Bajaj Allianz mobilises Rs 128-crore H1 premium 
Mumbai: Bajaj Allianz General Insurance a joint venture between Bajaj Auto and the Germany-based Allianz has mobilised a premium of over Rs 128 crore in the first half of the current fiscal. The company hopes to achieve break-even in the next two years. 
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IDBI set Tt tap market with Rs 300-crore flexibonds in 02-03 
Mumbai: The Industrial Development Bank of India is set to hit the market with a new Flexibonds series of bonds for the year 2002-03 on October 10 in the form of 15th issue for Rs 300 crore with a greenshoe option for the same amount. 
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Lakshmi General eyes insurance broking 
Chennai: Chennai-based Lakshmi General Finance Ltd is all set to foray into insurance broking business as corporate agent. The company would apply for license once the Irda comes out with the guidelines for corporate agents. 
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UCB heads form panel to tackle credibility issues 
Mumbai: Heads of the leading urban co-operative banks have recently formed a committee to address the credibility crisis of co-operative banks. 
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PFC raises Rs 324 crore in bond market without intermediaries 
New Delhi: Power Finance Corporation has successfully raised Rs 324 crore in the domestic bond market without hiring any lead managers or consultants for the issue. 
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TCS to implement trade finance solution for SBI
Mumbai: Tata Consultancy Services (TCS) has announced that it has been selected by State Bank of India (SBI) to implement a centralised trade finance solution for the bank, using a software solution provided by a Chinese company, China Systems. 
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BoB Housing cuts rates
Coimbatore: BoB Housing Finance Ltd (HFL) has cut the interest rate on housing loans by 0.5 per cent from October 1. According to a statement, BoB HFL has reduced the variable rates to 10.5 per cent for loan periods ranging between 1 and 20 years and the fixed rate to 10 per cent for loans in the one and 5-year period. 
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Central Bank cuts rates on housing
New Delhi: Central Bank of India has reduced the interest rates on housing loans with effect from October 1 in view of the ensuring festive season, the bank's Executive Director, V.N. Saxena, has said. 
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LIC says no to takeover of term loans by banks
Bangalore: Life Insurance Corporation of India (LIC) has declined to allow any form of loan takeover from its portfolio by banks and financial institutions. Sources said here that some of the utilities, public sector undertakings and private sector corporates who had availed of long-term project loans had approached the financial institutions for such loan takeovers by other banks or financial institutions. 
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Affordable insurance cover against cancer
Mumbai: Cancer insurance for Rs 5,000... Hard to believe, yet true. The Cancer Patients Aid Association, a Mumbai-based NGO, provides a policy that is easy on the pocket and an important source of succour for those afflicted by this painful disease. 
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SBM celebrates 90 years
Bangalore: State Bank of Mysore has launched year-long celebrations to mark its 90th year of existence. The bank was set up on October 2, 1913 on the recommendation of a banking committee headed by M. Visvesvaraya. 
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Citibank issue gets `AAA'
Mumbai: Citibank has securitised two pools of assets its had purchased from Ashok Leyland Finance Ltd (ALFL) backed by car, commercial vehicles and construction equipment hire purchase receivables. The Rs 28.30-crore transaction has been rated `AAA' by crisil. 
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TN: Prime property deals thru Debt Recovery Tribunal
Chennai: "House, ground and premises bearing door No.6 (Old No.42) P.M.K. Colony, Chennai-34, to be auctioned off on 24.10.2002 at 3 p.m. Upset price Rs 59.50 lakh". 
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TN SSIs move High Court for bank loan waiver
Chennai: Small-scale units in Tamil Nadu have in a writ petition sought a direction from the Madras High Court to waive their dues to banks "as has been done by them for big industrialists". 
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Gujarat has little time to tackle co-op bank scam
Gandhinagar: The co-operative banking sector in Gujarat continues to be in a shambles despite over half a dozen UCBs falling like nine pins in the last couple of weeks. The State Government, which has gone on an overdrive on the election front, despite no no firm dates being declared, is yet to give a clear-cut directive to the cooperative department or even the Home department to formulate plans on recovering thousands of crores of rupees which has simply disappeared from these banks. 
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