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Retail
banking thrust helps IDBI Bank turn around in Q2
Mumbai: IDBI Bank managed to make a turnaround
in its second quarter performance as compared to that
of the previous quarter by making new forays into the
retail finance sector in a big way.
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Andhra
Bank open to acquiring small banks
Hyderabad: Andhra Bank is open to acquiring smaller
banks if they can add value to the bank’s operations,
the bank’s chairman and managing director, B Vasanthan,
said on Thursday. Full story
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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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Crisil
arm takes interest in integrated Ccre sector projects
New Delhi: The Credit Rating Information Services
of India Ltd’s arm, Crisil Infrastructure Advisory
has undertaken integrated infrastructure development projects
in various states.
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ABN
Amro Bank foresees future in securitising assets
Mumbai: Asset securitisation including future recievables,
loan syndication and derivatives will be the key focus
area for the global financial market operations of ABN
Amro Bank in India, said the bank’s senior executive
vice president and global head of financial markets, Piero
Overmars.
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PNB
Gilts shifts focus to co-ops, RRBs
New Delhi: PNB Gilts has shifted focus to the co-operative
banks and regional rural banks in a bid to push up turnover
of securities trading. PNB Gilts Ltd is the securities
trading arm of the public sector Punjab National Bank.
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HDFC
mulls bonus issue
Mumbai: The board of Housing Development Finance
Corporation Ltd (HDFC) is to consider a bonus issue and
a proposal for a five per cent share buy-back. The board
would meet on October 17 to decide on these two proposals,
an official statement said.
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DCB
to sell Birla Sun Life products
Mumbai: Birla Sun Life Insurance has tied up with
Development Credit Bank (DCB) for the distribution of
its life insurance products.
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IRDA
warns insurers on motor tariff norms breach
New Delhi: Exasperated at the continued violation
of motor tariff norms by insurance companies, the Insurance
Regulatory and Development Authority (IRDA) has written
a letter to the chief executives of the companies reminding
them of the existence of the regulator whose directives
need to be obeyed by the companies.
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Large
withdrawals at United Western Mumbai branches
Mumbai: The Satara-based United Western Bank Ltd
said that it faced large withdrawal of deposits from two
of its branches in Mumbai. A bank official said he suspected
rumours spread by "vested interests'' that the bank
had suffered losses on account of of its exposure to the
stock market, had triggered the withdrawals.
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No
VRS plans for India: StanChart
Mumbai: Standard Chartered Bank, which announced
the legal integration of Grindlays Bank early last month,
has no plans to introduce yet another round of VRS for
its employees in India, according to Mr Jaspal Bindra,
Chief Executive of Standard Chartered Bank.
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IDBI
to be recast as stand-alone bank - Package awaits Jaswant's
nod
Mumbai: The Government is set to approve shortly
a restructuring package for Industrial Development Bank
of India (IDBI) featuring the conversion of the institution
into a commercial bank on a stand-alone basis.
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RBI
suggests mechanism to spot potential
bad assets
Mumbai: The Reserve Bank of India has suggested
that banks follow an early warning system for preventing
accounts from turning into NPAs.
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Andhra
Bank not keen on Centurion; fears erosion
Mumbai: Andhra Bank is understood to have told
the Reserve Bank of India that it would consider takeover
of Centurion Bank only if it is compensated for the negative
net worth of the bank from DICGC funds.
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Good
response expected for finance expo
Kochi: As many as 40 leading banks, financial institutions,
insurance and mutual fund companies are expected to participate
in the month-long exposition on banking and insurance
- Finanz-02 - which is to begin at Thrissur on November
1.
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