Curb expenses, says IRDA
New Delhi: In an interesting development, the Insurance Regulatory and Development Authority (IRDA) has directed all the four public sector non-life insurance companies - New India Assurance, Oriental Insurance, United India Insurance and National Insurance to bring down the level of
their management expenses.
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Traders park funds in long-dated securities
Mumbai: Bond markets remained steady during the week as traders preferred to book profits. The undertone, however, remained firm. The ten-year yield to maturity remained at 6.03 per cent, down slightly from the previous week's 6.04 per cent.
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Canara Bank cuts deposit rates
Mumbai: Canara Bank has announced a cut in its domestic term deposit rates for the period of one-year and more by 25 basis points ( 0.25 percentage points) with effect from January 13.
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IDBI Bank offers CMS with more capabilities
Mumbai: IDBI Bank has announced the launch of the `disbursement module' of its `cash management services', which, according to the bank, offers additional features to its corporate customers.
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SBI makes loans cheaper for judges, cops & teachers
Mumbai: Judges, cops and teachers can now get cheaper loans with banks spinning out new products to cash in on the great retail rush.
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