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Friday, December 02, 2005
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MONEY & BANKING

FINANCIAL SERVICES


SocGen hopeful of 80 clients in first year
THE Societe Generale Group, one of the largest financial services groups in the Euro zone, on Thursday announced its entry into the Indian onshore wealth management business by launching SG Private Banking (Asia Pacific), targeting high net worth ... More

FOREX


Money changers may get licence for more forex transactions
AN internal group of Reserve Bank of India has recommended the granting of licences to certain entities called Restricted Authorised Dealers (RAD category-II) to undertake more transactions in foreign exchange, which are not trade-related. ... More

LIFE INSURANCE


Insurance companies may be allowed pension biz under existing entity
THE door is still open for Indian life insurance companies to enter the pension sector without the need to float a separate outfit for managing pension funds. The interim Pension Fund Regulatory and Development Authority (PFRDA) is looking at ... More

GENERAL INSURANCE


Hefty flood claims, higher reinsurance rates — Private insurers set to hike tariffs
FACED with large claims, private sector general insurers have all but halted under-bidding to grab business from competitors. Sources said that almost all general insurers have faced large claims from across sectors on account of the floods and ... More

FINANCIAL POLICY


OTC derivative contracts may soon get legal validity
OVER the counter (OTC) derivative transactions linked to interest rates, foreign exchange credit and loan may soon get legal validity. The Standing Committee on Finance that went into the Reserve Bank of India (Amendment) Bill, 2005, has endorsed ... More

PRIVATE BANKS


ICICI Bank public issue gets 55% subscription on first day
ICICI Bank's domestic offering of Rs 5,750 crore was subscribed to the extent of 54.73 per cent at the end of the first day of the issue. Bids were offered at a price of Rs 525, Rs 530 and Rs 545. The bank had a price band of Rs 505-545 a share ... More

PUBLIC SECTOR BANKS


PNB writes off Manjunath's loan
PUNJAB National Bank has written off the entire education loan amount of Rs.1.73 lakh outstanding in the name of S. Manjunath, the Indian Oil Corporation official who was murdered on November 19. The bank has also decided to remit insurance ... More

IOB, Classic Jatropha tie up to promote biofuel
INDIAN Overseas Bank and Classic Jatropha Oil (India) Ltd of Coimbatore entered into an agreement here today to promote jatropha cultivation for biofuel production. Under the agreement IOB will provide crop loans to farmers identified by ... More

Andhra Bank files prospectus with SEBI for public issue
ANDHRA Bank has announced that it has filed the draft red herring prospectus with the Securities and Exchange Board of India for its follow-on public issue of 8.5-crore equity shares of Rs 10 each at a premium to be decided through book build ... More

CREDIT MARKET


Credit lending tops target in Kerala
THIRUVANANTHAPURAM: Priority credit disbursements by banks here during the first six months of the current fiscal have crossed Rs 1,671 crore. This compared well with the annual target of Rs 1775.17 crore, a meeting of the district ... More

REGULATORY BODIES & RULINGS


IRDA sets up institute of surveyors, assessors
FOLLOWING the Bhandari Committee recommendations, the Ministry of Finance has directed the Insurance Regulatory and Development Authority (IRDA) to promote an institute for surveyors and loss assessors on the model of the Institutes of Company ... More

INTERVIEW


`Consumer finance a major growth area'
A RECENT poll by Asia Money has ranked HDFC Bank as the number one bank in India in categories such as customer service, back-office or post trade finance, competitive and prompt spot pricing, forex options provider for non-Asian ... More

EVENTS


Exim Bank asks Indian cos to tap ADB-funded projects
THE Export-Import Bank of India (Exim Bank) has asked the Indian suppliers, contractors and consultants with adequate engineering and technical capabilities to effectively tap the vast business opportunities in Asian Development Bank (ADB)-funded ... More



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Prime Directors

Top Stories
ONGC appoints consultants for due diligence of SPIC Petro


Centre to unveil pharma policy soon

SpiceJet cuts fuel surcharge by 50%

`Consumer finance a major growth area'

Brand Ganguly caught in the gully!

Hefty flood claims, higher reinsurance rates — Private insurers set to hike tariffs

Metal producers hike prices for all products

In Focus

FDI in retail sector
Indian Aviation: Sky is the limit
India Inc's bonus bonanza
Sethusamudram Canal Project
India Inc's overseas acquisition
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Nov. 20-Nov. 26
Two cos offer insurance cover for wheat crop

Insurers lend support to bond markets

e- funds transfer system goes live

Now, most banks focus on SMEs

CVC unlikely to loosen grip on top public sector bank officials

IRDA favours FDI at 49 pc

RBI cautions banks on higher market risk


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