MONEY & BANKING
INSIGHT
Voting rights: What's best for banks?
VOTING rights became a contentious issue at the recent annual general meeting of Federal Bank. ICICI Bank holds 20.45 per cent stake in Federal Bank and the presiding officer at the AGM allowed voting rights for only 26 lakh shares (11.76 per ...
More
FOREX
Rupee up 10 paise; securities plunge
MUMBAI: The rupee closed 10 paise higher on Friday at 45.90/92. On Thursday, it closed at 46.00/02 against the dollar. "The forex market witnessed ample dollar supply from exporters, in addition to certain amount of FII inflows which ...
More
INSURANCE
Insurance body to oppose hike in FDI
THE 27th General Conference of the Northern Zone Insurance Employees' Association (NZIEA) which concluded here on Friday resolved to oppose the hike in FDI from 26 per cent to 49 per cent in the insurance sector and also the imposition of ...
More
Pvt insurers shy away from State-guaranteed bonds
Insurers' reluctance to invest in such securities stems from fears of depreciation in market value.
More
`Make insurance via brokers mandatory'
THE Chairman of Andhra Pradesh Tourism Development Corporation Ltd (APTDC), Mr C. Anjaneya Reddy, has suggested that the insurance regulator make mandatory the services of insurance brokers to the public. Speaking on the occasion of ...
More
MANPOWER
IDBI to offer VRS
The scheme will broadly be along the lines of those offered by public sector banks, IDBI is working out some medical benefits scheme that can be offered along with the VRS.
More
LIFE INSURANCE
Tata AIG bullish on rural markets
TATA AIG Life Insurance Company, the joint venture between the Tatas and the US-based insurance major American International Group Inc, is upbeat on opportunities in the rural markets of India based on the premise that over 70 per cent of people ...
More
GENERAL INSURANCE
Healthcare body seeks lower capital adequacy for medical insurers
DOMESTIC healthcare industry wants the Government to reduce the stipulated capital requirement for health insurers from the current level of Rs 100 crore to Rs 30 crore. Ms Suneeta Reddy, Vice-President of Indian Health Care Federation (IHCF) ...
More
RBI & OTHER CENTRAL BANKS
Corporates allowed to convert ECBs into equity
CORPORATES, whose activities are covered under the automatic route for FDI, would now be allowed to convert their external commercial borrowings (ECBs) into equity. Further, the foreign equity after the conversion of debt into equity should be ...
More
PRIVATE BANKS
IDBI eyes second largest bank slot in short-term: Damodaran
IDBI Ltd in its new avatar beginning today, is expected to become the second largest commercial bank in the country in the short-term, and inch closer to the Number one in the medium-term, according to Mr M. Damodaran, Chairman, IDBI. The ...
More
Federal Bank issue: `Biased views'
WITH reference to the news item titled `Proxy war in bank turf' that appeared in these columns on September 30, Mr V.K. Prasad, Deputy General Secretary, Federal Bank Officers' Association, writes: The news item appears to be very partial and ...
More
Federal Bank chief files appeal against CLB stay
THE Federal Bank Chairman, Mr K.P. Padmakumar, today filed an appeal before the Kerala High Court against the order of the Additional Principal Bench of the Company Law Board, Chennai, staying the implementation of all the resolutions passed in ...
More
PUBLIC SECTOR BANKS
BoI to launch card for tenant farmers
MUMBAI: Bank of India is launching a Star Bhumiheen Kisan card, a scheme that will benefit tenant farmers and sharecroppers who were out of the purview of kisan credit card, according to a press release from the bank. The scheme will be ...
More
FOREIGN BANKS
ABN-Amro finds pvt banking good business
WITH Rs 1,200-odd crore `assets under advice', ABN-Amro Bank finds the going in the two-year-old private banking business pretty good. For, in this business, the margins vary between 1 per cent and 1.5 per cent of the assets, which translates ...
More
CO-OPERATIVES
Ordinance issued: Banking licence for Multi-State co-ops
THE Government has promulgated an Ordinance to amend the Banking Regulation Act, 1949 to enable RBI to issue licences to Multi-State Cooperative Societies to carry on banking business. The Ordinance would also extend the deposit insurance cover ...
More
BOOKS
Market discipline can get stuck in Mint Street controls
A FAMILIAR scene in kindergarten classes is a general restlessness of children indulging in all sorts of noisy pranks till the teacher arrives to start, not with words, but with a few thundering thrashes on the table to ...
More
Cross Currency Rates
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds