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IDBI
to kick off roadshows for $75-m loan this weekend
Mumbai: Industrial Development Bank of India is set
to kick off roadshows by this weekend to raise an external
syndicated loan of $75 million, with a greenshoe option
of $20 million.
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RBI
clarifies on NPA classification
Mumbai: In a reprieve to borrowers who pay up on their
non-performing accounts (NPA), the Reserve Bank of India
(RBI) has clarified through a circular dated February
10, 2003 that if arrears of interest and principal are
paid by borrower in case of loans classified as NPA, the
account would no longer be treated as NPA but instead
be classified as "standard account."
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Students
from IIM, Narsee Monjee Bag Crisil Awards
Mumbai: In order to encourage talent and promote excellence
among India’s future business leaders, Crisil, India’s
premier credit rating, advisory and information services
company, has awarded 13 dynamic students as Crisil Young
Thought Leaders for 2002.
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Pune
company slaps notice on FIs citing breach of trust
Pune: Financial institutions ICICI, IDBI and Sidbi
have referred the Pune-based Dynamic Logistics to the
Debt Recovery Tribunal for recovering loans granted for
expansion purposes.
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RBI
statement on states auction leads
to liquidity pressure
Mumbai: The Reserve Bank of India’s announcement
on Wednesday that some state governments would tap the
market for raising Rs 14,151 crore before the end of the
fiscal (next month-end) has led to the fear of liquidity
pressure on the market from the next reporting fortnight
starting from Saturday (February 22).
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Govt
may allow 100 per cent FDI in private banks
New Delhi: The government is set to consider a proposal
to allow 100 per cent foreign equity in domestic private
banks through the automatic route, a hike in equity ceiling
for the insurance sector to 49 per cent, besides opening
up foreign direct investment (FDI) in a host of other
sectors.
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Training
deadline extended for TPAs
New Delhi: The Insurance Regulatory and Development
Authority (IRDA) has decided to extend the deadline for
compulsory training for third party administrators (TPAs)
in the health insurance services.
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Catholic
Syrian ties up with Birla Sun Life
Kochi: The Thrissur-based Catholic Syrian Bank will
be distributing the products of Birla Sun Life Insurance
Company Ltd. The bank and the insurance company announced
their strategic alliance on `Banking on Life', the bancassurance
brand of Birla Sun Life at Thrissur.
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