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Citibank
payment services stuck with IT non-compliant partners
Mumbai: Citibank, the largest issuer of credit
cards in India, is finding itself walled in by technically-backward
prospective partners in trying to give value-added services
to its card holders.
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Dena
Bank issues notices to recover Rs 316 crore
Mumbai: The Mumbai-based Dena Bank groaning under
stressed assets has issued 190 notices to defaulters involving
Rs 316 crore.
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Global
Trust mulls equity capital issue
Hyderabad: Global Trust Bank Ltd is looking at
raising tier-1 capital and proposes to appoint merchant
bankers for the same.
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AIG
keen on hiking stake in Tata-AIG to 49 per cent
Mumbai: The US-based American International Group,
the largest international insurance company, is keen to
increase its stake to 49 per cent from 26 per cent in
Tata AIG Life Insurance, as soon as the necessary regulatory
clearance is available.
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ICICI-Lombard
bags PPN deal
Kochi: ICICI-Lombard General Insurance Company
Ltd has opened the year with a bang and taken the Pillai
Perumal Nallur (PPN) Power Project insurance cover away
from the public sector insurers.
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IndusInd
gets nod for offices abroad
Mumbai: IndusInd Bank has received the RBI permission
to set up its first overseas representative offices in
Dubai and London.
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J&K
Bank 9-month net up
New Delhi: The
Jammu and Kashmir Bank Ltd (J&K Bank) has recorded
a net profit of Rs 236.18 crore for the nine-month ended
December 31, 2002, a 35 per cent jump over the net of
Rs 174.79 crore during the corresponding period in the
previous fiscal.
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Dena
Bank unveils debit card
Mumbai: Dena Bank has announced the launch of Dena
International Debit Card in association with Visa Electron.
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Central
Bank cuts deposit rates
Mumbai: Central Bank of India has reduced
its term deposit rates by 25 basis points for select slabs
effective January 15. For deposits with tenors between
91 days and 179 days, the interest rate has been cut to
5.25 per cent (5.50 per cent).
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Oriental
Bank trims deposit rates
New Delhi: Oriental Bank of Commerce (OBC) has
announced reduction of domestic term deposit rates from
January 13. The rate for deposits for a period of one-year
to less than 2 years has been reduced by 50 basis points
to 5.75 per cent.
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Tata
AIG launches pension plan
Mumbai: Tata AIG Life Insurance Co Ltd yesterday
launched `Nirvana', a pension plan for individuals. With
a minimum cover of Rs 50,000, this policy is available
for anyone between 18 and 55 years of age with the flexibility
to retire between 50 and 65 years.
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GTB's
`Videsh Mudra'
Hyderabad: Global Trust Bank has announced the
launch of `Videsh Mudra' enabling the resident Indians
to retain the foreign exchange acquired by them in a current
account with the bank.
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Corporation
Bank, Dena to share ATM networks
New Delhi: Corporation Bank and Dena Bank have
decided to share their ATM networks to bring the combined
strength of ATMs to 600 by March. At present, Corporation
Bank has a tie-up with Karnataka Bank and the Delhi-based
Oriental Bank of Commerce for ATM sharing.
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Union
Bank to market insurance products
New Delhi: The Union Bank of India has finalised
plans to market general insurance products from the end
of this month. The Bank would join hands with New India
Assurance for the distribution of general insurance products.
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