MONEY & BANKING
PENSION PLANS
Tata Life launches `Nirvana Plus'
MUMBAI: TATA AIG Life Insurance Company has launched `Nirvana Plus', which it claims is India's only pension plan for individuals with a 10 per cent guaranteed addition to the sum assured every five years. A press release from the ...
More
OUTSOURCING
Sun Life mulls sending some work to India
SUN Life Financial, Canada's largest insurance firm, is weighing its options regarding outsourcing some services to India. While no decision has been taken yet, the company is discussing the issue at the highest level, Mr Paul Derksen, Executive ...
More
FOREX
Rupee sharply down; yields rise
MUMBAI: Higher oil prices, which stepped up dollar purchases by oil companies, drove the rupee down as it closed at 46.1050/1150 against the dollar, the level not seen for nearly a month, traders said. On Monday the Indian currency had ...
More
Forex-funding of growth projects doesn't really help
INDIA'S forex reserves hit a peak of $120 billion and have stayed more or less flat since - probably because of rising US interest rates, dollar-rupee forward premium and crude prices adding to the import bill. Of course, our kitty is just ...
More
SOFTWARE
Finacle achieves new benchmark
INFOSYS Technologies Ltd said on Tuesday that its universal core banking solution, Finacle, has achieved the highest scalability that is transactions throughput per second (TPS) of 11,180 in online mode and 19,568 TPS for batch mode. With ...
More
PRIVATE BANKS
ICICI Bank nominees fail to get on Fed Bank board
THE curtains came down on the Federal Bank AGM on Tuesday, when Mr P.C. Cyriac, Mr K.P. Fabian and Mr C.J. George were declared elected to the board at the end of a long session of voting and counting which extended till 3 a.m. in the morning. ...
More
CLB stays all AGM resolutions
EVENTS at the Aluva-based Federal Bank took a new turn on Tuesday with ICICI Bank, which holds about 20 per cent stake in it, obtaining a stay order from the Company Law Board (CLB) against all the resolutions that were put to vote at the AGM on ...
More
ICICI Bank set for CBLO foray
The bank is awaiting approval from its board of directors with procedural formalities nearly over, said a treasury official of the bank. The board approval is expected this week, he said. ICICI Bank will be the sixth private sector bank to ...
More
Kerala CM supports Federal Bank
RECOGNISING the role that Federal Bank has played in the economic development of Kerala, the Chief Minister, Mr Oommen Chandy, has come out in support of the bank. In a letter to the Union Finance Minister, Mr P. Chidambaram, the Chief Minister ...
More
FINANCIAL INSTITUTIONS
IDBI places Rs 100 crore with MFs
INDUSTRIAL Development Bank of India (IDBI) on Tuesday privately placed floating rate bonds worth Rs 100 crore with a few mutual funds. ICICI Securities arranged the transaction, an IDBI release said here. The bonds have a maturity of three ...
More
INTEREST RATES
Rate slab fixed for SGSY loans
THE Government has asked the Reserve Bank of India and Nabard to ensure that the loans extended to self-help groups under Swarnjayanti Gram Swarozgar Yojana (SGSY) is made available within a slab of 4 to 6 per cent interest. "We are facing ...
More
NON-PERFORMING ASSETS
GTB defaulters keen to settle dues
THE merry-making by chronic defaulters of the erstwhile Global Trust Bank (GTB) is well and truly over. After the revelry was brought to an abrupt halt recently, it's now time to queue up at the cash counter manned by Oriental Bank of Commerce ...
More
CREDIT MARKET
Personal loans getting cheaper?
Rates on totally unsecured medium-term loans are falling at precisely the time when those on fully secured home loans have moved up.
More
SECURITISATION
Centurion securitises two-wheeler loans
MUMBAI: Centurion Bank on Tuesday announced securitisation of its second pool of retail two-wheeler loans. The aggregate amount for the pool of assets is Rs 78.40 crore. Earlier, the bank had completed a transaction of the same nature, ...
More
TRADE & LABOUR UNIONS
Nabard staff to intensify stir
Cross Currency Rates
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds