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Pension
plan for happy greying
Coimbatore: The proposed launch of a plan by LIC
for citizens over the age of 55 guaranteeing an annual
return of 9 per cent would serve as one of the best investment
options for those seeking pensions.
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Private
players will miss mass pensions action
Mumbai: ICICI Prudential would have been happy
to have an opportunity to be part of the mass pensions
segment.
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No
big bang, but...
New Delhi: The expected big bang announcement on
freeing of foreign direct investment (FDI) limit in banking
ended in disappointment.Instead of lifting the 20 per
cent cap on FDI in State Bank of India (SBI) or other
nationalised banks as was being expected by the capital
markets, the finance minister, Jaswant Singh, limited
his tampering with the limits to only the private sector
bank where FDI of `at least 74 per cent' would be allowed
against the previous 49 per cent.
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It's
time for private banks to go rural
New Delhi: Private banks will be encouraged to
open more branches in rural areas, the Finance Minister
has said. The statistics seem to bear out the case that
private banks have hitherto been shy of going into India
interior.
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Savings
bank, repo rates cut
Mumbai: The Reserve Bank of India on Friday reduced
the interest rate on savings accounts from four per cent
per annum to 3.5 per cent with immediate effect.
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