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SBI
Life Insurance teams up with GE, Maruti Countrywide
Mumbai: SBI Life Insurance Company on Tuesday announced
tie-ups with GE Countrywide to provide life insurance
cover against personal, two-wheeler and auto loans, and
with Maruti Countrywide to provide life insurance cover
against auto loans.
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RoCS
in a bind over RBI decision on Prudential Bank
Mumbai: The Reserve Bank of India’s recent decision
to supersede the board of Prudential Cooperative Urban
Bank has put the Registrar of Cooperative Societies, a
co-regulator of cooperative banks in the state, in a fix.
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HSBC
to guarantee saving on home, personal loans
Mumbai: After having entered the market with what
is apparently the cheapest home-loan offering at 8.5 per
cent, HSBC, in an attempt to grow its market share, is
set to launch a ‘guaranteed saving’ scheme for
home and personal loans.
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State
relieved as court stays recovery of Rs 50-cr arrears
Mumbai: The Maharashtra government has heaved a sigh
of relief as the Bombay High Court has stayed the recovery
of Rs 50-crore arrears towards interest, principal and
surcharge by Industrial Finance Corporation of India,
Industrial Development Bank of India, ICICI and others.
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Plunging
share prices may delay S Korea’s plan to privatise
banks
New Delhi: Plunging share prices are wrecking South
Korea’s plan to privatise state-owned banks as the
government will have to lower prices or delay the process
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Corpn
Bank to open more outlets in LIC premises
Mangalore: In pursuance of its `strategic alliance'
with Life Insurance Corporation (LIC), the Mangalore-based
Corporation Bank is opening 33 more service outlets on
LIC premises. These outlets, to be opened on March 26,
will be spread across Punjab,Chandigarh, Delhi, Rajasthan,
Jharkhand, Orissa, Maharashtra, Goa, Karnataka and Tamil
Nadu.
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Dena
Bank bond issue
Mumbai: Dena Bank has informed the Bombay Stock Exchange
that it has come out with an issue of 7 per cent unsecured,
redeemable, non-convertible subordinate bonds on private
placement basis. The bank plans to raise Rs 60 crore with
an option to retain over subscription up to Rs 40 crore.
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Bank
of India plans rating tool for SSIs
Mumbai: Bank of India (BoI) will shortly introduce
a credit rating system exclusively for the small-scale
industries (SSIs), factoring in the problems unique to
the sector, and things easier for borrowers from this
segment.
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Bank
unions want RBI to review stapling
order
Even while the Reserve Bank of India has sought compliance
on the `clean note policy', bank employees have decided
to defy the order on stapling of notes. Raising objection
to the introduction of non-stapling, the United Forum
of Bank Unions (UFBU), while advising its members to oppose
the policy, has appealed to RBI to restore the original
system of stapling the notes.
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Prudential
Bank staff `refuse' administrator
Hyderabad: At the headquarters of the Hyderabad-based
ailing Prudential Cooperative Bank, employees refused
to allow the Government-appointed Administrator to take
charge of the affairs while superseding its board of directors
on Tuesday.
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Move
to check NBFC, co-op bank frauds — AP Govt plans
special court for economic offences
Hyderabad: The members of the Andhra Pradesh Legislative
Assembly voiced their concern asking the government to
constitute a House Committee and prepare an action plan
to address economic offences that have rocked several
non-banking financial institutions.
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