Floating rates on PSB recap bonds from Sept
Mumbai: Public sector banks have earned a major reprieve with the government agreeable to reversing its decision to impose floating rates on 10 per cent recapitalisation bonds retrospectively.
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Allianz sees Indian insurance market poised for a churn
Mumbai: The Indian insurance regulator, N Rangachary, better be prepared. The two-year old liberalised insurance market with 21 private and five public sector companies is in for a churn.
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Additional credit committee for each SBI circle to expedite loan sanctioning
New DelhI: The State Bank of India (SBI), in an attempt to quicken the process of sanction of loan proposals, has assigned one additional circle credit committee in each of its 15 circles, according to SBI’s Bengal Circle chief general manager TK Keshavamurthy.ry
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SBI Life Insurance rolls out bancassurance in Bengal circle
Kolkata: SBI Life Insu-rance Co Ltd on Thursday announced the launch of bancassurance services in the Bengal circle of State Bank of India.
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Bye bye to `Ashoka Pillar' notes
Mumbai: The Reserve Bank of India, it appears, has decided to phase out the Ashoka Pillar series currency notes. The apex bank, has since November last, been instructing the banks against reissuing currency notes bearing the Ashoka Pillar emblem.
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Syndicate Bank plans to return Rs 100-cr capital
Bangalore: The public sector Syndicate Bank has proposed to reduce its paid-up capital base by Rs 100 crore in a bid to improve shareholder returns. This would be done during the course of the next financial year and the bank's board had already approved it, Syndicate Bank's general manager, B.S. Murthy said.
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Prudential Bank on a major recovery drive — Notices soon to defaulters for Rs 250 cr
Hyderabad: Prudential Bank, the city-based troubled urban co-operative bank, under the supervision of the newly-appointed Administrator, T. Satyanarayana Rao, has decided to go aggressive on recoveries of non-performing assets (NPAs) with the help of the powers conferred under the recently promulgated Securitisation Act.
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Clean up co-op banks to tap `project loans' again
New Delhi: The Finance Ministry, RBI and Nabard have jointly revived the idea of writing off losses of well over Rs 6,000 crore held by the co-operative credit system.
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Fewer complaints to ombudsman
Mumbai: The number of complaints received by the banking ombudsmen of the Reserve Bank of India during the year 2001-2002 was down by 2.5 per cent, as compared to those received in 1998-99, according to an RBI report reviewing the banking ombudsmen scheme for the period 1998-99 to 2001-02.
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