PENSION PLANS
Pension reforms draft moots three types of funds
EQUITY exposure of pension funds would initially only be allowed in index funds, according to the draft proposal for pension fund regulation. The Pension Fund Regulatory and Development Authority's (PFRDA) guidelines, which will mandate this, ... More

GENERAL INSURANCE
Motor cover premiums set to drop
MOTOR vehicle owners, battered by rising fuel prices, can now look to some relief. Motor insurance premiums are poised for a sharp fall beginning April next year, when de-tariffing comes into effect. Sources said the detariffing of motor ... More

CREDIT RATING
Crisil upgrades bonds rating of four PSBs
THE rating agency Crisil has upgraded the bond ratings of four public sector banks - Bank of Baroda, Canara Bank, Indian Overseas Bank and Syndicate Bank. The upgrade reflects a reassessment of the Government support available to public ... More

PRIVATE BANKS
IndusInd Bank branch in Visakhapatnam
VISAKHAPATNAM: The RBI has given permission to the IndusInd Bank to convert its extension counter at the CDR Hospital here into a full-fledged branch, according to a press release issued by the bank. In the release issued here on Monday, ... More

GOVT BONDS
RBI floating rate bonds sale on Sept 9
THE Reserve Bank of India has announced the auction by sale of three dated securities for an aggregate amount of Rs 10,000 crore, on September 9. "Floating Rate Bonds, 2013" will be auctioned for an aggregate amount of Rs 4,000 crore using ... More

Bonds pare losses; rupee tad weaker
MUMBAI: Bond prices lost around 50 paise across maturities on auction expectations in the government securities market on Monday. The 7.37 per cent 2014 paper opened at Rs 110.80 and fell to Rs 110.65 (5.90 per cent YTM). The 7.40 per ... More

NON-PERFORMING ASSETS
SEBI amends takeover code to smoothen debt recovery
THE Securities and Exchange Board of India (SEBI) has now stepped in to help banks and financial institutions in their efforts to tackle non-performing assets (NPAs). In what would substantially smoothen the process of recovery of bad debts, ... More

TRADE & LABOUR UNIONS
AIBOC Dakshina Kannada
MANGALORE: Mr M.K. Krishna of SBI Service Branch, Mangalore, was installed as the President of the Dakshina Kannada District Committee of the All-India Bank Officers' Confederation (AIBOC) here recently. An AIBOC release said here on ... More

INTERVIEW
SIDBI plans Rs 250-crore micro-financing
THE Small Industries Development Bank of India (SIDBI) has been at the centre-stage of building a vibrant small and medium sector in the country. The Chairman and Managing Director, Mr V.K. Chopra spoke to Business Line on the ... More