RBI wants banks risk profiles by Sept 15 
Mumbai: The Reserve Bank of India has asked all the banks to submit their risk profiles by September 15. Profiles to be submitted have to be approved by the board of directors of the respective banks. 
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Union Bank IPO oversubscribed by 5 times, mops up Rs 1,380 crore 
Mumbai: Union Bank of Indias IPO has broken a 3-year record of investor response to banking issues, mopping up a whopping Rs 1,380 crore. 
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Reserve Bank opens up coin distribution channel to agents 
Mumbai: The Reserve Bank of India on Thursday said that it is planning to distribute coins through agents for making them available to the public and has invited applications from agencies undertaking distribution of coins on an experimental basis. 
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Allow pension offerings sans restrictions: Irda 
New Delhi: The Insurance Regulatory & Development Authority chairman N Rangachary has said that the insurance companies should be given the mandate to offer pension products without any restrictions. 
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Aviva Life plans pension product, rural cover 
Mumbai: Aviva Life Insurance is gearing up to bring out a pension product shortly, as also a rural cover. It also proposes to bring in a few more unit-linked products that today form 40 per cent of its business already, according to CEO Stuart Purdy. 
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No talks on ITC stake sale 
Mumbai: The Unit Trust of India has said it was not in talks with any party on the sale of its 12 per cent holding in tobacco-to-hotels major ITC Ltd. 
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Company law is ancient, says DCA secretary 
New Delhi: DCA secretary Vinod Dhall told corporates and auditing firms that company managements and regulators must reform to transform the auditor-company relationship and make it independent.
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ICICI Bank moves to take control of Fed Bank
Mumbai: A high-voltage drama has broken out at Federal Bank, with ICICI Bank the single largest shareholder moving in to retain its control over the bank. 
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Bonds to bail out UTI likely only next fiscal
New Delhi: The Government's plans of a bond issuance to bail out the Unit Trust of India's (UTI) US-64 scheme may be pushed to the next fiscal.
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NRIs can remit inherited assets sans RBI okay
New Delhi: Authorised dealers can now effect remittance of assets, sans Reserve Bank of India (RBI) approval, for an amount of up to $1,00,000 per calendar year, made by a non-resident Indian (NRI) or a Person of Indian Origin (PIO) from the assets acquired by them in India by way of inheritance or legacy. 
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Birla Home Fin to focus on small towns
Mumbai: Birla Home Finance is set to launch a new savings linked home finance scheme targeted at the semi-urban markets. 
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SBI Life launches policy with new features
Mumbai: SBI Life Insurance Company has launched `Sukhjeevan Pratham' a single premium policy with enhanced features from its life insurance product stable. 
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United India expects profit to double
New Delhi: The public sector non-life insurer, United India Insurance, which ended last year with a bottomline of Rs 152.85 crore, has said that it expected its net profit to double this year. 
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New IRDA motor norms may add to insurance cos' woes
New Delhi: Insurance companies' losses in the motor vehicles risk cover are expected to mount during the current year after the new principle of compensation settlement is adopted. 
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Karnataka Bank cuts term deposit rates
Bangalore: Karnataka Bank has announced a reduction in interest rates for domestic and NRE rupee term deposits with effect from September 1. 
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