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ICICI Bank expects interest rates to rise by 50 basis points
Mumbai: Kalpana Morparia, deputy managing director ICICI Bank said higher oil and commodity prices could drive up interest rates by 50 basis points by March 2006.

Morparia said she expected the Indian economy to expand 8 per cent in the year to March 2006, boosted by strong growth in the services and manufacturing sectors.
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United India in bancassurance pact with Bank of Rajasthan
Mumbai: United India Insurance Company (UIICL) has signed a memorandum of under standing with Bank of Rajasthan for a bancassurance tie-up.

As per the agreement the Bank of Rajasthan will sell the latter's non-life insurance products to corporates and individuals.

The alliance with United India Insurance will help Bank of Rajasthan to offer non life insurance products besides boosting the fee-based income of the bank according to bank officials.

This initiative would also help the insurance company in extending its penetration and reach.
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HSBC to set up non-banking financial co
Pune: HSBC is in the process of setting up a non-banking financial company to cater to new market segments.

The bank says it sees a lot of opportunities for NBFCs and has already begun the process to put up one in India.
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