IDBI likely to raise Rs3,000-cr through bonds
New Delhi: The Industrial Development Bank of India is likely to raise Rs3,000 crore from the market through a bond issue in the current fiscal. According to market sources, the bank has appointed SBI Capital Markets as the lead manager of the issue.

The issue, which will be through a fixed price method, has received approval from the market regulator Sebi.
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BoI to extend Rs200-cr in loans for Kakinada SEZ
Visakhapatnam: The Bank of India will lend a total of Rs200 crore to the SEZ coming up at Kakinada. The bank had already lent Rs100 crore to the SEZ for land acquisition and would pump in at least Rs100 crore more.

The bank, currently celebrating its centenary, would also adopt 101 villages during the year.

The bank, predominantly a north-based one, would like to increase its presence in the southern part of the country and plans to set up 20-25 branches in the current year.
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ICICI Lombard to increase business in Kerala by Rs100-cr
Kochi: ICICI Lombard General Insurance Company is aiming at an additional Rs100 crore worth of business in Kerala this year by concentrating on the retail insurance business.

ICICI Lombard was focusing on the motor and travel insurance business in the State and had already collected a premium of Rs30 crore as of March 31.

The company has joined hands with several state and central public sector undertakings as well as leading companies in the corporate sector including Dubai Ports, Cochin International Airport Ltd, Apollo Tyres and others for insurance cover for employees.

Apart from this, ICICI Lombard had tied up with various state governments in 13 states for group personal accident cover of 126 million lives and health cover to 3.3 million weavers in six states in health insurance.

It had also introduced a weather insurance cover for 1,15,000 farmers in 1,32,000 acres of land doing farming in wheat, paddy, orange, cotton, grapes, soyabean etc.

The company is the largest private sector general insurance company in India with a gross written premium of Rs15,920 million in 2005-06 and a growth of 80 per cent as compared to the corresponding period of the last year. In the year 2005-06, the company issued over 14,61,000 policies across the country and settled 2,43,951 claims. It has a claim disposal ratio of 95 per cent as on March 31.
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