Financial Daily from THE HINDU group of publications
Tuesday, Jan 04, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 04, 2005 |
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Money & Banking
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Private Banks Centurion Bank shareholders okay changes to clause Our Bureau
Chennai , Jan. 3 CENTURION Bank has received shareholders' approval for altering the "objects" clause in its Memorandum of Association. The alteration involved the inclusion of "bancassurance" among the businesses being done by the bank. The Insurance Regulatory and Development Authority has asked banks to incorporate this in their "objects" clause, if they are engaged in the business of insurance, either as principal or as corporate agent. The shareholders' approval was received by postal ballot. Shareholders also granted approval to the grant of stock options to employees.
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