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Canara
Bank to raise Rs 300 cr via Tier-II debt
Canara Bank intends to come out with a Rs 300-crore
Tier-II debt issue to augment its capital base during
the current fiscal.
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SBI
attaches Nav Maharashtra's 6 properties
The State Bank of India's (SBI) industrial finance branch
here has attached six properties in Pune and Chakan of
the Nav Maharashtra Chakan Oil Mills, Ahmednagar for recovery
of Rs 10.4 crore. This follows the orders of the Debt
Recovery Tribunal (DRT), Pune, passed on October 29. Warrant
for seizure of property was issued on December 18.
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Small
is beautiful: Banks get down to micro-finance
Banks are doing what they know best as part of their social
initiatives: lending money. And micro-credit is emerging
as the social face of banks with HDFC Bank, ICICI Bank
and Citibank having launched their respective micro-finance
programmes.
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LGF
to sell LIC products
Lakshmi General Finance Ltd, part of the TVS group, will
distribute products of Life Insurance Corporation of India.
The non-banking finance company has already entered into
an agreement with LIC for the marketing arrangements.
Full story
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Crisil
Q3 net rises to Rs 5.48 crore
The Credit Rating Information Services of India on Friday
announced a net profit of Rs 5.48 crore for the quarter
ended December 31, 2002, against Rs 5.42 crore in the
corresponding quarter last year.
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ICRA
accords MAAA (SO) to Telco PTCs
Credit rating agency Icra on Friday assigned a conditional
rating of MAAA to the senior pass-through certificates
under Rs 200 crore Asset Backed Securitisation programme
originated by Telco.
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UTI
Bank to set up 16 more ATMs in Mumbai
UTI Bank is to set up 16 ATMs at the western railway stations
in Mumbai division. The ATMs would be located at stations
spread between Churchgate and Borivli and one at Surat,
UTI Bank said in a release here.
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