RGA gets Reserve Bank nod to set up shop in India 
New Delhi: Indicating the growing interest of international reinsurers for the Indian insurance market, the US-based Reinsurance Group of America, has decided to set up a representative office in the country. 
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Sicom for prepayment of state loan at discount 
Mumbai: The Mumbai-based Sicom Ltd has called upon the Maharashtra government to approve its proposal for prepayment of government loan worth Rs 230 crore at a discounted value of Rs 70 crore instead of spreading the repayment over a 10-year period. 
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Union Bank Of India to reposition ULG scheme 
Chennai: In a move to enhance customer appeal, Union Bank of India is planning to reposition its newly introduced Union Life Guard scheme. The scheme, specially designed by the bank, is aimed at ensuring hassle-free cashless hospitalisation for the ULG card holders. 
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FDI welcome but on our own terms 
New Delhi: India wants foreign direct investment and is serious about it. However, it wont go out of its way for it. 
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IDBI repays $250-million FRNs 
Mumbai: The Industrial Devel-opment Bank of India has redeemed its seven-year floating rate notes of $250 million raised in September 1995. 
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SHCIL gives more leeway to Haribhakti
Kolkata: Stock Holding Corporation of India Ltd (SHCIL) has given more room to Haribhakti and Co ``to dig out the truth'' in the case involving SHCIL and IndusInd Bank, according to Mr K.C. Bandhopadhyay, its new chief. 
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Software, pvt transfers boost current a/c
New Delhi: The country has reported a provisional current account surplus for the third consecutive quarter, clocking a surplus of $ 325 million for the period April to June, 2002, this chiefly led by software exports and private transfers. 
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E&Y appointed Tata Fin internal auditors
New Delhi: Ernst & Young had been appointed the internal auditors of Tata Finance Ltd (TFL), its Chairman, Ishaat Hussain, said at the company's AGM here yesterday. 
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Maharashtra, UTI to divest 26 pc stake in SICOM
Mumbai: The Government of Maharashtra and Unit Trust of India will together divest 26 per cent stake in SICOM Ltd; KPMG has already been entrusted with arranging this deal, according to R.D. Pradhan, Chairman, SICOM. 
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Catholic Syrian ties up with NCR for ATMs
Kochi: The Thrissur-based Catholic Syrian Bank has tied up with NCR Corporation, Mumbai, for its on-line touch screen automated teller machine project. The project, in its first phase envisages installation of ATMs at 50 locations spread across the country.
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`Kerala big thrust area for Centurion Bank'
Kochi: In a move meant to help the pilgrims visiting the Srikrishna temple at Guruvayur, the bank has installed coin dispensing machine at the temple premises, the first of its kind in Kerala. 
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Karnataka Bank pact with MetLife
Bangalore: The private sector Karnataka Bank has signed an agreement with MetLife India for distribution of insurance products as a corporate agent. This allows MetLife to take the bancassurance route for selling life insurance products, considerably reducing selling costs.
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Corpn Bank adds one more ATM
As part of its ongoing technology initiative, the Mangalore-based public sector Corporation Bank has operationalised yet another automated teller machine (ATM) its 222nd in Nagpur. The bank has also shifted its Nagpur branch to the LIC premises there. 
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Andhra Bank raises Rs 140-cr debt
Hyderabad: Andhra Bank has raised subordinated debt of Rs 140-crore. The move is said to be aimed at augmenting its capital adequacy ratio amidst plans for inorganic growth via acquiring a bank shortly. 
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Trading in gilts dull
Mumbai: The debt market was seen to be very dull on Monday with hardly any trading on account of most market players closing their books for the half yearly results. Prices were seen to be highly range-bound with 0-4 paise movement across maturities. 
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OM Kotak relaunches insurance bond plan
Mumbai: OM Kotak Mahindra has relaunched its Kotak Insurance Bond (KIB) plan after realigning interest rates to keep in sync with the current market scenario. 
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MTR Foods CP gets `A1' rating
Bangalore: ICRA has accorded `A1' rating to the Rs 5-crore commercial paper programme of MTR Food Ltd, indicating highest safety in the short term. The rating is based on the company's established position in the packaged foods business which derives derives strength from its brand name, its success in several product launches leading to widening its product range, rapid sales growth in the last five years.
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Dissenting bank unions may join wage talks
New Delhi: Shedding their three-year long disagreement over the seventh bipartite wage settlement, the two dissenting bank unions - the Bank Employees Federation of India (BEFI) and the National Organisation of Bank Workers (NOBW) - are all set to join the ensuing negotiations for the eighth settlement. 
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Eighth bipartite wage settlement - IBA places counter-demands
Coimbatore: The bipartite discussion for wage revision of bank employees, due to begin later next month, looks to become a protracted affair with the Indian Banks Association (IBA), the umbrella organisation of bank managements, placing a set of counter-demands to the one submitted by the All-India Bank Employees Association (AIBEA) regarding wage revision. 
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Non-food credit triples in first five months
Mumbai: Non-food credit has almost tripled in the first five months of the current fiscal as compared to the same period in the previous year. According to RBI sources, incremental non-food credit up to the first week of September amounted to Rs Rs 20,000 crore as against Rs 6,500 crore in the corresponding period of the previous year. 
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