MONEY & BANKING
GENERAL INSURANCE
Aviva sale may open up Japan market for Wipro
WIPRO Ltd is likely to pursue a new opportunity to grow its technology arm's insurance practice in Japan following its client Aviva's decision to sell off its Asian general insurance business to Mitsui Sumitomo. Wipro Technologies that counts ...
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Public sector insurers against splitting motor cover risks
PUBLIC sector insurers have opposed moves for the separation of motor insurance products into property and liability risk covers. Sources said the four public sector insurers - New India Assurance Company Ltd, National Insurance Company ...
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Cholamandalam MS targets SMEs to drive volumes
WITH small and mid-cap enterprises accounting for 40 per cent of the country's GDP, 35 per cent of exports and employing 20 million people, Cholamandalam MS General Insurance Company Ltd has stepped into the SME segment to increase its volume of ...
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RBI & OTHER CENTRAL BANKS
Banks asked to review computation of liabilities
THE Reserve Bank of India has asked all banks to immediately undertake a special scrutiny of the computation of their demand and time liabilities (DTL) to ensure that these are worked out strictly in tune with the extant instructions on the ...
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GOVT BONDS
Bond prices surge; rupee firming up
MUMBAI: Bond prices jumped by about Rs 2 in some long-tenor papers in Government securities market on Friday. The 8.35 per cent 2022 Government stock surged by over Rs 2 to close at Rs 114.10 as against the auction cut-off at Rs 112.05 ...
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MERGERS & ACQUISITIONS
`Corporatisation key to merger of public sector banks'
THE Indian Banks Association is of the view that `corporatisation' of public sector banks may be the key to facilitating the merger between PSU banks in the future. Since public sector banks are governed by the `Bank Nationalisation Act' and ...
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Bank mergers a pipedream
THE Union Finance Minister, Mr P. Chidambaram, wants the boards of public sector banks to push for mergers when these banks (hence the boards) are owned by the Government, with the minimum stake being 51 per cent in public sector banks and with ...
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INTERVIEW
`New norms on bank ownership will help mergers, consolidation'
Following are the observations made by Ms Usha Thorat, Executive Director, Reserve Bank of India, on the proposed guidelines regarding the ownership and governance in private sector banks. What are the objectives of the proposed policy? ...
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PUBLIC OFFER
Dena Bank plans second public issue in Q3
DENA Bank plans to tap the capital market with its second public offer in the third quarter of this fiscal, Dr Anil K. Khandelwal, Chairman and Managing Director, Dena Bank, has said. The bank will issue eight crore fresh equity shares with a ...
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STANDARDS & BENCHMARKS
RBI in quality drive; to go for ISO 9000
Besides improving its counter-related services and currency management, the regulator for the banking sector also wants to streamline its process of regulation and supervision. The RBI Deputy Governor, Ms K.J. Udeshi, on Friday said to begin ...
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INVESTOR PROTECTION
Bank deposit insurance scheme to be reviewed
THE RBI plans to review the `deposit insurance scheme' and issues relating to its coverage and premium shortly. Ms K.J. Udeshi, Deputy Governor, RBI, said, that there will be an overall review of the deposit insurance scheme as revision in the ...
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Cross Currency Rates
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