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RBI
sets up panel to streamline WMA limit
Mumbai: The Reserve Bank of India has constituted
an advisory committee to examine the existing scheme of
ways and means advances of the state governments and to
consider rationalisation of the WMA limit.
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Aviva
Life to harness NGOs for rural foray
Hyderabad: Aviva Life Insurance, the UK based multi-billion
insurance provider, has identified non-governmental organisations
as an appropriate medium to penetrate into rural India.
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Turnover
of 32 banks on BSE zooms 650 per cent in Sept
Mumbai: The BSE’s total turnover of 32 banks
increased by 650.3 per cent to Rs 1518.55 crore during
September 2002 from Rs 202.38 crore during August 2002.
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HDFC
opens Thrissur branch
Kochi: HDFC has opened its sixth office in Kerala
at Thrissur, which will cater to the housing requirements
of the residents of Thrissur, Kodungallur, Irinjalakuda
and other places in the vicinity.
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Federal
Bank cuts home loan rates
Kochi: Federal Bank has slashed interest rates
for its home loans. Housing loans are now available at
an interest rate of 9.50 per cent onwards, a fax from
the bank has said.
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LIC
decides not to pursue high-return schemes
Thiruvanathapuram: The Life Insurance Corporation
of India has taken an internal decision not to persist
with high-return-guaranteed plans as these have been found
to be unsustainable in a low-interest regime.
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ING
stake goes above 26% in insurance joint venture
Mumbai: Dutch financial major ING group has exceeded
the Insurance Regulatory and Development Authority (IRDA)
stipulated guideline of 26 per cent foreign holding in
its joint venture insurance company ING Vysya Life Insurance
Company Pvt. Ltd.
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GTB
board to meet on Oct 29
Hyderabad: The board of directors of Global Trust
Bank (GTB) is meeting on October 29 at Mumbai to consider
and take on record the unaudited financial results of
the bank for the second quarter of current fiscal year
ended September 30, 2002.
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Allahabad
Bank plans Rs 100-cr bond issue
Kolkata: Allahabad Bank, the old generation public
sector bank, is currently in the process of finalising
formalities for a tier-II capital issue to further augment
its capital to risk assets ratio (CRAR).
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Andhra
Bank not averse to taking Centurion'
Hyderabad: Andhra Bank, which is considering a
possible merger of Centurion Bank Ltd with itself, is
not averse to the idea of amalgamating the bank with itself,
despite the apparent weak financials of the latter.
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Bill
soon to repeal IDBI Act; IFCI package under way
New Delhi: At the meeting held by the Ministry
of Finance yesterday regarding IDBI issue, it was decided
that IDBI would not need a bail-out. However, IFCI might
require a helping hand, but the Government is not yet
sure as to what extent that would be.
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BECON-2002
to be held in Bangalore
Mangalore: Corporation Bank, under the joint auspices
of the Indian Banks' Association (IBA), will be hosting
the 24th bank economists' conference (BECON-2002) between
December 27 and 29 in Bangalore.
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