CDR panel okays Oswal Chem Rs 2,300-cr debt restructuring
New Delhi: The empowered committee of the Corporate Debt Restructuring (CDR) mechanism, which met last week, has decided to give a lifeline to the beleaguered Uttar Pradesh-based Oswal Chemicals & Fertilizers Ltd by preparing a tentative restructuring package for its debt of over Rs 2,300-crore.
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Crucial meeting on SBI’s forex job division today
Mumbai: The country’s biggest public sector commercial bank, State Bank of India, has convened a crucial meeting on Tuesday to settle the continuing and controversial issue of equal distribution of forex operations between the bank’s Kolkata and Mumbai offices.
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Tata AIG targets village slice of $50-bn life insurance pie
Mumbai: Tata AIG Life Insurance has started eyeing the village slice of the insurance pie, especially in the South. The company has not merely crossed the stipulated minimum of five per cent in rural programmes, but has more than doubled it, according to Ian J Watts, country head, Tata AIG Life Insurance.
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ICICI-Pru rejigs 3 life products for more flexibility
New Delhi: ICICI Prudential Life Insurance on Monday revamped its LifeLink, LifeLink Pension and SmartKid products to make them more flexible.
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BoI to network 450 more branches
Mumbai: Bank of India will be networking 450 new branches to its existing fully connected network of 275 branches, according to D. Krishnamurthy, General Manager, Information Technology (IT).
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LIC Ernakulam division crosses Rs 100-cr mark
Kochi: The Ernakulam division of the Life Insurance Corporation of India has crossed the first premium mark of Rs 100 crore in the current fiscal and thus became one among the top 10 divisions in the country in business volumes.
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Indian Bank seeks to expand NRI clientele
Abu Dhabi: Indian Bank is seeking to expand its NRI client base and reassure its NRI customers regarding the future, following the bank's good performance in the past year, according to Ranjana Kumar, Chairperson and Managing Director of Indian Bank.
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Note-to-coin changer at Mumbai CST
Mumbai: A note-to-coin changer machine was installed by Union Bank of India at the Chatrapati Shivaji Terminus railway station in Mumbai on Monday.
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State Finance Corpn may not meet NPA recovery target
New Delhi: The corporation proposes to set up an asset reconstruction company to manage the non-performing assets as well as add new business through securitisation of NPAs from banks and other financial institutions.
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