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Yes
Bank's operations delayed
Mumbai: The promoters of Yes Bank have sought more
time from the RBI to start operations. The group has applied
for yet another extension of the banking licence due to
expire this month, according to sources close to the promoters.
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Postal
Department eyes rural life insurance market
New Delhi: The Department of Posts has drawn up
an elaborate plan to capture a sizable chunk of the rural
insurance market and has set a target of collecting Rs
7,160 crore as sum assured for its Rural Postal Life Insurance
(RPLI) scheme, which is nearly double of the Rs 3,612
crore sum assured collected in the previous year.
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ECGC
to sell insurance products
Mumbai: ECGC has tied up with the Mangalore-based
Corporation Bank for marketing its products. The bank
is expected to sell export insurance cover through its
select branches.
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State
Bank to go for contract farming finance
Mumbai: SBI has drafted a policy statement for
the promotion of contract farming and to leverage the
interest that the corporates are now showing in this area.
The bank has also circulated the policy statement to all
its branches and regional offices to enable them to take
a decision quickly.
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BoB
pays Rs 78.4 cr dividend
New Delhi: Bank of Baroda has paid a sum of of
Rs 78.40 crore to the Government as dividend for 2002-03.
The cheque as handed over by the BoB Chairman, Mr P.S.
Shenoy, to the Secretary, Banking, Mr N S Sisodia.
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Karnataka
Bank cuts rates
Mangalore: Karnataka Bank has announced reduced
interest rates for domestic term deposits with effect
from Monday. The rates on deposits would be applicable
for all fresh deposits and renewals of maturing deposit.
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