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Finance
ministry favours Ffll RBI control on co-op banks
New Delhi: The Union finance ministry is in the
process of bringing the inspection and audit of co-operative
banks, which is under the dual control of state governments
and the Reserve Bank of India, under the unitary control
of the latter with an officer of the rank of deputy governor
overseeing the functions.
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RBI
auction of 7.46 per cent 2017 paper gets huge response
Mumbai: The Reserve Bank of India’s auction
of the 7.46 per cent 2017 for Rs 4,000 crore on Monday
sailed through on the back of comfortable liquidity.
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Life
insurers consider TPAs to service critical illness covers
New Delhi: Life insurers have begun to think of
third party administrators for servicing their critical
illness covers.
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KVB
Net Up 32% In H1
Karur: Karur Vysya Bank Ltd has posted a 32.04
per cent growth in its net profit during the half year
ended September 30, 2002. Net profit of the bank stood
at Rs 47.15 crore as against Rs 35.71 crore during the
same period previous year.
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Irda
wary of allowing life firms to invest in equities
New Delhi: Emphasising the need for a cautious
approach on the investments in equities by life insurers,
Insurance Regulatory and Development Authority said the
capital markets had taken a severe beating with globalisation
and liberalisation.
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i-flex
banking solution for IMF
Bangalore: I-flex Solutions Ltd, a Bangalore-based
provider of integrated IT solutions for the financial
services industry, announced that it has been chosen by
the International Monetary Fund (IMF) to implement its
flagship banking product Flexcube.
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Not
interested in takeovers - PSBs prefer new home loans
Mumbai: Public sector banks have begun discouraging
taking over of retail loans in a bid to arrest shrinking
yield on assets.
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LIC
sets tough trend for private players
Coimbatore: Life Insurance Corporation of India's
outstanding claims ratio of 0.6 per cent, one of the world's
lowest, has created an unassailably tough act for the
new generation private life insurers to follow.
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Debt
market info on the Net
Mumbai: Investmentz.com, a division of Asit C Mehta
Investment Intermediates Ltd, a brokerage house, has launched
DebtMarketz.com, which will provide information on the
Net, especially for the small players in the debt markets.
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GTB
launches `e-Remit'
New Delhi: Global Trust Bank (GTB) on Wednesday
set up 10 new ATM centres here and also launched its e-Remit
facility. With e-Remit, GTB customers would now be able
to use Internet banking to transfer funds to any customer
of any branch.
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Allahabad
Bank lending up on retail boost
Chennai: Allahabad Bank's advances in the first
six months of the current financial year increased by
Rs 800 crore, compared to an increase of Rs 137 crore
in the same period last year.
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SIDBI
cuts capital gain bond rates
Mumbai: Small Industries Development Bank of India
(SIDBI) has reduced the interest rate on its on-tap issue
of capital gain bonds to 7 per cent per annum from 7.25
per cent. The lower interest rate is effective from October
17.
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