The Kale story of TFLs stake sale in TAML to TD Bank 
Mumbai: The now-withdrawn report by AF Ferguson & Co, authored by its former senior partner YM Kale, has noted that Tata Finance Ltds disinvestment in Tata Asset Management Ltd to Toronto Dominion Bank is one among the many transactions wherein it has wondered. 
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Cholamandalam Investment plans to float Rs 50-crore debentures 
Chennai: Cholamandalam Investment and Finance Company Ltd is planning to come out with a non convertible debenture issue of Rs 50 crore to Rs 75 crore during the October-December quarter. 
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Private insurers look to LIC stand on service tax 
Mumbai: Private life insurance companies are keenly awaiting the stand that the Life Insurance Corporation would be taking in the matter of service tax on agents. 
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Max New York Life launches new risk protection product 
Mumbai: Max New York Life on Tuesday launched another risk protection product, adding more competition in the highly competitive segment.
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Preferential private placement - Salomon Smith to advise UTI Bank
Mumbai: UTI Bank Ltd has decided to appoint investment bankers, Salomon Smith Barney, to raise additional equity capital through the preferential allotment route. The decision was taken by the Committee of Directors at a meeting yesterday. 
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Netravati Bank outlines credit schemes for SSIs
Mangalore: Netravati Grameena Bank conducted a one-day workshop on credit and subsidy schemes for small entrepreneurs here on Tuesday. The objective of the workshop was to provide information on various credit and subsidy schemes being implemented to in the bank.
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Max New York to hike capital to Rs 300 crore
Mumbai: Max New York Life Insurance Co Ltd (MNYL) proposes to increase its paid up capital from the existing Rs 250 crore to Rs 300 crore in view of the growing business volumes. 
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Birla Sun Life CP gets `PR1+'
Mumbai: CARE has assigned a `PR1+' rating to the commercial paper (CP) short-term debt programme of Birla Sun Life Securities Ltd, for an amount of Rs 10 crore. 
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Branch licensing - Reserve Bank needs to unfetter banks
Mumbai: Branch licensing of yore may not hold for the future, thanks to technology. On-line ATMs and computer systems can do away with the need of managing a large number of branches, apart from reducing costs. 
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IndusInd Bank looks at acquisition route for growth
Mumbai: Realising that organic growth will not be the way forward, private sector IndusInd Bank Ltd, is exploring the acquisition route for growth. The bank, which will have a renewed thrust on retail banking, is targeting to grow profits by 30-35 percent this fiscal year. 
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Rs 1.5 lakh cr locked up in litigations
Mumbai: It seems Rs 1,52,797.98 crore of public money has been locked up in litigation as on March 31, 2002 in various forums for direct and indirect taxes and courts of law. 
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PNB notice to 400 defaulters
New Delhi: Punjab National Bank (PNB) has gone into an overdrive in initiating action against defaulting borrowers under the Ordinance for recovery of non-performing assets (NPAs). The bank has despatched notices to over 400 defaulters.
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Central Bank to triple cardholder base
Mumbai: Central Bank of India, the Mumbai-based public sector bank, is targeting to triple its credit and debit cardholder base by the end of next fiscal to reach 3-lakh cardholders from the current level of around one-lakh cards. 
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Bank VRS optees assn plans stir
Kolkata: The All India Bank Voluntarily Retired Staff Association has decided to launch a nation-wide agitation to press their demand for a fresh pension option and for the rectification of the pension anomalies. 
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