INSURANCE
Mandatory divestment clause in insurance joint venture may go
A formal proposal on the deletion of mandatory divestment issue would, however, come up only if the Finance Minister is able to weather the political storm. More

SOFTWARE
`Indian IT cos may lose to global firms on Basel II'
THE domestic IT vendors are likely to lose out to global consulting majors (read IBM, Accenture) on the business opportunities accorded by the regulatory compliances such as Basel II and Sorbannes-Oxley Act. International providers with ... More

LIFE INSURANCE
LIC premium through ECS
LIFE Insurance Corporation today announced that it has introduced the facility of paying the premium through the Electronic Clearance Service for its policyholders in Chennai. The facility, which takes effect on July 17, would allow ... More

Katra Liquor offers insurance cover to shop boys
SOCIAL concern has always mixed well with promotional efforts of the spirits companies. Katra Liquor Pvt Ltd, a start-up venture funded by Mr Ramesh Vangal, has given the concern a trade focus that could directly boost the depletions of its new ... More

AP gets Rs 1,200 cr from LIC
HYDERABAD: The State Government has obtained Rs 1,200 crore from LIC of India for `debt swap' for loans taken from the Nabard and others at a higher rate of interest of 7 per cent, the Finance Minister, Mr K. Rosaiah, informed the State ... More

GENERAL INSURANCE
India Insure arranges hydrology cover for Malana Power
`INDIA Insure', an insurance broking firm has arranged `Hydrology Risk' for the Malana Power Company. The insurance cover has been facilitated by ICICI Lombard General Insurance Company and the policy has been placed for coverage of Rs 10 ... More

PUBLIC SECTOR BANKS
Central Bank pays Rs 35 cr-dividend
NEW DELHI: Central Bank of India has paid a dividend of Rs 35 crore to the Union Government for 2003-04. The cheque was presented to the Joint Secretary, Banking, Mr Amitabh Verma, by Mr R.P. Sharma, zonal Manager, Delhi. ... More

FINANCIAL INSTITUTIONS
Exim Bank plans to market consultancy services abroad
THE Export Import Bank of India proposes marketing of Indian consultancy services overseas. This is aimed at providing a better exposure to Indian consultants abroad to help them get the assignments of multilateral agencies-assisted projects. ... More

CORPORATE BONDS
SIDBI issues bonds on pvt placement
SMALL Industries Development Bank of India (SIDBI) has issued its capital gains bonds through the private placement route on July 15. The issue will be available on tap. The bank proposes to mobilise a portion of its resource requirement in ... More

CREDIT MARKET
Rescheduling of farm loans to lift credit offtake
CREDIT offtake of most banks is expected to increase with bankers preparing for large rescheduling of farm loans for the current financial year. The rescheduling of loans would allow farm borrowers an extension in repayment with revised ... More

TRADE & LABOUR UNIONS
SBI staff to strike work on Aug 9
THE All-India State Bank of India Staff Federation (AISBISF) has given a call for observing a 20-day "direct action" campaign beginning July 21 and culminating in a full-day strike on August 9 in protest against what it calls "deteriorating ... More