HOUSING FINANCE
GE enters home loans segment
GE Consumer Finance today announced its foray into the home loan and personal loan segment of the retail market. GE's personal loan foray would be under the brand GE Money Personal Loan. The foray into the housing finance segment would be ... More

LIFE INSURANCE
ICICI PruLife expects 120 pc growth in business
ICICI Prudential Life Insurance is expecting a 120 per cent growth in business during the current financial year, according to Ms Shikha Sharma, CEO and MD, ICICI Prudential Life Insurance. The company has already garnered a new business ... More

GENERAL INSURANCE
`Reliance General needs more capital for growth'
Unless the sibling feud is sorted, RGICL capital requirements are unlikely to receive any priority by the parent group, sources added. More

RBI & OTHER CENTRAL BANKS
World Bank proposes more borrowing flexibility for States
AS the 12th Finance Commission is about to submit its report in a month's time, the World Bank has pitched for greater borrowing flexibility vis-à-vis the States and, in the process, has focussed its attention on the precarious fiscal situation ... More

PRIVATE BANKS
Yes Bank plans direct marketing
YES Bank will soon explore more direct channels for communication with its target audience besides adopting mass media advertising as part of its differentiation strategy. Mr Rana Kapoor, Managing Director and CEO of Yes Bank, in a press ... More

Govt rules out JPC probe into GTB collapse
The Finance Minister said that the demand for a JPC would have been justified if the Government had shown inaction in dealing with the emerging situation. More

PUBLIC SECTOR BANKS
Dena Bank fixes price band at Rs 23-27 for second public issue
THE board of Dena Bank Ltd has fixed a price band of Rs 23-27 for its proposed second public issue of equity shares of face value of Rs 10 each. In a notification to the BSE, the bank has said that the bank's board adopted the draft ... More

UBI to set up more branches in Vizag
VISAKHAPATNAM: Union Bank of India will set up two more branches here by the month-end, according to the Assistant General Manager, Mr M.K. Ravi Varma. He was speaking to reporters here on Wednesday after the inauguration of an ATM at ... More

SBH's new GM takes charge
HYDERABAD: Mr R. Murali Krishna has assumed charge as General Manager (Inspection) and Chief Vigilance Officer of State Bank of Hyderabad on Wednesday. Before joining SBH, he was General Manger of Canara Bank at Kolkata, according to a ... More

FINANCIAL INSTITUTIONS
SIDBI to get $120 m from World Bank
TO strengthen the country's small and medium enterprises (SMEs) sector, the World Bank has approved a $120-million (around Rs 540 crore) loan to Small Industries Development Bank of India. The loan, guaranteed by the Government of India, is ... More

GOVT BONDS
Securities buoyant
MUMBAI: Buoyed by good liquidity and buying interest following the cancellation of a Rs 8,000 crore auction scheduled for the first week of December, bond prices staged a smart recovery of nearly Rs 2 across some maturities in the ... More

Sale of Rs 8,000 cr dated papers cancelled
MUMBAI: The Government of India cancelled the Rs 8,000 crore auction of dated securities to be held during December 1-8. The securities scheduled for auction were 10-14 year security for Rs 6,000 crore and 20-years and above security for ... More

NON-PERFORMING ASSETS
IOB conducts Lok Adalat
MADURAI: A sum of Rs 17.37 lakh was settled against a demand of Rs 21.89 lakh at the Lok Adalat conducted by the Indian Overseas Bank in association with the District Legal Aid Authority at Peramablur. An amount of Rs 1.65 lakh in ... More

FIXED DEPOSITS
SBT hikes NRE deposit, FCNR rates
STATE Bank of Travancore (SBT) has raised the interest rates for NRE term deposits as also FCNR deposits in dollars, pound sterling and euro for various periods with effect from December 1. The revised rate for NRE deposits of one year to less ... More

REGULATORY BODIES & RULINGS
Premiums data: IRDA to change reporting format
THE Insurance Regulatory and Development Authority (IRDA) is to soon change the way in which companies' premium is publicly reported to present a more accurate picture of the market. The IRDA journal plans to add details to its presentation of ... More

TRADE & LABOUR UNIONS

CO-OPERATIVES
Bill on multi-State co-op banks introduced
THE Finance Minister, Mr P. Chidambaram, today introduced a Bill in Parliament to allow the Reserve Bank of India to issue licences to existing multi-State co-operative banks. The bill would replace an Ordinance promulgated earlier for the ... More