Bankers spell out priority sector concerns to Kelkar 
New Delhi: Senior bankers on Monday expressed the need for a review of the priority sector for providing focused lending to such sectors at frequent intervals in pursuit of national objectives in an interactive discussion with advisor to Union finance minister, Dr Vijay Kelkar. 
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IFCI seeks govt help to restructure liabilities 
New Delhi: IFCI Ltd has sought the governments help in restructuring its liabilities exceeding Rs 12,500 crore. 
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REC taps bond market to raise Rs 100 crore 
New Delhi: The Rural Electrification Corporation on Monday approached the market with a bond issue of Rs 100 crore. REC proposes to use the proceeds of this issue to meet commitments for priority sector lending. 
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Shriram Group eyes fresh capital to boost NBFC business 
Chennai: Chennai-based Shriram group is looking at fresh capital infusion from foreign funds to enhance the disbursement activities of its non banking finance company arms. 
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Lakshmi General rights issue fully subscribed
Chennai: Lakshmi General Finance has announced the full subscription of its rights issue. In a press release, LGF said it had issued 10,00,000 equity shares of Rs.10 each at a premium of Rs 50 per share on rights basis. 
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RBI cancels registration
Mumbai: The Reserve Bank of India has cancelled the certificate of registration issued to Chennai-based Indian Finance and Factors Ltd. 
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LIC targets 25% growth rate by 2005
Chennai: Life Insurance Corporation of India is planning to improve its growth rate from the current level of 20 per cent to 25 per cent by 2005, its Chairman, Mr S.B. Mathur, said. 
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United India to focus on personal line of insurance
Kochi: United India Insurance is planning special thrust to personal line of insurance (PLI) in the State as part of its efforts to reduce losses. 
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Central Bank centres for soiled notes exchange
Mumbai: CentralL Bank of India has opened centres for the exchange of soiled notes at its three branches in Mumbai. These counters will be open on Sundays to meet the public's needs. 
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ING, Vysya to merge operations by year-end
Bangalore: ING plans to integrate its banking operations in India with Vysya Bank by end-December, Peter Smyth, General Manager, ING Asia-Pacific, has said. The ING group hiked its stake in the private Indian bank to 44 per cent recently. 
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LVB to dial tele-banking from tomorrow
Karur: The Karur-based Lakshmi Vilas Bank Ltd (LVB) is getting ready to launch tele-banking ervice at select branches from September 25. 
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IFCI gets RBI nod for waivers during recast
New Delhi: IFCI Ltd has sought the Government's assistance to restructure its liabilities while at the same time asking the Reserve Bank of India to relax certain regulatory provisions during the restructuring phase. 
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JP Morgan offers Rs 35/share for IDBI Bank's 26 pc stake
Mumbai: International investment banker JP Morgan is understood to have offered a price of close to Rs 35 per share for a 26 per cent stake in IDBI Bank. This works out to nearly Rs 7 more than the Rs 27-28 per share offered by Sidbi. 
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IFCI pressing on with rejig efforts
New Delhi: IFCI is moving ahead amidst an uncertain future, but at a snail's pace. The institution's sanctions and disbursals have come down to a trickle compared to its heydays with net assistance sanctioned during the first quarter of the current fiscal year.
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Strike call against bank branch closure
Kolkata: Bengal Provincial Bank Employees Association, affiliated to All-India Bank Employees Association, has given the call for one day's token strike on October 1 in Kolkata to protest against the closure of the Bank of Tokyo's Kolkata branch in August without serving notice. 
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Union Bank to make market debut today
Mumbai: Union Bank of India's IPO will get listed on both the Bombay Stock Exchange and the National Stock Exchange tomorrow. The issue of Rs 288 crore, which was oversubscribed over five times, attracted heavy retail and corporate investments. 
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NPA Ordinance for UTI, co-op banks on hold
New Delhi: The Government has put on hold the proposal to bring Unit Trust of India (UTI) and urban co-operative banks (UCBs) under the Ordinance for recovery of non-performing assets (NPAs). 
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Gujarat UCBs continue the ninepin game
Ahmedabad: As one co-operative bank after the other continues to face liquidity crunch and opt out of clearing house operations with sickening regularity, surely it is time the Gujarat government and the RBI came out of their passive roles and began cracking the whip. 
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