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BPCL
completes first interest rate swap
Mumbai: Bharat Petroleum Corporation Ltd on Monday
completed its first interest rate swap for a loan of Rs
100 crore. Citigroup completed the interest rate derivative
transaction, a news release said.
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RBI
Eases Norms For Overseas Investment
Mumbai: The Reserve Bank of India has liberalised
and simplified the present policy of overseas direct investment.
The
central bank has permitted Indian companies to transfer
shares of their joint ventures or wholly-owned subsidiaries
abroad by way of sale under the automatic route.
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Bank
of Punjab in talks with Citi, NewBridge
Mumbai: Bank of Punjab is in talks with a few strategic
investors, including NewBridge Capital and Citibank, for
a possible placement of up to 49 per cent of its equity
through the preferential route.
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Pension
fund regulator to take off from New Year
Hyderabad: The much-awaited Pension Fund Regulatory
and Development Authority is scheduled to take off from
January 1 next year offering defined contribution schemes
to the newly-recruited Central Government staff, the Joint
Secretary in the Union Ministry of Finance, Mr U.K. Sinha,
announced here on Monday.
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CUB
plans to network 25 branches
Chennai: City Union Bank expects to be able to
network 25 of its 125 branches before the end of this
year. The bank has bought the core banking software of
Tata Consultancy Services, Quartz.
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MNYL
in bancassurance talks with co-op banks
Jaipur: In a bid to strengthen distribution, Max
New York Life Insurance Company (MNYL) is tying up with
two co-operative banks and will also enter into equity
tie-ups with other banks
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IDBI
Bill scrapes through in Lok Sabha
New Delhi: The government was highly embarrassed
when the treasury benches could not muster the strength
to pass the Industrial Development Bank of India (Transfer
of Undertaking and Repeal) Bill in the Lok Sabha.
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