The Hindu Business Line : Friday, January 24, 2003

Aviva Life gets into pensions
AVIVA Life Insurance on Thursday announced the launch of two new individual products — PensionPlus, a regular savings personal pension plan, and Secure Life, a term insurance with premium back plan. With PensionPlus, Aviva has forayed into ... More

FOREX

Rupee at year-high; gilts fall
Mumbai: THE rupee touched a new high against the dollar for the second day in a row. The domestic unit finished at a 12-month high of 47.8975/9000 against the dollar on Thursday, higher by two paise over the previous day's close of ... More

INSURANCE

Bank of Rajasthan plans insurance subsidiary
BANK of Rajasthan has more than doubled its net profit to Rs 18.36 crore during the third quarter ended December 31, 2002, as compared to Rs 8.01 crore in the same period of last year. Increase in other incomes and treasury profits boosted the ... More

FINANCIAL PERFORMANCE

SIB improves profitability
THE Thrissur-based South Indian Bank (SIB) has posted a 20.6-per cent growth in net profit for the nine-month period ended December 31, 2002 to touch Rs 54.7 crore, up from Rs 45.35 crore reported during the corresponding period of the previous ... More

LIFE INSURANCE

LIC to take 10 pc stake in IFCI asset rejig co
LIFE Insurance Corporation of India (LIC) would take a 10-per cent stake in Asset Care Enterprise, the asset reconstruction company (ARC) set up by IFCI Ltd. "We will take up equity to the extent of Rs 2 crore. Our board has cleared the ... More

PRIVATE BANKS

IDBI Bank launches fund management product
IDBI Bank has launched a fund management product, which is a technology-enabled solution for managing corporate payables. Addressing a press meet here, Mr Nirmal Khaderia, Head-Cash Management Services and Corporate Liabilities, said the bank ... More

PUBLIC SECTOR BANKS

Corpn Bank essay contest winners
CORPORATION Bank has announced the results of the essay contest that it conducted for students in Karnataka and Kerala. There are five winners each from both the States for the contest in which students had to write an essay on `My Vision of ... More

Canara Bank loan for solar home lighting
The CMD said the experimental scheme will be extended to other parts of the country subsequently and could cover larger number of people than the initial 10,000. More

FOREIGN BANKS

Citibank to focus on SMEs, transportation funding
CITIBANK has bought out portfolios of over Rs 1,000 crore in the last 14 months from non-banking financial companies (NBFCs) in a bid to boost its asset base of transportation funding. Speaking to presspersons here today, Citibank's Group ... More

NON-PERFORMING ASSETS

Good response to Central Bank adalat
COIMBATORE: Central Bank of India received an overwhelming response to the exclusive Lok Adalat conducted here on Tuesday. The bank was able to recover Rs 2.45 lakh in cash and reach a compromise to the tune of Rs13.48 lakh on a single ... More

ALLIANCES & JOINT VENTURES

Bajaj Allianz, KVB to sign pact today
KARUR Vysya Bank would enter into an arrangement with Bajaj Allianz General Insurance Company Ltd on Friday for the sale of general insurance products. The bank, according to its Chairman, Mr P.T. Kuppuswamy, is aiming to increase its income ... More

PEOPLE

4 new directors on Dena Bank board

UBI Executive Director

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