NBFCS
Investment norms for RNBCs tightened
IN an attempt to offer greater safety and liquidity to depositors' money, the Reserve Bank of India (RBI) has tightened the investment norms for residuary non-banking companies (RNBCs). The directed investments of RNBCs will be increased from ... More

GENERAL INSURANCE
Tata AIG targets 45 pc growth in premium income this fiscal
TATA AIG General Insurance, the country's third-largest private insurance player, is targeting a 45 per cent increase in premium income at over Rs 500 crore this fiscal. The company, which started operations in January 2001, is expected to break ... More

DEBT MARKET
Credit, not treasury, will determine banks' profits
Banks were well-positioned to take advantage of the huge upward move in bond prices as the Reserve Bank of India mandates that at least 25 per cent of their liabilities must be invested in gilts as part of the Statutory Liquidity Ratio (SLR). ... More

PRIVATE BANKS
Bharat Overseas sees gains from Indo-Thai pact
BHARAT Overseas Bank, the only Indian bank that has a branch in Thailand, expects positive spin-off from the India-Thailand Free Trade Agreement. "We are well-positioned to capture the business," Mr G. Krishnamurthy, Chairman, told newspersons ... More

FOREIGN BANKS
Fine pulls StanChart net down to Rs 596 cr
STANDARD Chartered Bank has registered a 30 per cent drop in net profit for the year ended March 2004 to Rs 596 crore, down from Rs 848 crore in the previous year due to the hefty fine of Rs 157 crore that the bank had been slapped with relating ... More

GOVT BONDS
Rupee hits 11-month low; bonds crash
THE ongoing turmoil in the domestic financial markets deepened on Tuesday over apprehensions of a global hardening in interest rates and rising demand for the greenback in the wake of lower trade flows. While the rupee tumbled to an 11-month ... More

TRADE & LABOUR UNIONS
Insurance staff demand policy changes
THE All-India Insurance Employees' Association (AIIEA) has urged the United Progressive Alliance Government to merge the four general insurance companies into a single corporation and to repeal the Life Insurance Corporation (LIC) Amendment Act, ... More

TRENDS
Rural branches no drain on banks
IT is generally believed that rural business is a losing proposition for banks and it is only Government diktat that is forcing them to maintain branches in the country's hinterland. This perception is also strengthened by the fact that ... More