The Hindu Business Line : Friday, February 10, 2006

Sharp drop in new insurance licences — Shakeout seen in broking biz
THREE years into the insurance broking business may not seem much but brokers are already perceiving a shakeout in the industry. An IRDA progress report on the status of the industry shows that the number of licences (for insurance brokers) has ... More

NBFCS

NBFCs seek tax sops on par with financial institutions, banks for NPAs
NON-BANKING finance companies have sought tax sops similar to the ones extended to banks and financial institutions against provisioning done for non-performing assets (NPAs). At a pre-Budget meeting with the Finance Minister, Mr P. ... More

HOUSING FINANCE

Canara Bank home loan fest in Thiruvananthapuram
THIRUVANANTHAPURAM: Canara Bank is organising a three-day home loan festival here at VJT Hall from February 20. The rates of interest offered are: 7.25 per cent for loans with a repayment period of up to five years and 7.5 per cent for ... More

GENERAL INSURANCE

Renewal of contracts — Global reinsurers unlikely to hike rates for India
AFTER a terrible year during which Indian non-life insurance companies faced huge losses due to a series of natural calamities, 2006 has begun by springing a pleasant surprise to them. Much to their relief and contrary to their expectations, ... More

INTEREST RATES

IBA report on multiple BPLR by this month
THE Indian Banks' Association hopes to finalise its report on the multiple Benchmark Prime Lending Rate (BPLR) rate this month and submit the same to the Reserve Bank of India. The Chief Executive of IBA, Mr H.N. Sinor, said, "We are still ... More

NON-PERFORMING ASSETS

BoI Coimbatore aims for cash recoveries of Rs 33 cr this year
BANK of India (BoI), Coimbatore zone, is targeting cash recoveries of Rs 33 crore this fiscal. In the last nine months it has recovered Rs 24.5 crore and is confident of recovering the rest within 50 days. During the previous fiscal, cash ... More

CREDIT MARKET

Credit offtake by oil cos high
Besides drawing down of credit lines, some of the oil companies were also resorting to raising funds through the collateralised borrowing and lending obligation markets. Their borrowings are estimated at Rs 30,000 crore due to under-recoveries during the whole of this financial year. More

CREDIT CARDS & DEBIT CARDS

BoB keen to expand credit card base
BANK of Baroda is looking for a partner to provide backroom processing and planning to set up a joint venture for its wholly owned card subsidiary Bobcards. The bank is looking to boost its credit card base from 1.5 lakh to 10 lakh by March 2007, ... More

FIXED DEPOSITS

Due date extended for banks to file quarterly returns on deposits
THE Finance Ministry has once again extended the due date for the filing of quarterly returns by banks, co-operative societies and certain public companies of all deposits on which interest was paid without deduction of tax at source. The ... More

ALLIANCES & JOINT VENTURES

R Trade ties up with UTI Bank
R Trade, the financial services brand promoted by the Anil Ambani group, has tied up with UTI Bank which will serve as its main banker. Transactions done through R Trade Securities and R Trade Commodities, respectively the stock and commodity ... More

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Renewal of contracts — Global reinsurers unlikely to hike rates for India

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In Focus

Infrastructure woes stare IT sector