The Hindu Business Line : Thursday, June 04, 2009

MONEY & BANKING

INSURANCE: Public sector insurers to dole out incentive payments to employees
Govt approval for proposal awaited. Bangalore, June 3 Even as the private sector insurers are pruning wages, the four public sector insurance companies are preparing to offer performance incentives ...

FOREX: Rupee sheds gains on dollar buying
The rupee touched a seven-month high, but fell in the last one hour of trade on dollar buying. The domestic currency opened higher at 46.91/92 and touched a high of 46.75 during day trade. It weakened to close at 47.06/08, against the previous ...

FOREIGN BANKS: Bank of Bahrain unveils e-banking
Bank of Bahrain & Kuwait BSC (BBK) has launched e-banking facility in India. Mr Mohammed Bin Isa Al Kahalifa, Deputy Chairman of Executive Committee of the Board of Directors of the bank, formally inaugurated the facility here, according to ...

PEOPLE: New CMD for National Insurance
Mr N.S.R.C. Prasad, Director and General Manager, New India Assurance Company Ltd, has been appointed Chairman and Managing Director of National Insurance Company Ltd. He succeeds Mr V. Ramasaamy who retired recently. — ...

PRIVATE BANKS: Anand Mahindra ceases to be a promoter of Kotak Bank
Mumbai, June 3 Kotak Mahindra Bank Ltd (KMBL) on Wednesday said that Mr Anand Mahindra will cease to be a promoter of the bank. The private sector bank’s board of directors approved the change in status, requested by Mr Mahindra, ...

PRIVATE BANKS: Friends & promoters
Chennai, June 3 The wheel has come a full circle for Mr Uday Kotak and Mr Anand Mahindra. Twenty-five years ago, Mr Anand Mahindra had told Mr Uday Kotak, who was just starting out in his career, that he would invest in any business that ...

LIFE INSURANCE: Bharti AXA Life targets Rs 1,000-cr fresh premium this fiscal
Mumbai, June 3 Bharti AXA Life Insurance is targeting Rs 1,000-crore fresh premium this fiscal and is likely to break-even by 2012-2013, according to Mr Nitin ...

CREDIT MARKET: Kerala Financial launching scheme for Gulf returnees
Thiruvananthapuram, June 3 The state-owned Kerala Financial Corporation (KFC) is launching a scheme for providing entrepreneurial loans at a low interest rate of seven per cent to those returning from the Gulf countries after losing job in ...

GENERAL INSURANCE: ICICI Lombard plans critical illness cover for high net worth individuals
Kolkata, June 3 ICICI Lombard General Insurance plans to launch in the next quarter a critical illness health insurance cover for high net worth individuals, according to a senior ...

LIFE INSURANCE: LIC sees new biz premium improving
Hyderabad, June 3 Life Insurance Corporation of India (LIC) will continue to invest in equity despite current ...

PRIVATE BANKS: New TMB chief takes charge
Madurai, June 3 Mr Nagamal Reddy has taken charge as the Managing Director and Chief Executive Officer of the Tuticorin-based Tamilnad Mercantile Bank Ltd from June 1, according to a press release from the ...