MONEY & BANKING
INSIGHT
When banks merge and emerge bigger
MERGER appears to be the buzzword in the Indian banking industry today. There have been a few mergers in the recent past, some out of compulsion and othersout of strategic planning. A consensus seems to be emerging, ...
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KVIC deserved a better deal
FOR Mahatma Gandhi, the Indian village and khadi were the currency of economic development. Today, the Old Man has become irrelevant. Evidence: Effective October 14, the Khadi and Village Industries Commission (KVIC) stands dissolved. In ...
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FOREX
Rupee falls sharply
MUMBAI: The rupee continued to slip for the third session and closed at 44.21/22 against the dollar, off its intra-day low of 44.25. The strengthening of US currency in the overseas markets and exporters buying dollars in the domestic ...
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LIFE INSURANCE
No plans for berth on RIL board now: LIC chief
`Crisis will not impact investments'
EXUDING confidence that the storm hitting the Reliance empire will blow away soon, the largest institutional shareholder in Reliance Industries Ltd - the Life Insurance Corporation - today said that it had no immediate plans to intervene in ...
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ING Vysya Life unveils unit-linked plans
ING Vysya Life Insurance on Thursday announced the launch of two unit-linked insurance plan, which with their flexible features provide maximum benefits to customers, are expected to form 30 per cent of the company's business. Talking to ...
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Insurance cards for SHGs in Mangalore
MANGALORE: The South Canara District Central Cooperative (SCDCC) Bank Ltd, in association with Navodaya Gram Vikas Charitable Trust, will distribute Chaitanya insurance cards to the members of Navodaya self-help groups (SHGs) in Mangalore ...
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PUBLIC SECTOR BANKS
ATM facility at Dharmasthala
MANGALORE: Syndicate Bank opened an extension counter with ATM facility at Sri Kshetra Dharmasthala in Dakshina Kannada district on December 9, according to a bank release here. The Dharmadhikari of Sri Kshetra Dharmasthala, Dr D. ...
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FOREIGN BANKS
RBI directive to foreign banks on priority lending shortfall
THE Reserve Bank of India has said that foreign banks operating in India should place the amount of shortfall in their priority sector-lending obligation with SIDBI for a tenure of three years. The funds placed with SIDBI will have a graded ...
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GOVT BONDS
`On-tap' sale for 4 States closed
MUMBAI: The Reserve Bank of India said on Thursday that the `on-tap' sale in respect of the remaining four State Governments - Bihar, Jammu & Kashmir, Orissa and Uttar Pradesh - has been closed. The sale of 7.32 per cent State ...
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CREDIT MARKET
Service area norms for banks, RRBs relaxed
COMMERCIAL banks and regional rural banks (RRBs) would, henceforth, be free to lend in any rural and semi-urban area and borrowers would have the choice of approaching any branch for their credit requirements. In a bid to give easy access to ...
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CREDIT CARDS & DEBIT CARDS
HDFC Bank launches global debit card
HDFC Bank has launched an international gold debit card for its high networth customers. The international gold debit card offer a host of benefits, including a cash back facility, comprehensive insurance covers and zero surcharge at petrol ...
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INVESTOR PROTECTION
Prudential Bank depositors to get up to Rs 1 lakh
THE Reserve Bank of India has announced that the depositors of the Prudential Bank would be paid for amounts of up to Rs 1 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC). In a press release here on Thursday, the RBI ...
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Deposits up to Rs 1 lakh will be repaid in three months: Prudential Liquidator
ALLAYING the apprehensions of thousands of depositors who thronged the headquarters of Prudential Bank here on Thursday, the Liquidator appointed as per the Reserve Bank of India directives, Mr V. Amarender Rao, assured them that the bank would ...
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PEOPLE
Top-level appointments in PSU insurance cos
THE Appointments Committee of the Cabinet (ACC) has appointed Mr R. N. Bhardwaj as the new Chairman of the Life Insurance Corporation and Mr R.K. Joshi as the Chairman and Managing Director of General Insurance Corporation (GIC). While Mr ...
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Cherian Verghese is Union Bank CMD
MR K. Cherian Verghese has been appointed as the Chairman and Managing Director (CMD) of Union Bank of India. Prior to this appointment, he was the CMD of Corporation Bank, since November 2000. Mr Verghese whose career in banking spans over ...
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Cross Currency Rates
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