Life’s a fair play, insurance body to adopt ‘code of good practice’
Mumbai: The life insurance council is expected to adopt a ‘code of good practice’ for industry self-regulation at a meeting scheduled in Hyderabad on Monday.
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Insurance cos offload high-coupon securities
Mumbai: Bond markets remained subdued during last week due to the liquidity mopping-up operations while the undertone of the market remained firm. The ten-year yield to maturity (YTM) on a weighted average basis ended the week at 6.40 per cent, up from the previous weekend.
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Lenders seek to shut BIFR door against defaulters
Banks and financial institutions (FIs) are opening up a new front in their offensive against defaulters. Lenders are now busy joining hands to drill a hole in Board for Industrial and Financial Reconstruction (BIFR) umbrella that for long was was being used by defaulters as a shelter whenever creditors appeared to be on hot pursuit.
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Karur Vysya seizes properties in 8 cases
Coimbatore: In a swift turn of events, Karur Vysya Bank has taken possession of properties in 8 cases, all of them residential, as per the provisions conferred on the banks by the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Second) Ordinance 2002.
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