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Bank
Of India attaches assets worth Rs 1.74 crore
Mumbai: Bank of India has taken possession of assets
worth Rs 1.74 crore as on date under the Securitisation
Ordinance, while the news of attaching assets keeps flowing
in to the BoI headquarters from zonal offices in different
parts of the country.
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RBI
tells lenders to play a fair game
Mumbai: RBI has made it clear that banks and financial
institutions, armed with the new securitisation enforcement
law, must also honour their part of the deal.
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OM
Kotak accrues Rs 30-crore premium in 8 months of fiscal
Mumbai: Mumbai-based OM Kotak Mahindra Life Insurance
has mobilised Rs 30 crore of premium by selling 25,000
policies during the first eight months of the current
fiscal. The company is aiming to double both the premium
and policies in the next five months.
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CIFCL
Plans Pact For Home Loan Distribution
Chennai: Chennai-based non banking finance company
Cholamandalam Investment and Finance Company Ltd is looking
at entering into agreements with a slew of banks and housing
finance companies to distribute their housing loan products.
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Aviva,
ABN Amro tie up for child insurance scheme
Mumbai: Aviva Life Insurance plans to tie up with
a large private bank shortly in its quest to complete
a bouquet of distribution channels through the bancassurance
route.
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i-flex
solution for Bulgarian bank
Bangalore: i-flex Solutions has announced that
its flagship product Flexcube has been selected by Hebros
Bank in Bulgaria to centralise its banking operations
and provide the technology platform for accelerating retail
banking operations.
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Nabard
pegs Karnataka's credit potential at Rs 9,729 crore
Mumbai: The National Bank for Agriculture and Rural
Development (Nabard) has estimated a rural credit potential
in Karnataka of Rs 9,729 crore for the year 2003-04, up
from Rs 9,265 crore in 2002-03.
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Corpn
Bank eyes overseas turf
Mangalore: Corporation Bank is looking at overseas
markets, courtesy its tie-up with Life Insurance Corporation.
For starters, it has sought to leverage its relationship
with LIC to explore opportunities among the NRI population.
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Union
Bank sells 224 policies in two days
Mumbai: Union Bank of India yesterday said its
has sold 224 insurance policies in two days of commencing
its bancassurance business. The bank has tied up with
HDFC Standard Life Insurance Co Ltd to market life insurance
and pension products.
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Model
Steels assets seized
Vijayawada: Andhra Bank has taken possession of
Model Steels Private Ltd at Nidamanuru village near here
"in exercise of powers conferred under the Securitisation
and Reconstruction of Financial Assets and Enforcement
of Security Interest Ordinance, as the company has failed
to repay dues of Rs 2.76 crore within 60 days from the
date of notice.
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Indian
Bank seizes defaulter property in Coimbatore
Coimbatore: Indian Bank, Coimbatore circle, has
taken the lead among the nationalised banks that have
a presence here by taking possession of a property within
Corporation limits on Wednesday.
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