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RBI
asks Dena Bank to pen capital restoration
Mumbai: The Reserve Bank of India has come down hard
on state-run Dena Bank and asked it to discuss capital
restoration plan and strategies for its successful implementation
to improve its financial position at its upcoming board
meeting on end-March 2003.
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Many
skeletons may fall out of IFCI’s cupboard if probed:
State
Mumbai: The Maharashtra government has said that many
scams may come to light if an inquiry is instituted into
the misuse of profits/interests earned by the Industrial
Finance Corporation of India on its lendings to the sugar
industry in the state.
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DCB
picks Infosys for core banking solution
Mumbai: Infosys Technologies will provide core banking
solutions to private sector Development Credit Bank to
improve operational efficiency of the bank and facilitate
it to launch value-added services like Internet banking.
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Corp
Bank to focus on car finance
Mangalore: Corporation Bank is planning to lay more
emphasis on retail portfolio, especially car finance,
in the next financial year.
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IRDA
may get annuity pie of pensions markets
New Delhi: While the Insurance Regulatory and Development
Authority (IRDA) might have lost the race for the new
pension regulator, the Government has in store a consolation
prize for it. According to the plans for the new pension
system,IRDA would continue to regulate the annuities and
other-related developments in the payout stage of the
new pension scheme even after the setting up of the Pension
Fund Regulatory and Development Authority (PFRDA).
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Centurion
Bank offers `SMS Alerts' facility
Mumbai: Centurion Bank has launched mobile phone-based
`SMS Alerts' a value-added premium service. Centurion
Bank customers with mobile subscriptions can get updated
information on their bank transactions through the `SMS
Alerts' service.
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Tata
AIG unveils indemnity cover for auditors
Mumbai: Tata AIG General Insurance Company has launched
its professional indemnity policy for chartered accountants.
The policy has been exclusively designed in consultation
with the Bombay Chartered Accountants Society for individual
chartered as well as their firms with one to five partners,
said Dalip Verma, Managing Director, Tata AIG General
Insurance Company, addressing a press conference here
on Wednesday.
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Retail
trading in gilts lacklustre
Mumbai: The Reserve Bank of India scheme for gilts
trading on the bourses seems to be facing a `chicken and
egg' situation Excepting a few, most primary dealers are
yet to even seek consent from their boards to participate
in the new initiative.
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DCB
plans retail focus in new fiscal
Mumbai: Development Credit Bank Ltd (DCB) is to change
its focus from wholesale banking to retail banking in
the new fiscal.
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RCS
panel to manage Charminar Bank
Hyderabad: Aa a part of its efforts to restructure
and revive the operations of the ailing Charminar Bank,
the city-based urban cooperative bank, the Andhra Pradesh
State Registrar of Cooperative Societies (RCS) has appointed
a seven-member person-in-charge committee for a period
of one year.
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