BPCL bids for Tata Petrodyne
Mumbai: The Reserve Bank of India has said that no new licenses will be issued for Local Area Banks (LABs).

The apex bank has arrived at this decision in consultation with the Centre, after taking into account the recommendations made by the review group on the working of the LABs scheme, said a press release.
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Reinsurers reviewing India risk ratings
Bangalore: The Mumbai blasts have halted the softening trend of reinsurance rates for India-specific catastrophe risk covers and are now expected to directly impact domestic insurance premiums.

Sources said that global insurers have begun once again re-evaluating the risk ratings of the domestic insurance market.
The last time such a review took place was in December 2001.
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Tata Finance may be allowed to accept FDs again
Mumbai: Tata Finance Ltd is likely to get the Reserve Bank of India's approval to accept fixed deposits once again. The company had been prohibited from accepting deposits a couple of years ago, when it was unable to meet the capital adequacy norms set by the apex bank in the wake of the financial turmoil it had undergone.
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HDFC Bank in pact with Reliance Infocomm
Mumbai: HDFC Bank, in association with Reliance Infocomm and Schlumberger, has introduced `mobile' point of sale terminals, which will permit customers to pay at their doorstep through a plastic card. However, as of now, one can pay only for very limited products through this new mode, until the bank ties up with more retail establishments for the same.
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IDBI Bank chief sees clear roadmap ahead
Hyderabad: TWO major constraints that hampered the asset growth of IDBI Bank, starvation of capital and uncertainty over merger with its parent, IDBI have now been left behind. And this is what makes the IDBI Bank Acting Chief Executive Officer and Country Head (Retail Banking), Mr Ajay Bimbhet, bullish on the bank's growth opportunities.
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BoB Cards, Bank of Rajasthan to offer co-branded Visa card
Mumbai: BoB Cards Ltd, a wholly-owned subsidiary of Bank of Baroda, today signed an MoU with Bank of Rajasthan, to co-brand an international Visa Electron Debit Card. The card will be accepted at 6000 Visa ATMs in India and 8,10,000 ATMs globally.
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