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Iffco-Tokio
sees 131 per cent more premium income
New Delhi: Iffco-Tokio General Insurance Co Ltd
has targeted a 131 per cent rise in premium income in
the current financial year to March 31, 2003, according
to CEO & MD Ajit Narain.
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HSBC,
ABN, ING keen on IDBI stake in bank
Mumbai: Three of the world's biggest banks - HSBC,
ABN Amro and ING - have shown interest in acquiring a
portion of IDBI's stake in IDBI Bank, joining a growing
queue of prospective bidders for one of the country's
youngest private sector banks.
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ICICI
Bank cracks whip on Jord Engineers
Mumbai: ICICI Bank on Friday issued a notice to
Jord Engineers India Ltd, promoted by Rakesh Chaturvedi
of Mathura, under the Securitisation and Reconstruction
Ordinance.
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HDFC
Bank teams up with Orange
Mumbai: HDFC Bank has tied up with Orange to get
pre-paid cards of customers refilled for any desired amount
via short messaging service.
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Andhra
Bank’s takeover plan for Centurion assumes new turn
Mumbai: The Centurion Bank takeover by Andhra Bank
has assumed a new dimension with the proposed acquirer
believed to have asked the Reserve Bank of India for full
compensation in view of the former’s net worth erosion
or impose a moratorium.
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AMP
Sanmar bullish on India
New Delhi: AMP Sanmar, a private player in life
insurance business , is not unduly perturbed by the Kelkar
Committee prescription for lifting tax exemptions on investments
in life insurance instruments.
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LVB
first to sign corporate agency pact for insurance
Coimbatore: Lakshmi Vilas Bank has earned the distinction
of becoming the first corporate agent in the country for
marketing of insurance products. Hitherto, none of the
agents or banks that have been marketing life insurance
policies had entered into a corporate agency agreement.
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Canara
Bank extends credit line to Russia
Mumbai: Canara Bank has extended a $10-million
line of credit to the Bank for Foreign Economic Affairs
of Russian Federation (Vnesheconom Bank). A memorandum
of understanding to this effect was signed between the
Canara Bank chairman, R V Shastri, and V A Chernukhin,
chairman of Vnesheconom Bank, on December 4.
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CBI
probe into cheque fraud at PSB branches
New Delhi: The CBI is probing irregularities in
cheque transactions totalling about Rs 93 crore involving
the Mumbai Fort, Hall Bazar Amritsar and Surat branches
of Punjab and Sind Bank (PSB).
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RBI
hikes 91-day T-Bills auction to Rs 1,000 crore
Mumbai: The Reserve Bank of India has enhanced
the notified amount in the 91-day treasury bill auction
to Rs 1,000 crore from the current amount of Rs 250 crore,
effective December 11 to January 1.
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SBI
Hyderabad circle in aggressive recovery mode
Hyderabad: The Hyderabad Circle of State Bank of
India (SBI) has decided to go aggressive in its recovery
efforts. The circle served notices on 47 defaulters in
Andhra involving an amount of Rs 32 crore, the SBI deputy
general manager, commercial banking department, B S Prakash,
said.
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Poster
campaign by bank staff
Kochi: The Kerala branch of Bank Employees Federation
of India (BEFI) is organising a state-wide poster campaign
beginning from December 9 highlighting the dangers of
privatisation and the threats posed by the "communal
and fascist forces".
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