Fitch adds directional ratings for deposits
Mumbai: Fitch Ratings India on Monday added a new concept to its ratings process, called rating outlook for long-term and term-deposits.
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SBI Life chalks out portfolio expansion
Hyderabad: SBI Life Insurance Company Ltd is all set to expand its product portfolio with new variants of endowment policy and home loan-linked policies besides pension funds.
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Rangarajan urges banks to be cautious with insurance business
Hyderabad: While acknowledging that the European model-bancassurance will deliver benefits to the Indian homes, former Reserve Bank of India governor and Andhra Pradesh governor Dr C Rangarajan has cautioned bankers to maintain arms length distance with the insurance business.
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Credit-deposit ratio of 26 PSBs up 49.6% in 01-02
Mumbai: The credit-deposit ratio of the 26 PSU banks has witnessed an increase during 2001-02 from the level of 2000-01.
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UTI shareholders to consider package after act repeal
New Delhi: Life Insurance Corporation, State Bank of India, IDBI and other shareholders would consider a financial package for the Unit Trust of India only after the UTI Act is repealed and the fund is made Sebi-compliant, expected by December-end this year
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IBA plans defaulters list to check growth of fresh NPAs
Kolkata: Indian Banks Association has initiated a move to compile a list of habitual defaulters who may be denied future loans by banks and financial institutions unless they repay their existing dues.
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IDBIs universal banking plan stalled again
New Delhi: IDBIs universal banking plans have hit a roadblock. After the law ministry delayed the proposed repeal bill by raising queries on the version finalised by the Finance Ministry and sent it for vetting, the finance ministry is now doing a rethink.
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SBI Life to pay 2.5% bonus to policyholders
Hyderabad: SBI Life Insurance Company, a joint venture between State Bank of India and Cardif SA of France, is all set to declare a maiden bonus of 2.5 per cent to its policyholders.
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Netravati Bank schemes for entrepreneurs
Mangalore: With a view to promoting industrialisation in rural areas, Netravati Grameena Bank proposes to liberally extend credit to entrepreneurs qualified and trained in the various areas of engineering.
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`Housing finance cos ready to cut rates... '
Thiruvananthapuram: Housing finance companies would not think twice before cutting rates lower than what the banks are offering now, if only they had  the luxury of the "dirt cheap" funds that the latter have access to.
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GIC Housing Finance sees scope for growth
Thiruvananthapuram: The company has made an exception in the case of Thiruvananthapuram considering the volume of business that is being generated already and the potential to do much more.
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Insurance panel views will decide fate of life rider cap
New Delhi: The Insurance Regulatory and Development Authority (IRDA) would take a final decision on the demand for lifting the cap on riders on life insurance polices after ascertaining the views of the Insurance Advisory Committee.
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Federal Bank's online ATM services
Kochi: The Kerala-based Federal Bank has launched its networked online ATM services here. With the launch of the online ATM services, branches of the bank can issue ATM cards that can be used by the customers to derive benefit from the ATM facilities across the country.
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Canara Bank to trim equity base prior to public offer
Mumbai: As a prelude to tapping the primary market with an IPO, Canara Bank has decided to reduce its equity capital by Rs 278 crore and return the money to the Government.
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`KSFC mulls lending'
Bangalore: The Karnataka State Finance Corporation (KSFC) is to consider financing films , according to Bhaktavatsala, film-maker and former President of the Film Federation of India.
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UTI Bank, NHPC ink pact
Mumbai: UTI Bank has signed a memorandum of understanding (MoU) with National Hydroelectric Power Corporation Ltd (NHPC) for joint consultancy in hydro projects for a period of three years.
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