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Tuesday, August 23, 2005
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MONEY & BANKING

FOREX


Rupee sheds 4 paise; securities weak
MUMBAI: The rupee fell against the dollar, as there was oil-related buying. The domestic currency opened at 43.57/58 and touched a low of 43.64 before ending trade at 43.62/63, against the previous close of 43.5850/59. "There was both ... More

LIFE INSURANCE


Birla Sun Life launches single premium plan
BIRLA Sun Life Insurance has launched a single premium plan called "Prime Life". The entry age for the plan is a minimum of 30 days and a maximum of 65 years. While the minimum premium is Rs 20,000, the face amount of the policy is 150 per ... More

GENERAL INSURANCE


Cap likely on third party liabilities of insurers
Any compensation award to accident victims beyond the ceiling would have to be borne by the vehicle owners or fleet operators. More

Pilot project for online motor claims processing under way
THIS might bring a smile to car owners who have waited endlessly for their motor claims to be settled. A few general insurers and car dealers are in pilot projects to assess online processing of motor claims. This means that once a vehicle's ... More

PRIVATE BANKS


South Indian Bank garners Rs 65 cr from Tier II bonds
THE Thrissur-based South Indian Bank has mopped up Rs 65 crore by way of Tier II bonds which will not only go in augmenting the capital base of the bank, but would also facilitate business expansion. The issue, which opened on August 22, got ... More

South Indian Bank plans to open arms in W. Asia
SOUTH Indian Bank has relocated its Saibaba Colony branch in the city to a more spacious building. Presiding over a function, Mr V. A. Joseph, Chairman and CEO of South Indian Bank, said that the bank has decided to strengthen its focus on ... More

PUBLIC SECTOR BANKS


Indian Bank raises $100 million through syndicated loan
INDIAN Bank has completed a $100 million (about Rs 435 crore) syndicated term loan facility through its Foreign Currency Banking Unit, Colombo. The loan has been arranged at an interest spread of 22 basis points over Libor, according to a bank ... More

Corporation Bank signs pact with IL&FS Investsmart
CORPORATION Bank has entered into an agreement with IL&FS Investsmart, a financial services company, for offering capital market services to the bank's customers. ILFS Investsmart will offer portfolio management services and broking services ... More

INTEREST RATES


PHD Chamber urges RBI to lower rates on export finance
IN a representation to Reserve Bank of India, the PHD Chamber of Commerce and Industry has brought to the apex bank's notice that it was imperative for the interest rate of export finance, both pre and post, to be further reduced by at least 100 ... More

TRENDS


Banks rejig rates to cash in on festival season
IN order to take advantage of the festival season, which is typically accompanied by an increase in spending, several banks are either offering lower interest rates on retail loans or raising deposit rates. Many banks are also conducting deposit ... More



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