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Panel for major changes in RRB Act
Kolkata: The RRB Act Amendment Committee, headed by M.V.S. Chalapati
Rao, Managing Director of Nabard, which submitted its report recently, has
suggested amendments to several provisions of the Act.
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Corporation
Bank cuts home loan rates
Mangalore: Corporation Bank has reduced its interest rates on housing loans
on a floating rate basis to 9.5 per cent per annum from 10.5 per cent for
loans of a maturity period up to five years.
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Rural business of PSU insurers to be transferred to new co
The rural insurance business of the four public sector general insurance
companies is expected to be transferred to the proposed Agricultural
Insurance Corporation of India.
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`AA+' for Larsen & Toubro NCD issue
Mumbai: The non-convertible debenture (NCD) issue of Larsen &
Toubro, amounting to Rs 300 crore, has been assigned `AA+' rating by
Crisil.
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KMPL debt programme gets `P1+'
Mumbai: Crisil has rated Kotak Mahindra Primus Ltd's (KMPL) Rs 400-crore
short-term debt programme `P1+' (enhanced from Rs 350 crore). All existing
long-term non-convertible debenture issues are AA.
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'P1+' for Kotak Mahindra Fin PTC
Mumbai: Crisil has assigned the highest short-term and
long-term ratings to the Rs 114.85 crore `Senior Series' pass through certificates
(PTCs), issued under the securitisation programme of Kotak Mahindra Finance Ltd
(KMFL).
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Exim Bank ties up with IIT Mumbai
Mumbai: Export-Import Bank of India (Exim Bank) and IIT Mumbai have signed a
memorandum of understanding to promote and market the latter's technologies
overseas. The two institutions have agreed to leverage their respective
strengths and exchange regular information on research, technology, trade,
business and investments opportunities to facilitate increased co-operation
for commercial exploitation of various technologies in overseas markets,
said a press release
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StanChart card for cricket lovers
Mumbai: Standard Chartered Bank has now tied up with Air Sahara to introduce
`Air Sahara Standard Chartered Cricket Card', to celebrate India's most
watched sport.
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IRDA to clear brokers' norms next month
New Delhi: The Insurance Regulatory and Development Authority
(IRDA) would finalise the guidelines pertaining to brokers and consultants by
September-end and start granting them licences from the end of October.
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Bank officers' fedn calls for strike
New Delhi: The Federation of Bank of India Officers' Associations
(FBOIOA) has called for a day's strike towards the end of this month to express its
revolt against what it called `the management's unreasonable, unilateral and
vindictive attitude' towards.
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Birla Sunlife To Target Rajasthan Youth
Mumbai: Birla Sunlife is planning to take on the Rajasthan market in life
and non-life insurance sectors in a big way by targeting the young employed
consumer group. Full story
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Professionals allowed to retain 100% of forex
Mumbai: The RBI on Thursday permitted individual professionals to keep up to
100% of their foreign exchange earnings from consultancy and other services
rendered to persons or bodies outside India, in their foreign exchange
earners foreign currency account.
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UTI investors may get dividend tax relief
New Delhi: The government is considering restoring tax-free
status on dividend income earned by unit holders of Unit Trust of India. This option
was discussed at a Group of Ministers meeting on UTI restructuring recently.
However, a final view is yet to be taken.
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