Credit cards to drive private bank earnings: Merrill Lynch 
Mumbai: The credit cards business is likely to emerge as a significant contributor to the earnings of private banks over the next two-three years. 
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Chinas listed banks count on booming private sector 
Beijing: Chinas nimble listed banks will post rosy profits for 2002, capitalising on the countrys healthy economic growth and shrugging off squashed interest margins and thickening competition. 
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Law panels status paper on insurance laws recast soon 
New Delhi: The government is mulling an overhaul of outdated insurance laws and bundling them into a comprehensive new legislation that would give more teeth to the regulator Irda and protect the interests of policyholders. 
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RBI irked by hefty charge for exchange of soiled notes 
Mumbai: The Reserve Bank of India has expressed concern at the exorbitant commission charged by private parties for exchanging soiled notes and directed banks to extend this facility free of cost. 
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SBI core banking solutions test run next month
Mumbai: The pilot run of State Bank of India's much-vaunted core banking solutions is likely to start soon, most probably from September. 
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Ferguson report: ICAI seeks details from members
New Delhi: The Institute of Chartered Accountants of India (ICAI) has asked for information about the controversial A.F. Ferguson report in the Tata Finance matter from its member chartered accountants who are also associated with it. 
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Administrator appointed for 2 benefit funds
Chennai: The Madras High Court has appointed an administrator to take custody of the properties of the City-based `JRP/KRP Benefit Fund Ltd' and `KRP Ecofin Services Ltd' following a petition filed by the Depositors' Welfare Association that the two companies had defaulted in repayment of deposits.
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IRDA seeks details of motor cover refusals
New Delhi: The Insurance Regulatory and Development Authority's (IRDA) patience on the motor insurance front appears to be running out. Faced with persistent complaints from transporters on alleged defiance by the insurance companies of the regulatory directives, IRDA has sought the assistance of the representatives of transporters to nail the culprits. 
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Corporates may have to pay higher renewal premiums
Bangalore: Faced with a further hardening of reinsurance markets, domestic corporates may have to fork out higher premiums during the year on policies coming up for renewal. Sources said that the reinsurance premiums had hardened to about one per cent of of the sum insured, up from about 0.7 per cent about three months ago. 
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Banks reject tax challans sans PAN
Coimbatore: If remittance of tax dues is mandatory, can banks turn down challans for want of a `Permanent Account Number (PAN)'? This is exactly what is happening here, for no fault of the assessee. Banks have, during the last couple of days, refused to Banks have, during the last couple of days, refused to accept challans without the PAN, following instructions from the apex bank. 
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Bank officers plan strike on August 29
Kolkata: Members of AIBOC, AIBOA, INBOC and NOBO (All India Bank Officers' Confederation, All India Bank Officers' Association, Indian National Bank Officers' Congress and National Organisation of Bank Officers') are to take part in the one-day strike.
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Credit Lyonnais to open more branches
Mumbai: The French Bank, Credit Lyonnais is to expand its reach in India. The bank plans to start four more branches in the next couple of years. The new locations would be Pune, Bangalore, Kolkata and Hyderabad, a bank official said. 
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Small units form big chunk of NPAs 
New Delhi: Banks have identified lack of state-level co-ordination among various institutions as the single-most important factor hampering rehabilitation of sick small industries. 
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Allianz Bajaj plans to sell 1 lakh policies
Mumbai: Allianz Bajaj Life Insurance Company has targeted to sell over a lakh policies by March 2003, CEO James Walton said. The company which has been in operations for 10 months now has already sold 50,000 policies. 
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