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MONEY & BANKING
REGULATORY BODIES & RULINGS:
No special dispensation for LIC in new investment norms
IRDA for phased dilution of investments. Hyderabad, Aug. 28 The new investment norms announced by the Insurance Regulatory and Development Authority (IRDA) will apply to all entities in the insurance industry, including Life Insurance ...
GENERAL INSURANCE:
Pvt insurers for alternative to motor pool arrangement
Escrow account to settle claims, defray losses suggested. Chennai, Aug. 28 The year-old ‘motor pool’ arrangement, which was brought in to spread the burden of losses relating to third-party commercial vehicles insurance across all ...
PEOPLE:
Kalpana Morparia quits ICICI Bank to join JP Morgan
Mumbai, Aug. 28 Ms Kalpana Morparia, the high profile banking official who has been with ICICI Bank for 33 years, is now leaving the bank ...
FINANCIAL MARKETS:
States’ finances face strain
Borrowing costs to go up as interest rates harden. With interest rates hardening, States are faced with fiscal deterioration this financial year. Sources said that most of the States had budgeted their borrowings for the current year on the ...
LIFE INSURANCE:
Bajaj Allianz signs up Vijender
Bajaj Allianz Life Insurance Company, on Thursday, announced that it has signed up Olympic medal winner and boxing champion Vijender Singh as its “youth icon”. Speaking at an event organised to announce the brand association, Mr ...
LIFE INSURANCE:
ING Vysya Life to expand referral tie-ups
Hyderabad, Aug 28 ING Vysya Life Insurance is planning to expand its referral tie-ups with the cooperative banks in South India. “We are currently in the process of partnering with 20 cooperative banks in Andhra Pradesh, Karnataka, ...
DERIVATIVES MARKETS:
Currency Futures trade to go live today on NSE
No transaction charges from August 29 to September 30. Mumbai, Aug. 28 More than 300 members will be eligible to participate in currency futures trading on the National Stock Exchange of India on Friday, when the facility gets flagged off by ...
PUBLIC SECTOR BANKS:
Union Bank rolls out wealth management in NCR
Not to levy any service charge on the customers. New Delhi, Aug. 28 Union Bank of India (UBI) has announced the launch of its wealth management services for high networth individuals (HNIs) in the National Capital Region (NCR). ...
PERFORMANCE:
Banks in Singur region faring well
Kolkata, Aug. 28 Banks are doing good business both in terms of deposits and advances in the Singur region, senior bank officials told Business ...
GENERAL INSURANCE:
Oriental, MyTVS launch roadside assistance scheme
Hyderabad, Aug. 28 Oriental Insurance Company Ltd will focus on providing value-added services to its customers and expand its emergency roadside assistance scheme across the country soon. ...
FINANCIAL SERVICES:
Artha Money launches property services
Chennai, Aug. 28 Artha Money, the financial services company, has diversified into property services making it a complete financial super market for the retail customer, according to Mr Suresh Rangarajan, Managing Director and CEO, Artha ...
REGULATORY BODIES & RULINGS:
3 banks get SEBI nod for IPO money
Mumbai, Aug 28 Three banks — Corporation bank, Union Bank of India and HDFC bank — have received SEBI nod for offering the new payment facility for IPOs under SEBI’s new scheme where investor application money will not be ...
DEBT MARKET:
Bond prices up as liquidity eases
ALLIANCES & JOINT VENTURES:
ECGC in pact with LVB
EVENTS:
Dr Rakesh Mohan meets Chidambaram
New Delhi, Aug 28 The Reserve Bank of India (RBI) Deputy Governor, Dr Rakesh Mohan, on Thursday met the Union Finance Minister, Mr P Chidambaram, at the latter’s North Block office on Thursday, raising speculation that Dr Mohan will be ...
FOREX:
Rupee marginally down
CREDIT CARDS & DEBIT CARDS:
Bajaj Allianz to distribute credit cards
Kolkata, Aug. 28 Bajaj Allianz is planning to venture into distribution of credit cards within this year, Mr Jitendra Kr. Bhagat, Chief Executive Officer, Bajaj Allianz Financial Distributors Ltd, said ...
SHORT TERM INSTRUMENTS:
Call rate ends substantially lower
FARM CREDIT:
Year-long crop loan access to farmers
Mumbai, Aug. 28 The Reserve Bank India has introduced a new loan scheme for farmers which ensures access to credit throughout the year. ...
CREDIT MARKET:
Bank finance for mid-size corporates — A case for equity participation
Commercial banks, of late, have been focusing their attention increasingly on medium-sized corporate enterprises (MCEs) as a major avenue for credit deployment. The MCEs are much larger than micro, small and medium enterprises (MSMEs) but well ...
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