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RBI
almost through with govt borrowing for current fiscal
Mumbai: The Reserve Bank of India is more or less
through with the government’s borrowing programme
for the current fiscal. At last count, it had raised Rs
1,12,000 crore out of the budgeted Rs 1,16,779 crore.
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Return
on main income of 33 banks rises to 13.5 per cent in third
quarter
Mumbai: The return on main income of 33 banks increased
during the period between October-December, 2002 as against
the previous level in the corresponding period of last
year, indicating an improvement in the performance of
quoted banks.
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LIC
Housing cuts lending rates
Mumbai: LIC Housing Finance Ltd has reduced interest
rates by 50 to 70 basis points with effect from February
4. D. Krishnan, general manager (marketing), LIC Housing
Finance Ltd, informed this at a press conference here
on Friday.
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Birla
Sun Life plans to sell 90000 policies
Mumbai: Birla Sun Life Insurance Co Ltd expects
to report a first premium income of close to Rs 200 crore
in the current financial year through sale of close to
90,000 policies, the chief executive officer, Nani Javeri,
has said.
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LVB
to roll out insurance products
Hyderabad: The Karur-based Lakshmi Vilas Bank (LVB),
which had tied-up with Aviva Life Insurance, a joint venture
between the Dabur group and CGU for the distribution of
life products, has chalked out a programme to roll out
insurance products in AndhraPradesh from next week, beginning
with Visakhapatnam.
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ICICI
Lombard to double capital
Mumbai: ICICI Lombard General Insurance Company
will shortly double its paid- up equity capital to Rs
220 crore from the current level of Rs 110 crore.
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Tata
AIG earns Rs 165-cr premium income
Mumbai: Tata AIG General Insurance Company Ltd
has earned a premium income of Rs 165 crore in the first
nine months of the current financial year, as against
Rs 85 crore in the whole of last year, company officials
said yesterday.
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Indian
Bank gets Rs 770-cr recap; CAR rises to 9 per cent
Mumbai: Indian Bank has received a sum of Rs 770
crore as capital from the union government. With this
recapitalisation, the bank's capital adequacy rises to
9 per cent.
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ICICI
Bank bonds reaffirmed `AAA'
Mumbai: CARE has reaffirmed the `AAA' rating (CARE
AAA) assigned to various outstanding debt instruments
of ICICI Bank Ltd (IBL).
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Federal
Bank staff plan stir
Coimbatore: The stand-off between the management
and Federal Bank Employees Union appears to have widened.
The union has decided to intensify its agitational path
by calling upon members to observe a work-to-rule stance,
besides conducting demonstrations daily, from February
1, in front of almost all the branches of the bank.
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