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SBI
Life to sell products through SBI branches
Chennai: SBI Life
Insurance Company, a joint venture between State Bank
of India and French insurer Cardif SA would market its
products through nearly 9,000-odd branches of the State
Bank of India spread across the country.
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Two
Indian banks among top 100 Asian banks
New Delhi: State Bank
of India and ICICI Bank are the only two banks from India
which figure among the top 100 banks in Asia in 2001,
according to a study. SBI with assets estimated at $68.9
billion is rated 26th among such banks while, ICICI Bank
is ranked 90th with $21.54 billion assets.
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Prudential
norms, fees for insurance brokers- Reinsurance fees left
to market forces
New Delhi:
The broad regulatory and business environment for insurance
broking has emerged with the Insurance Regulatory and
Development Authority penning down the prudential business
norms and the detailed fee structure that is to be included
in the proposed regulations for insurance broking firms.
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IRDA
to park surplus in public account
New Delhi:
The Insurance Regulatory and Development Authority (IRDA)
will cease to enjoy the freedom of parking its annual
surpluses in banks. It will, instead, have to mandatorily
park them in the Public Account of India.
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Private
insurance companies have performed better this year
New Delhi:
The new private sector life insurance companies have performed
much better this year than last year, accroding to P.A.
Balasubramanian, Member, Insurance Regulatory and Development
Authority (IRDA).
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Uniform
procedures for short-term credit
Mumbai: The Reserve
Bank of India has simplified the procedure for imports
into India by stipulating uniform regulations and procedures
for suppliers' credit and buyers' credit the two categories
of short-term credit.
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PDs
shifting focus to securitised papers
Mumbai: Primary Dealers
(PDs) have begun buying into securitised papers in a bid
to push up their effect yield on assets.
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IDBI
Bank to tap debit card potential
Mumbai: IDBI Bank
plans to focus more on tier II and III markets for its
recently launched international debit card.
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