The Hindu Business Line : Thursday, September 05, 2002

Way2Wealth plans foray into insurance broking
WAY2WEALTH Securities, the Bangalore-based multi-locational investment-consulting firm, has chalked out an aggressive growth plan to expand its network and enter new businesses of insurance broking and Internet broking. Announcing this at a ... More

PENSION PLANS

ICICI Pru grabs 25 pc of pension plan market
ICICI Prudential Life Insurance Company has garnered over 25 per cent of retirement solutions market, in terms of the premium contributions to pension plans during April-June 2002. This 25 per cent translates to around Rs 10 crore worth of ... More

FOREX

Re firms up; gilts bullish
Mumbai: THE rupee ended marginally stronger at 48.4550 against the dollar on Wednesday as against Tuesday's close of 48.4650. Dealers ascribed the strengthening of the currency to dollar inflows continuing to prop up the market. The market was ... More

INSURANCE

IRDA urged to allow entry of sub-brokers
THE Mumbai-based Insurance Brokers' Association of India has represented to the Insurance Regulatory and Development Authority (IRDA), asking the regulator to allow sub-brokers to operate. The contemplated ruling on brokers' functioning, does not ... More

HOUSING FINANCE

Indian Bank cuts home loan rates
THIRUVANANTHAPURAM: Indian Bank has reduced the interest rates on fresh home loans by 50 to 75 basis points through various slabs with effect from September 1. A spokesman of the bank for the Kerala region said here that processing and ... More

Mortgage-backed securities — FI investments to attract 50 per cent risk weight
FINANCIAL institutions issuing housing loans to individuals against the mortgage of residential housing properties will now assign a risk weight of 50 per cent as against the prevailing risk weight of 100 per cent. In a circular to the chiefs ... More

LIFE INSURANCE

LIC Madurai first premium income up 137 pc
THE Madurai Division of the Life Insurance Corporation (LIC) has registered an improved performance despite the entry of private players into the insurance sector. According to the Senior Divisional Manager, Mr B. Venugopal, its `first premium ... More

25 is `right age' to plan for retirement
YOUNG and upwardly mobile urban Indians seem to have learnt the right lessons from the timeless tale of the ant and the grasshopper. `Secure your future and start early' is the name of the game. There seems to be a heightened awareness among ... More

PRIVATE BANKS

ING to `rebrand' Vysya Bank
THE Dutch financial services major ING Group, whose proposal to enhance equity holding in Vysya Bank to 49 per cent was cleared by the regulators recently, now plans to take up a `rebranding' and `repositioning' exercise for Vysya Bank by ... More

Karur Vysya chief hails securitisation Ordinance
MR P.T. Kuppuswamy, Chairman of the Karur Vysya Bank Ltd (KVB), has welcomed the recently promulgated securitisation Ordinance. "It will be another weapon in our armoury to collect our outstandings. All schemes brought forth for this purpose ... More

PUBLIC SECTOR BANKS

IOB credit portfolio set to increase by Rs 1,000 cr
INDIAN Overseas Bank's (IOB) credit portfolio is expected to increase by Rs 1,000 crore in the first half of this fiscal. Nearly a fourth of this would come from housing advances. Mr S.C. Gupta, Chairman and Managing Director, IOB, said that ... More

New General Managers of SBH
HYDERABAD: Mr S.V. Pattabhiraman, Deputy General Manager has been elevated as General Manager of SBH. Mr Pattabhiraman joined State Bank of Hyderabad in 1961 and held senior assignments as Deputy General Manager Thiruvananthapuram zone - ... More

SBI Chennai Circle CGM

GOVT BONDS

Bonds auction
MUMBAI: The Government of India has converted ad hoc treasury bills worth Rs 10,000 crore into special Government securities. These are the 6.18 per cent 2005 for Rs 3000 crore, the 7.27 per cent 2013 for Rs 4,000 crore and the 7.38 per ... More

EVENTS

Study financial statements closely, bankers urged
THE Mangalore-based Karnataka Bank organised a seminar on `Balance sheets and integrated risk management' for the benefit of its executives here. The seminar was conducted by Prof. D. Ghosh Roy, BDP consultant, in association with the bank's ... More

PEOPLE

Cater is new IBRD Country Director
MR Michael F. Cater is the World Bank's new Country Director for India, following the retirement of Mr Edwin Lim last month. According to a press release by the Regional Mission Office here, Mr Cater who assumed office on September 2, has ... More

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