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UTI
sheds strategic stakes in top firms
Mumbai: The Unit Trust of India has scaled down
its strategic holdings in several leading companies like
ITC, Reliance, Telco, Hindustan Lever and BSES during
the January-March quarter of '03, according to data collated
from company filings.
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NIA
hopes to cash in on reach of banks, FIs
New Delhi: New India Assurance is eyeing the huge
branch network of public sector banks (PSBs) and financial
institutions for extending its reach to their vast clientele.
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Contributory
pension scheme for new govt employees likely
New Delhi: A contributory pension scheme for new
entrants to government service is likely to be announced
by the end of next month, Finance Secretary S Narayan
said.
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Union
Bank gets ISO-9001-2000 for 64 branches, 3 extension counters
Mumbai: Union Bank of India has become the first
bank to obtain ISO-9001-2000 quality certification for
its branches in the country.
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Crisil
issues safety ratings for Citibank securitisation
Mumbai: Crisil has assigned rating for high degree
of safety to Citibank NA’s Rs 208.4 crore securitisation
programme.
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Union
Bank in talks to expand ATM network
Mumbai: Union Bank is tying up with more banks
for the sharing of ATM network. Soon after the forging
of alliances between four public sector banks for the
sharing of their ATM networks last week, Union Bank is
currently engaged in talks with a public banks for the
sharing of their ATM networks last week,
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Maruti,
SBI tie up for co-branded financing
New Delhi: Maruti Udyog Ltd (MUL) has forged a
tie-up with State Bank of India (SBI) for offering co-branded
financing option for buyers of Maruti vehicles. Christened
SBI-Maruti Finance, the tie-up provides loans for purchase
of Maruti cars at the rate of 10.5 per cent and 11.25
per cent for three years and more than three years, respectively.
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PNB
to vend New India products
New Delhi: Punjab National Bank (PNB) has entered
into an alliance with New India Assurance for selling
its general insurance products while planning to get into
the life insurance business along with Apollo Tyres, Vijaya
Bank and Principal Financial Group of US.
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State
Bank of Mysore to manage Karnataka's treasury operations
Bangalore: State Bank of Mysore will take over
the treasury operations of Karnataka Government in Bangalore
city from Reserve Bank of India, its Managing Director,
Sitarama Murty, said.
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