The Hindu Business Line : Saturday, August 06, 2005

Minimum capital for pension fund managers may be fixed at Rs 25 cr
THE interim Pension Fund Regulatory and Development Authority (PFRDA) is considering setting the minimum paid-up capital requirement for pension fund managers (PFM) in the proposed New Pension System (NPS) at about Rs 25 crore. This would be a ... More

INSIGHT

Will RBI ploy effectively curb RNBCs?
The RBI is slowly but surely ring fencing RNBCs to assure depositors of their principal, if not interest. More

FOREX

Rupee firms up; securities weak
MUMBAI: The rupee gained marginally against the dollar on Friday on the back of Foreign Institutional Investor inflows. The domestic currency opened at 43.51/52 and touched 43.52/53. It closed at 43.48/49, up from Thursday's ... More

SOFTWARE

Canara Bank engages i-flex, IBM
CANARA Bank has picked up i-flex Solutions' Flexcube for its core banking solution. IBM will be implementing Flexcube for Canara Bank. Speaking to reporters here on Friday after signing the CBS deal, Mr M.B.N. Rao, Chairman and Managing ... More

LIFE INSURANCE

Tata AIG Life hikes capital by Rs 60 cr
TATA AIG Life Insurance Company has announced a hike in its share capital by an additional Rs 60 crore, taking the total capital base to Rs 381 crore. According to a press release, Mr Farrokh Kavarana, Chairman, Tata AIG Life, said, "This ... More

GENERAL INSURANCE

IRDA relaxes norms for flood loss survey
AS a special case in view of the recent floods in Maharashtra and Gujarat, the Insurance Regulatory and Development Authority (IRDA) has decided to temporarily raise the limit of losses required to be surveyed by a licensed surveyor and loss ... More

Mumbai floods: Insurers getting carried away?
THERE seems to be some degree of exaggeration in reports that claims on motor vehicles following the Mumbai flooding are likely to be so large as to require the infusion of fresh capital by the private non-life insurer Bajaj Allianz. The facts ... More

DEBT MARKET

Need to deepen debt market stressed
THE chiefs of banks, stock exchanges, depositories, and credit rating agencies have stressed the need to deepen the debt market, especially the corporate debt segment, to effectively address the problems of the financial institutions and markets ... More

PRIVATE BANKS

UTI Bank, Visa launch mobile recharge facility
MUMBAI: UTI Bank, along with Visa International, has launched a mobile recharge service by which all pre-paid mobile customers, who have a Visa card can recharge and top-up their talk-time at any of the Bank's ATMs and on Web site. ... More

PUBLIC SECTOR BANKS

BoI ties up with Nabard arm to fund projects
BANK of India has tied up with Nabard Consultancy Services (Nabcons), a subsidiary of Nabard, for financing agricultural projects. This will include appraisal of agricultural related projects, micro-finance activities and capacity building. The ... More

SBI's community service to focus on healthcare, education
STATE Bank of India will focus on healthcare and education under its community service spending, according to Mr P. Chaudhuri, Chief General Manager, Local Head Office, SBI, Chennai. SBI which sets aside 2 per cent of its profits to be spent on ... More

GOVT BONDS

RBI to raise Rs 8,000 cr
THE Reserve Bank of India proposes to raise Rs 8,000 crore through the auction of two government securities on August 11. Of this, Rs 5,000 crore will be raised through the sale of 8.07 per cent 2017 12-year paper, while Rs 3,000 crore will be ... More

CREDIT MARKET

SBI opens small enterprises credit cell at Coimbatore
STATE Bank of India has put into operation its small enterprises credit cell (SECC) for Coimbatore on Friday. The SECC being ushered in by the bank as part of its business process re-engineering is intended to cut down the turn-around-time ... More

TRADE & LABOUR UNIONS

SBI staff union protest
THIRUVANANTHAPURAM: Activists of the State Bank Staff Union (SBSU), Kerala Circle held demonstrations before the local head office on Friday in protest against moves to stop recruitments under the dying-in-harness scheme. This unilateral ... More

CO-OPERATIVES

RBI favours mergers to strengthen urban co-op banks
THE Reserve Bank of India Governor, Dr Y.V. Reddy, has allayed the apprehensions over the financial health of thousands of urban cooperative banks (UCBs) spread across the country and also fears over failure of the cooperative movement. Viewing ... More

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