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Vijaya
Bank to launch 'Vijaya Raksha'
Hyderabad: Vijaya Bank is planning to launch a
new value-added scheme, Vijaya Raksha, beginning January
1, 2003, for its customers.
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10-yr
yield dips to 6.08 per cent, repos
cut hopes gain pace
Mumbai: The benchmark 10-year yield fell to a life-low
of 6.0852 per cent in intra-day trades on Monday, even
as hopes of a technical correction gained ground. A 25
basis points repos rate cut is widely expected in the
market.
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LIC
losing market share, says ORG-MARG
Mumbai: Third quarter brand tracking by ORG-MARG
has found that the state-owned Life Insurance Corporation
is losing its earlier preferred position while private
life insurers like ICICI Prudential, HDFC Standard Life
and Tata AIG have managed to increase their share among
customers.
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Ashok
Leyland Finance to securitise vehicle receivables
Mumbai: Ashok Leyland Finance Ltd, part of the
Hinduja Group, is planning to securitise vehicle receivables
of Rs 200-250 crore during the last quarter of this fiscal.
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BoR
in consolidation mode; buys 16 per cent in Bharat Overseas
Bank
Mumbai: In a bid to consolidate its operations,
the Bank of Rajasthan is in the process of acquiring an
additional 16 per cent stake in the ailing Bharat Overseas
Bank.
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ICICI
Pru teams up with LKB
New Delhi: ICICI Pru Life Insurance which has tied
up with Kerala-based Lord Krishna Bank is generating 15
per cent of its business from bancassurance channel.
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TCS
solution for City Union Bank
Mumbai: Tata Consultancy Services (TCS) has bagged
an Rs 15-crore order from City Union Bank (CUB) for implementing
its core banking and market risk solution for the bank.
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Mediclaim
premiums to be hiked 6 pc
Bangalore: Mediclaim policy premiums are to be
hiked effective January 1 by about six per cent by the
four public sector insurance companies - New India Assurance
Company Ltd, National Insurance Company Ltd, United India
Insurance Company Ltd and the Oriental Insurance Company
Ltd.
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MSRDC
redeeming Regular Return Bonds
Mumbai: The Maharashtra State Road Development
Corporation (MSRDC) on Monday commenced redemption of
its Rs 800-crore Regular Return Bonds series - I by issuing
a cheque of Rs 175 crore to the Unit Trust of India.
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Canara
Bank may recover Rs 279 cr in second half
Mumbai: The spurt in bad loans recall is likely
to help the bank compress its non-performing asset (NPA)
ratio to 3.50 per cent by March-end from 3.84 per cent,
as reported on September-end.
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Netravati
Grameena hikes deposit rates
Mangalore: Netravati Grameena Bank has increased
its interest rates on term deposits invested for a period
of over one year to 8 per cent, with effect from December
27.
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