The Hindu Business Line : Thursday, September 25, 2003

Latent gains for life insurers from proposed pension plan
A HIDDEN bonanza awaits life insurers from the proposed pension reforms even if they are made ineligible to be licensed as pension fund managers (PFMs). The absence of any provision on family pension in the proposed scheme in the event of ... More

FOREX

Rupee closes marginally lower
MUMBAI: The rupee closed at 45.7950/8050, one paise lower on Wednesday, down from Tuesday's close of 45.7850/7950 in the local currency markets. Despite the demand for the greenback from the oil and power sector companies, there were ... More

INSURANCE

RBI eases norms for bancassurance
THE Reserve Bank of India has said that banks need not obtain prior approval for engaging in insurance agency business or referral arrangement without any risk participation, as long as they comply with IRDA regulations in this regard. In a ... More

NBFCS

Magma targets Rs 750-cr annual business
MAGMA Leasing Ltd, with a presence in some 13 States, is on course to achieve the projected annual business plan of Rs 750 crore for the current financial year. Talking to Business Line here on Wednesday, after the company's 23rd ... More

HOUSING FINANCE

Sundaram Home Finance to expand operations in AP
SUNDARAM Home Finance Ltd (SHFL) is expanding its operations in Andhra Pradesh by opening branches at Visakhapatnam and Vijayawada and organising outreach programmes at Rajahmundry, Kakinada and Guntur. Mr Nitin Palany, Managing Director, said ... More

LIFE INSURANCE

HDFC Standard life insurance biz looking up
HDFC Standard Life Insurance Company Ltd has crossed a sum assured of Rs 45 crore in Kerala since it began operations in the State. Speaking about this achievement on Wednesday, Mr Dilip Gazarao, Head of Retail Sales, said: "Our success here is ... More

PUBLIC SECTOR BANKS

Central Bank aiming at Rs 1 lakh cr within 4 yrs
CENTRAL Bank of India is gearing up to achieve the business target of Rs 1,00,000 crore within the next four years. The bank's business stands at Rs 72,000 crore at present, the Chairman and Managing Director, Dr Dalbir Singh, told Business ... More

INTEREST RATES

`Fall in interest rates could hit savings'
"It is important to find out whether continued decrease in interest rates actually affects the propensity to save," says Mr Madhukar. More

CREDIT MARKET

Vijaya Bank chief against sub-PLR lending
THE Chairman and Managing Director of Vijaya Bank, Mr M.S. Kapur, has said that he is against lending below Prime Lending Rates. He told Business Line here on Tuesday that the relevance of lending would get vitiated by lending below ... More

IPOS

PFC unwilling to float IPO, but Govt keen
THE Power Ministry is keen on Power Finance Corporation (PFC) floating an IPO even as the latter has said that prudent financial norms would advise against it. Senior corporation officials said that in a recent meeting, they were told that they ... More

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