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Parliament
nod for UTI’s bifurcation
New Delhi: The Parliament on Tuesday gave its approval
for bifurcation of Unit Trust of India into two companies
UTI-I and UTI-II.
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RBI
worried over revenue shortfalls, not fiscal deficit
Mumbai: The Reserve Bank of India is concerned
about the revenue shortfalls faced by the Centre and several
state governments in the current year.
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ABN
Amro Bank chips in for wildlife conservation
Mumbai: 'Sanctuary', a wildlife magazine, has selected
seven people for their contribution to the defence of
wildlife and environment for ‘Sanctuary Wildlife
Awards 2002’ in association with ABN Amro Bank.
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BPCL,
Ashok Leyland Fin team up for ‘affinity card’
New Delhi: Ashok Leyland Finance Ltd is planning
to come out with ‘affinity cards’ in association
with Bharat Petroleum Corporation Ltd sometime around
mid-January 2003. It has obtained RBI’s approval
for the purpose.
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‘Higher
FDI may hinder listing of insurance JVs’
Mumbai: The insurance regulator feels that permission
to raise foreign equity in insurance joint ventures to
49 per cent could defeat the long-term objective of broadbasing
equity holding in these companies.
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Irda
against banks broking insurance products for now
New Delhi: The insurance regulator has told banks
that they cannot be allowed to take up broking of insurance
products for lack of enabling provisions in the Banking
Regulations Act.
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Another
VRS for banks under study
New Delhi: In a bid to further rationalise staff
strength, the Government is considering a second round
of voluntary retirement schemes (VRS) for public sector
banks. Some banks have asked for a second round of VRS.
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ICICI
Bank slaps notice on JK co
Mumbai: A group of lenders led by ICICI Bank has
issued a notice to take over the assets of JK Udaipur
Udyog Ltd (JKUUL) of the Hari Shanker Singhania-promoted
JK group to recover loans of about Rs 132 crore.
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PSU
insurers await Govt nod to implement VRS
New Delhi: The boards of the four public sector
insurance companies have cleared the voluntary retirement
scheme (VRS) for development officers and some categories
of clerical staff.
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IOB
to open more ATMs in Hyderabad
Hyderabad: Indian Overseas Bank (IOB) has announced
a detailed plan to computerise all its branches in Andhra
Pradesh and also expand its distribution channels in the
form of automatic teller machines (ATMs).
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Bank
Muscat's loan scheme for two-wheelers
Bangalore: Bank Muscat has launched a loan scheme
for the purchase of two-wheelers in Bangalore. The bank,
which set up shop here three years ago, has focussed on
the growing two-wheeler sector as its latest retail business.
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KNNL
to raise Rs 225 crore more by March-end
New Delhi: The bonds are likely to be privately
placed or through structured deals and/or availing term
loans from commercial banks during the current fiscal.
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UCO,
Allahabad banks revise rates
Mumbai: Both UCO Bank and Allahabad Bank have announced
revision of rates of interest on domestic term deposits.
For UCO, the revised rates will come into force from December
7 and for Allahabad Bank from December 4.
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