|
RBI
directs NBFCs not to get physical with G-Secs
Extending the norms introduced in the co-operative banking
sector after the G-Secs scam in three Maharashtra district
co-operative banks, the RBI on Tuesday tightened the norms
for NBFCs by making it mandatory for them to necessarily
hold their investments in G-Secs only in dematerialised
form.
Back
to News Review index page
Catholic
Syrian plans bancassurance, MF distribution foray
Kochi: The Catholic Syrian Bank is all set to enter
bancassurance and mutual funds distribution business in
a big way.
Back
to News Review index page
NIC
offers low-cost Mediclaim to all West Bengal govt staff
Kolkata: National Insurance Co Ltd is ready to
provide its Mediclaim health insurance coverage at concessional
rates to over 900,000 employees of the West Bengal government.
Back
to News Review index page
National
Insurance hopes to post Rs 200-cr profit - Launches policy
with seven covers
Kolkata: The public sector insurer, National Insurance
Company Ltd (NICL), hopes to register a profit of Rs 200
crore during the current financial year after reporting
an operating loss of Rs 94 crore in 2001-02.
Back
to News Review index page
New
India profit down at Rs 142 cr
Mumbai: New India Assurance Company Ltd (NIA) has
incurred an underwriting loss of Rs 529.60 crore in the
financial year 2001-2002 against Rs 456.29 crore in the
corresponding period of the previous year.
Back
to News Review index page
LVB
reduces deposit rates
Hyderabad: Lakshmi Vilas Bank (LVB) has announced
a cut in its interest rates on domestic term deposits
with effect from Tuesday based on the recommendations
of its asset liability committee (ALCO).
Back
to News Review index page
Karnataka
Bank, BSNL tie up for telephone bills
Bangalore: Karnataka Bank has entered into an agreement
with Bharat Sanchar Nigam Ltd (BSNL) for the collection
of telephone bills of subscribers in the Bangalore Telecom
District.
Back
to News Review index page
SIDBI,
SEDF sign MoU
Mumbai: The Small Industries Development Bank of
India (SIDBI) and the South-Asian Enterprise Development
Facility (SEDF) have signed an MoU to aid the development
of small enterprises in North-East India.
Back
to News Review index page
Bank
in distress Is merger only solution?
The IMF is often blamed that it prescribes the same medicine
for all illnesses. Now, the Reserve Bank of India also
seems to be following the same policy. If press reports
are to be believed, Nedungadi bank is likely to be merged
with Punjab National Bank. The question that arises is,
is it right to wipe out an organisation, which has been
serving the people for more than a century, from the banking
map just because of a major accident? Let us examine the
pros and cons of this move and also alternative solutions.
Back
to News Review index page
Sebi
wants MFs to put in place risk mgmt systems
Mumbai: The Sebi has prescribed an additional set
of guidelines with respect to a risk management system
for mutual funds, to be followed in the remaining quarters
of the current fiscal.
Back
to News Review index page
Core
sector reforms need calibrated policies: RBI
Mumbai: The second generation of reforms in infrastructure
requires a carefully calibrated policy package that stresses
contestability, enforceable contracts, long-term debt
instruments, proper pricing for infrastructure services
and above all transparent and non-discriminatory rules
of the game, according to the RBI.
Back
to News Review index page
|
