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MONEY & BANKING
PRIVATE BANKS:
GTB case: Audit firm takes ICAI to court
New Delhi, April 1 Audit firm Price Waterhouse has taken the audit profession regulator, the Institute of Chartered Accountants of India (ICAI), to court. A writ petition has been filed by Price Waterhouse in the Bombay High Court challenging ...
GENERAL INSURANCE:
Govt staff can get higher medical reimbursement
Through CGHS, health insurance policies. Hyderabad, April 1 Employees availing themselves of the benefits of the Central Government Health Scheme (CGHS) are also eligible for claiming reimbursements from their health ...
CREDIT MARKET:
Banks see no slowdown in overseas education loan portfolio
A slight drop in number of applicants likely. Kolkata, April 1 The increased cost of overseas education because of the appreciating dollar and the uncertainty prevailing in the job market abroad may not have a significant impact on the overseas ...
CREDIT MARKET:
JICA sanctions Rs 4,062-cr soft loan for Delhi Metro phase II
Money to be used for development of Phase-II of the Metro corridor. New Delhi, April 1 The Delhi Metro Rail Corporation (DMRC) has been sanctioned a loan of Rs 4,061.81 crore from Japan International Cooperation Agency (JICA) for the development ...
CREDIT CARDS & DEBIT CARDS:
ElectraCard to process LIC cards
Corporation Bank has identified a third party processor of credit cards, ElectraCard Services, for processing LIC Credit Cards. “The bank will issue white label credit cards on behalf of LIC Cards Services Ltd and the cards will be ...
NBFCS:
Liquidity support for NBFCs
The Industrial Development Bank of India Stressed Asset Stabilisation Fund (IDBI SASF) will provide liquidity support to meet the temporary liquidity mismatches for eligible non-banking financial companies-non-deposit taking-systemically ...
GENERAL INSURANCE:
Chola MS to grow capital base
Cholamandalam MS General Insurance expects to enhance its capital base by investing Rs 75 crore in April 2009 through a rights issue. The paid-up capital of the company will increase from Rs 142 crore to Rs 217 crore while the authorised ...
CREDIT MARKET:
Restructuring of loans: Auditors for separate disclosures in ‘notes’
Mumbai, April 1 “Give them an inch and they’ll take a mile,” is an old English idiom that Indian bankers’ are familiar with. Replace the word ‘them’ with ‘borrowers’ and the idiom is complete ...
GENERAL INSURANCE:
General insurance premium rates may not go up
Industry disappointed, calls for upward revision. Chennai, April 1 Early trends in premium renewals for the current year (2009-10) indicate no increase in premium rates. This is in contrast with the general belief in the insurance industry that ...
GENERAL INSURANCE:
IRDA tightens health cover renewal norms
Hyderabad, April 1 The Insurance Regulatory and Development Authority (IRDA) has tightened norms on renewability and other aspects of health insurance policies to ensure better protection of interests of ...
PUBLIC SECTOR BANKS:
‘BoM to seek more capital when required’
Coimbatore, April 1 Though the requirement for additional capital is not immediate, Bank of Maharashtra would consider the option when the market improves, its Executive Director Mr M.G. ...
CREDIT CARDS & DEBIT CARDS:
Singapore Air, ICICI launch co-branded credit card
Mumbai, April 1 Singapore Airlines and ICICI Bank launched ‘ICICI Bank Singapore Airlines Visa Platinum Credit Card’ ...
INTEREST RATES:
‘Lending rates may drop by another 50 bps’
Bangalore, April 1 Lending rates are likely to drop by another 50 basis points in the coming weeks, according to the Indian Bank Chairman and Managing Director, Mr M.S. ...
GENERAL INSURANCE:
RMSI launches new risk assessment tool for insurers
New Delhi, April 1 General insurance companies can now improve their pricing and monitoring of natural catastrophe risk across various lines of business at pin code resolution for the ...
PUBLIC SECTOR BANKS:
Corp Bank raises Rs 500 cr
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PUBLIC SECTOR BANKS:
Corp Bank cuts PLR by 50 bps
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HOUSING FINANCE:
Dewan Housing rights issue
Mumbai, April 1 Dewan Housing Finance Corporation Ltd said it has filed the draft letter of offer with SEBI for its proposed rights issue and re-pricing of options granted under employees stock option ...
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