cr bond issue from NHB
Mumbai: The National Housing Bank (NHB) is expected to raise around Rs 1,000 crore through the issue of capital gains bonds, at a coupon rate of 7.15 per cent per annum. 
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MF investments have crossed Rs 100,000 crore, shows sebi study 
Mumbai: Sebi study on the unit holding pattern of the mutual fund industry says that there are 3.08 crore investors in the industry, holding units worth Rs 1,00,594 crore as on March 31, 2002. 
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Pass through certificates may get listed on NSE
Mumbai: Pass through certificates (PTCs) of mortgage-backed securities, may soon be listed on the National Stock Exchange. The National Housing Bank is working on a plan that is expected to integrate the housing finance sector with the capital market. 
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SBM reduces deposit rates
Bangalore: State Bank of Mysore (SBM) has reduced rates on domestic term deposits and on NRE deposits by 25-50 basis points with effect from August 12, 2002. The new rates for domestic term deposits will be 5 per cent for 7-14 days.
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BoI cuts deposit rates again
Mumbai: For the second time in a matter of just 15 days, Bank of India has cut its deposit rates by around 25-75 basis points with effect from August 16. 
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Saraswat co-op bank board removes MD
Mumbai: In a surprise development, D.R. Shirodkar, Managing Director, Saraswat Cooperative Bank Ltd, a multi-state urban co-operative bank, has been removed by the bank's board. 
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