The Hindu Business Line : Saturday, February 22, 2003

Pension scheme from SBI Life
The scheme open to all between the ages of 18 to 65 can be kept alive with a minimum annual amount contribution of Rs 3,000, said Mr R. Krishnamurthy, MD and CEO, SBI Life. The Chairman of State Bank of India, Mr A.K. Purwar, said banks would ... More

FOREX

Re sheds 2 paise; gilts weak
Mumbai: THE rupee ended on Friday at 47.72/73 against the dollar as compared to Thursday's close of 47.70/71 in the local currency markets. There was good demand by foreign banks for dollar and the supplies of the greenback were not very heavy, ... More

STOCKS

Momentum buying in Oriental Bank
VALUE buying in Oriental Bank of Commerce sent its volumes soaring on the bourses today. Brokers said that the counter attracted sustained market interest on account that it is a "low PE with high dividend play' stock. The stock ended the day at ... More

HOUSING FINANCE

SBI reduces floating rates on home loans
STATE Bank of India today announced a reduction in its floating rates of interest for its housing loans customers after a board meeting. The floating housing loan rates of SBI are linked to and float with the State Bank Medium Term Lending ... More

LIFE INSURANCE

HDFC Standard hopes to treble premium income
HDFC Standard Life Insurance Company Ltd has registered a business worth around Rs 5,000 crore of sum assured so far in the current financial year, according to the company's local branch manager, Mr Sibaranjan Patnaik. He was addressing a ... More

Single premium bond from Birla Sun Life
BIRLA Sun Life Insurance, a joint venture between the Aditya Birla group and Sun Life Financial, has added one more to its basket of unit-linked insurance products. "This new single premium bond is an insurance cum investment product," said Mr ... More

GENERAL INSURANCE

Medicine Shoppe to offer free insurance cover — Ties up with Bajaj Allianz
PHARMACY retail chain Medicine Shoppe will now provide its customers with critical care insurance in association with Bajaj Allianz General Insurance Company Ltd. The scheme is aimed at the 5-25 years age group and will given free in its 40 ... More

IRDA grants broking licence to 6 more cos
THE Insurance Regulatory and Development Authority (IRDA) has granted broking licences, including composite licences, to six more companies. With this, the total number of companies that were granted broking licences has gone up to 17 so far. ... More

DEBT MARKET

RBI move to widen repo market
IN an attempt to widen the repo market, more debt market participants have been allowed to enter into ready forward contracts. This will be operationalised from March 3, said a Reserve Bank of India (RBI) press release, following an ... More

PRIVATE BANKS

IDBI Bank offers new service

NON-PERFORMING ASSETS

BIFR door shut for Mardia Chem
MARDIA Chemicals Ltd (MCL) has become one of the first companies to be relieved by the Board for Industrial and Financial Reconstruction (BIFR) since banks and financial institutions (FIs) have moved against them to recover dues under the ... More

Pay up or face legal action, banks warn defaulters
"We are alerting the big defaulters through all possible means to come forward for a settlement within the stipulated time failing which action would be initiated under the Securitisation Act," a senior banker of once of the PSU banks said. More

TRADE & LABOUR UNIONS

BoB staff strike work
ABOUT 30,000 employees of Bank of Baroda (BoB) struck work on Friday condemning the anti-employee attitude of the management. According to the All India Bank of Baroda Employees' Association, the management had on January 30 issued a circular ... More

ALLIANCES & JOINT VENTURES

STCIL may offer exit option — Ties up with Bank of India to retail gilts
PRIMARY dealer Securities Trading Corporation of India Ltd (STCIL) plans to offer exit options to some of its shareholders to enable them to realise gains through sale of their equity to existing or new investors in the company. The STCIL ... More

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