MONEY & BANKING
PREFERENTIAL ALLOTMENTS
Shriram Transport Fin pref allotment
SHRIRAM Transport Finance Company on Thursday informed the BSE that its board of directors has approved the issue of up to 25,00,000 equity shares of Rs 10 each to UTI Bank on preferential basis. Also cleared was the issue of up to 39,00,000 ...
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PENSION PLANS
Pension fund regulator begins functioning
THE interim Pension Fund Regulatory and Development Authority (PFRDA) has started functioning from Thursday, and held its first meeting under the chairmanship of Mr Vinod Rai. Other members of the Authority, Mr U.K. Sinha and Mr M. Prasad, ...
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INSIGHT
Why interest rates should go up
If, as policymakers claim, India is moving towards a market driven interest regime, then rates should be determined by demand and supply. Lower interest rates cannot be achieved through administrative diktats but by increasing the availability of cap ital in relation to demand, says A. V. Vedpuriswar.
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FOREX
Rupee subdued; securities fall
MUMBAI: The rupee saw little activity on Thrusday with the New York market closed on New Year's Day. The rupee closed at 45.59/60 after moving in a three paise band during the day. On Wednesday the currency had closed at similar levels ...
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AGRICULTURAL INSTITUTIONS
Nabard sets up consultancy arm
THE Nabard has established a fully owned subsidiary for its consultancy services, Nabcons. The new company to be headquartered in Mumbai will have an authorised capital of Rs 25 crore and a paid-up capital of Rs 5 crore. A formal memorandum of ...
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HOUSING FINANCE
Indian Bank okays housing loans worth Rs 3.75 cr at Madurai fair
THE Assistant General Manager and Circle Head, Indian Bank, Mr T.S. Baskaran, has said that the bank has sanctioned home loans to the tune of Rs 3.75 crore to 82 customers at the stall put up by the bank at the ongoing Chamber Trade Fair ...
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Vijaya Bank home loans have free NIC cover
VIJAYA Bank has tied up with National Insurance Company Ltd to offer a free insurance policy to those availing themselves of housing loans from the bank. Vijaya Home Loan Suraksha Bima covers borrowers against destruction of the property under ...
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NON-PERFORMING ASSETS
UBI plans to trim NPAs by Rs 200 cr
A special recovery campaign is currently in place. The bank has managed to address some of its hardest NPA-related issues.
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TRADE & LABOUR UNIONS
Bank officers' union opposes 5-day week
AT the recent executive meeting of the All India Bank Officers Confederation, the issue centred on introduction of five-day week in bank. The Indian Bank Association's move to introduce the five-day week in banks came under fire. Bankers ...
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PEOPLE
Dena Bank CMD retires
Nominated to SBI Bangalore Local Board
New GM for SBH
NEW PRODUCTS & SERVICES
Unit-linked plan, pension product from HDFC Standard
HDFC Standard Life, launched its unit linked insurance and pension plans today. The premium for both the products will be invested in units of the investment fund, as per the investors' choice. The minimum premium amount is Rs 10,000 each year ...
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Cross Currency Rates
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