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Thursday, September 04, 2003
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New pension scheme only after 5 months
THE formal launch of the proposed new defined contribution pension system is likely to take place during the last quarter of the current fiscal. "Keeping the need to do the preliminary groundwork it could take anywhere between 4-5 months to ... More


Rupee weakens; gilts sale fully subscribed
MUMBAI: The rupee lost another 4 paise on Wednesday to end the day at 45.9150/9250 against the dollar compared with Tuesday's close of 45.8750/8650. Said a forex dealer in a private bank, "With premia touching near three-year lows ... More


Birla Sun Life plan for children
BIRLA Sun Life Insurance has launched the `My Child' plan for children, with a focus on flexibility and customisation. The plan is aimed at children between the age of 1 and 17 years. The premium-paying period can be pre-decided by the parents. ... More


IRDA forms expert panel to review remuneration model
RESPONDING to the concerns being expressed by various sections of the insurance market on the withdrawal of five per cent discount to the intermediaries, the Insurance Regulatory and Development Authority (IRDA) has decided to constitute an ... More


ICICI Bank opens Singapore branch
As part of its international presence, the private sector bank earlier had only two representative offices in New York and London and an offshore banking unit in Mumbai. Mr R. Suvek Nambiar has been appointed as the head of the Singapore ... More


UBI to set up offices in Dubai, Doha
THE Reserve Bank of India has granted permission to the Union Bank of India for opening representative offices in Dubai (UAE) and Doha (Qatar). Union Bank has a vast network of correspondents in the Gulf and also tie-ups with leading exchange ... More

  • Canara Bank slashes rates for SSI loans


    Kerala relaxes settlement scheme for co-ops
    THE State Government has formally notified further relaxation of the one-time settlement scheme being implemented in primary credit co-operative societies. Announcing this here, a spokesman of the office of the Registrar, Co-operatives, ... More

    South Indian Bank recovery
    COIMBATORE: The Coimbatore region of the South Indian Bank has recovered over Rs 4 crore in the first four months of the current fiscal. With the bank taking possession of some of the assets of the wilful defaulters, a good number of ... More


    Card games companies play
    Credit card issuers are trying to offer better value propositions to their customers to get them to swipe more. More


    Vijaya Bank increases FCNR(B) rates
    VIJAYA Bank, a leading nationalised bank, has announced an increase of its interest rates on FCNR (B) deposits in all the three currencies it accepts. The new rates came into force from September 1. The Bank said for the US Dollar deposit, the ... More


    Grading customers to grow
    IF you happen to be a customer of HDFC Bank with a large account balance, far surpassing the quarterly minimum balance and don't bother the bank with high number of transactions or cheque dishonours, there is cause to celebrate. For, you might ... More


    Foreign banks score better in risk management: Survey
    MOST Indian banks have internal rating models for large corporates but not for all types of borrowing entities, according to an IBA-Crisil survey on integrated risk management (IRM) in Indian banks. Speaking at a seminar on `Risk management in ... More


    Y.V. Reddy to take over at RBI on Sept 6
    Dr Y Venugopal Reddy will take over as Governor of Reserve Bank of India on September 6. On the same day, Dr. Bimal Jalan, who has been nominated to the Rajya Sabha will demit the office, a spokesperson for the RBI said. Dr Reddy, earlier with ... More

  • Srikantan to head State Bank of Bikaner
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