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Clearing
Corpn set to launch money market platform
Mumbai: Having received the Reserve Bank's approval
and operative guidelines, the Clearing Corporation of
India is all set to launch its new money market trading
platform, Collateralised Borrowing and Lending Obligation
from January 20.
Clearing
Corporation of India (CCIL) is presently notifying its
members of access to the new, secured, money market instrument,
Collateralised Borrowing and Lending Obligation (CBLO).
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Western
Union signs pact with ING Vysya
Bangalore:Western Union has signed a pact with
ING Vysya Bank which would offer inbound money transfer
facility at the bank's premises across the country.
Initially,
the services would be available across 100 branches and
the facility is likely to be extended to all the 480 locations
of the bank by March 2003.
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Vysya
Bank to sell housing arm stake
Mumbai: The Board of Directors of Vysya Bank Ltd
at its meeting held on Tuesday gave in-principle approval
for the sale of its 85.91 per cent equity stake in its
housing finance subsidiary, Vysya Bank Housing Finance
Ltd (VBHF) to Dewan Housing Finance Corporation Ltd subject
to regulatory approvals.
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Maruti
Finance disbursements touch Rs 500 cr
Chennai: Maruti Udyog Ltd today said that car loans
disbursed under Maruti Finance have touched Rs 500 crore,
in the one year since its launch.
In
a press release, the company said that Maruti Finance
now covered almost the entire country, barring parts of
north India and Gujarat, where it would be rolled out
shortly.
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Sahara
group gets nod for insurance foray
Mumbai: The Insurance Regulatory Development Authority
(IRDA) has permitted the Sahara group to commence life
insurance business.
The
IRDA Chairman, Mr N. Rangachary, told newspersons in the
sidelines of a seminar organised by the Bombay Chamber
of Commerce and Industry on the issue of insurance broking
regulations that the IRDA had issued R1 permission to
the Sahara group, indicating the approval for the company
to enter insurance business subject to meeting further
regulatory requirements. Sahara's foray into the life
insurance business will take the total number of companies
in the insurance industry to 26.
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