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Uco
Bank to infuse over Rs 100-cr Tier-II capital
Kolkata: UCO Bank will infuse over Rs 100-crore
Tier-II capital shortly. Another Rs 100 crore is likely
to be kept aside as a greenshoe option. This is expected
to shore up the bank's capital adequacy ratio (CAR), while
increasing its advances by Rs 3,000 crore this year.
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J&K
Bank To Set Up MF, Scouts For Partner
New Delhi: Jammu & Kashmir Bank has decided
to float a mutual fund subsidiary, and is in the process
of identifying a foreign strategic partner for the new
venture.
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ING
Vysya Life targets larger customer base
Kolkata: ING Vysya Life Insurance has set an ambitious
target to increase its customer base five times by the
end of the next calender year, according to the company’s
deputy managing director & president, Yvo R Metzelaar.
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Chola
General Insurance kicks off nationwide operations
Chennai: Cholamandalam General Insurance Company
Ltd, the insurance arm of the Rs 4,200 crore Murugappa
group, has formally launched its all-India operations
here on Monday.
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ICICI
Bank launches ‘Drivesmart’
Mumbai: ICICI Bank on Monday announced the launch
of ‘drivesmart’ a credit card package for the
fleet owners running goods and passenger transport vehicles.
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SBI
Life all set to launch maiden Pension Policy
Hyderabad: SBI Life Insurance Company (SBI Life),
a joint venture between State Bank and Cardif SA of France,
is gearing up to announce the launch of first-ever ‘Pension
Policy’, according to R Krishnamurthy managing director
and CEO of the company.
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Banks
likely to be freed of statutory requirements
Mumbai: The Reserve Bank of India is considering
a proposal to exempt banks from meeting SLR and CRR requirements
for their borrowings through the Clearing Corporation
of India (CCIL)'s new money market trading platform.
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RBI
warns against using `e-gold' as currency
Mumbai: The Reserve Bank of India has warned the
public that `e-gold' is not a currency of any sovereign
state and transactions with it is violative of current
regulations in force in India.
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Catholic
Syrian H1 net up 60 pc
Kochi: The net profit of the Thrissur-based Catholic
Syrian Bank has grown by 60 per cent to touch Rs 11.76
crore during the first half of 2002-03, as against Rs
7.34 crore reported for the corresponding period of last
year.
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United
Western net down in Q2
Mumbai: The Satara-based United Western Bank posted
a marginally lower net profit of Rs 85 lakh for the second
quarter ended September 30, 2002 as compared to Rs 88
lakh for the same period the previous year.
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Andhra
Bank wants RBI to make good Centurion `erosion'
Hyderabad: The Andhra Bank management has written
to RBI stating that prior to a decision on the matter,
the central bank should agree to compensate it for the
erosion through the Deposit Insurance Credit Guarantee
Corporation.
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Corpn
Bank cuts rates on deposits
Mangalore: Corporation Bank has brought down its
rates of interest on term deposits of nearly all maturities
with effect from October 21. The interest on deposits
in the `maturity band' of 46 to 90 days and 91 to 179
days have been brought down to 5.50 per cent and 5.75
per cent from 6 per cent.
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Karnataka
Bank to distribute MetLife products
Mangalore: The 79-year-old private sector Karnataka
Bank has signed an agreement with MetLife India for distributing
insurance products as a `corporate agent', according to
Ananthakrishna Chairman and CEO of the bank.
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