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RBI
lists out early warning signals to arrest NPA slide
Mumbai: The Reserve Bank of India has issued an
illustrative list of features for loan accounts being
classified as potential non-performing accounts.
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BoR
inks pact to sell Birla Sun Life insurance products
Mumbai: Bank of Rajasthan Ltd on Tuesday announced
a tie-up with Birla Sun Life Insurance for distributing
its life insurance products. A memorandum of understanding
was signed to the same effect between the two companies
on Tuesday.
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Sundaram
Home to leverage SFL strength for Rural push
Chennai: Sundaram Home Finance Ltd, subsidiary
of Sundaram Finance Ltd, is planning to gradually penetrate
into smaller towns.
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IDBI
Bank incentivises home loan balance transfer
Mumbai: IDBI Bank on Wednesday launched a marketing
scheme aimed at incentivising customers who are paying
higher rates on their home loans to balance-transfer loans
to the bank.
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Allahabad
Bank plans to expand in south
Mumbai: Allahabad Bank, which will raise Rs 100
crore by the month-end through an initial public offering,
is planning to expand its presence in south India in the
next few years.
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ABN-Amro
to upgrade dealing room
Mumbai: Foreseeing the potential in the Indian
financial markets, the Dutch, ABN-Amro Bank N.V. and ABN
Amro Securities (Indian) Pvt Ltd have invested around
Rs 4.7 crore (1 million euro) to upgrade its dealing room.
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Re
gains 4 paise; gilts rise
Mumbai: The rupee closed stronger on Wednesday
by 4 paise at 48.3175/3275, as compared to Tuesday's close
of 48.35/3550 against the dollar in the forex market.
The domestic currency opened higher, gained strength on
lack of demand.
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Andhra
Bank cuts home loan rates
Hyderabad: Andhra Bank has slashed interest rates
on its housing loans as part of its special housing campaign
from October 4 to November 15.
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Insurance
pool system goes
Bangalore: Domestic general insurance companies
have quietly abandoned the pool arrangements, which allowed
for sharing of risks amongst all the domestic companies.
Sources said that this arrangement had been dropped in
view of resistance from the private insurance companies.
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PSB's
loan scheme for medical practitioners
New Delhi: The Punjab and Sind Bank (PSB) has launched
a new loan scheme for medication practitioners - Swasthya
Scheme. Loans can be availed under the scheme by qualified
medical practitioners to set up their own clinics, diagnostic
centres, purchase of equipment and modernisation of their
units.
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Lending
curbs on banks may spur term money market
Mumbai: The nascent term money market is likely
to develop as a fall-out of the new lending restrictions
on banks in the call money market.
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Allahabad
Bank to merge subsidiary
Mumbai: Allahabad Bank plans to merge with it `AllBank
Finance Ltd,' a wholly-owned subsidiary shortly, according
to Dr B. Samal, Chairman and Managing Director. However,
he did not confirm when exactly the merger is scheduled.
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No
move now to raise cap on voting rights in banks
Mumbai: Large shareholders of private and foreign
banks who are feeling partially disenfranchised under
the present banking laws will have to wait for some time
for getting their grievance on voting rights redressed.
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