Chaos at Mogaveera Bank as six directors resign in revolt
Mumbai: Six directors of the Mumbai-based The Mogaveera Co-operative Bank Ltd have put in their papers in protest against what they allege are the activities of the present chairman of the bank DL Amin.
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LIC eyes Rs 90,000 cr premium in 2002-2003
Coimbatore: The Life Insurance Corporation (LIC) has set for itself a target of Rs 90,000 crore in premium income in the current fiscal, even as it contemplates withdrawal of more assured returns schemes in case of a further fall in interest rates.
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Sundaram Finance to boost fleet card biz with DSAs
Chennai: Sundaram Finance, part of the TVS group of companies, is taking the direct selling agents route to ramp up its fleet card business. The company has issued about 3,500 cards so far to truck operators.
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Rs 1000-cr auction sees Rs 94.8 cut-off price
Mumbai: The Reserve Bank of India on Wednesday set a cut-off price of Rs 94.80 for the Rs 1,000 crore 364-day treasury bill auction and Rs 98.63 for the Rs 1,000 crore 91 day treasury bill auction. Both the offerings were fully subscribed.
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Pension disbursal: EPFO ties up with HDFC Bank
Mumbai: The Employees' Provident Fund Organisation has entered into an arrangement with HDFC Bank for the disbursement of pension under the Employees' Pension Scheme 1995 through its branches all over the country.
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i-flex solution for Nigerian bank
Bangalore: i-flex Solutions has announced that United Bank for Africa Plc (UBA), one of the leading banks in Nigeria has gone live on FLEXCUBE Electronic Bill Presentment and Payment (EBPP).
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Bajaj Allianz targets Rs 300-cr premium
Mumbai: Bajaj Allianz General Insurance Company Ltd the joint venture between Bajaj Auto Ltd and Allianz AG, Germany, is positive of closing the current fiscal on a profitable note.
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Birla Sun ties up with Steel City Insurance
Mumbai: Birla Sun Life Insurance has tied up with Steel City Insurance Agencies Private Ltd here, a division of Steel City Securities, to sell insurance products.
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SBT posts Rs 100-cr net profit
Kochi: State Bank of Travancore (SBT) has posted a net profit of Rs 100.40 crore for the nine months ended December 31, 2002. This represents an increase of 37.01 per cent over the Rs 73.28 crore profit made during the corresponding period of the previous year.
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EIB to resume lending to India
New Delhi: The Euro 220-billion European Investment Bank on Wednesday said it would resume lending to India, a decade after it made its first investment foray into Asia with a Euro 55-million loan to PowerGrid Corporation.
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UCO Bank recovers over Rs 2-cr NPAs
Mumbai: UCO Bank has been able to recover a little more than Rs 2 crore from 214 defaulting accounts after having issued notices to them. In all, 1,048 notices involving more than Rs 74 crore were issued to defaulters of loans.
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Nabard ties up with Corpn Bank
Mumbai: National Bank for Agriculture and Rural Development (Nabard) and Corporation Bank have signed a MoU for the co-financing of hi-tech agricultural, agro-processing and export-oriented projects.
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