Barjeel to open branch in Abu Dhabi soon
Abu Dhabi: Barjeel will be the first licensed international brokerage firm to be established in Abu Dhabi. The new branch will offer a host of services including broking, distribution of IPOs and mutual funds, depository services and consultancy services for NR Is. 
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Govt to push for clean-up of PSU insurers' balance sheets
New Delhi: After public sector banks, it's cleaning-up time for the public sector general insurance companies. The Ministry of Finance has decided to stress that state-owned insurers should make adequate provisioning in future balance sheets to cover up losses suffered on various portfolios. 
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Kerala transport staff resent insurance premium hike
Kochi: The Kerala State Road Transport Workers' Federation has decided to organise a demonstration in front of the offices of the general insurance companies here on Thursday demanding withdrawal of hike in insurance premium. 
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Jindal Strips FD rated stable
Mumbai: Fitch Ratings India has revised the rating of the fixed deposit programme of Jindal Strips Ltd to `tA(ind)' from `Ind A-(FD)'. The rating outlook is stable. 
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Co-op bank application rejected
Mumbai: The RBI has rejected the licence application of the Manamadurai Co-operative Urban Bank Ltd, Manamadurai, Tamil Nadu, to carry on banking business. The bank is precluded from transacting the business of `banking as defined in the Banking Regulation Act 1949 (as applicable to co-operative societies) said an RBI press release
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SBI may offload stake in STCI - To swap shares in DFHI
Mumbai: State Bank of India (SBI) is expected to offload stake in Securites Trading Corporation of India (STCI) in exchange for shares in DFHI from common shareholders in the two primary dealers. 
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Bid time advanced for bonds auction
Mumbai: The time for submission of bids for auctions of treasury bills and Government of India dated securities has been advanced by the Reserve Bank of India. To be effective from October 16, the timing for the submission of bids for the 91-day and the 364-day Treasury bills will be advanced to 12:30 pm from the present 2:30 pm. 
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Fall in interest rates - NRIs shift to rupee deposits
Mumbai: Non-Resident Indians (NRIs) are increasingly shifting to rupee deposits with FCNR dollar accounts losing sheen on the back of falling interest rates. A one-year non-resident external (NRE) deposit (in rupees) now attracts a rate of anywhere between 6.75 per cent-7.50 per cent, whereas a one-year dollar deposit (FCNR) rate is capped at Libor minus 25 basis points. 
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Andhra Bank branch gets ISO-9001
Hyderabad: The specialised small scale industries (SSI) branch of Andhra Bank, located at Nacharam here, has been accredited with the Quality Management System certification conforming to ISO 9001:2000 standards by the Netherlands-based Det Norske Veritas Certification NV. 
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