The Hindu Business Line : Tuesday, December 11, 2007

INSURANCE
Restructure commission rates to banks, says IRDA
Mumbai, Dec 10 Commissions given to banks should be restructured to control the lapse of policies, said Mr K. Subrahmanyam, Executive Director, Insurance Regulatory and Development Authority.Currently, the commission rate offered in the ... More

PRIVATE BANKS
Axis Bank opens Kochi branch
The Axis Bank Ltd opened its 15th branch in Kerala at Willingdon Island here on Monday. While inaugurating the branch, Mr N. Krishna Kumar, Vice-President of the Bank, said that the bank with 596 branches and 2,500 ATMs has embarked upon an ... More

PUBLIC SECTOR BANKS
IOB to accept tax payments
Tax payers may pay their taxes through the branches of Indian Overseas Bank, the bank has said in a press release. “The only requirement is that the taxpayer has to open an account with any of our networked branches and register for E ... More

FINANCIAL INSTITUTIONS
Rs 320-cr DFID grant for health sector in AP
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GOVT BONDS
Municipal bond market to see slew of issues
‘Set to emerge as optimal instrument for infrastructure finance’ More

Lacklustre trading in bonds
Bond prices were rangebound throughout the day as traders were cautious ahead of the US Federal Reserve meeting on Tuesday. Total traded volumes on the order-matching system were at Rs 4,175 crore. Dealers said that they expected the US Fed to ... More

SHORT TERM INSTRUMENTS
Call rates end lower
Call rates closed at 7.70-7.80 per cent against the previous close of 8.10-8.20 per cent. In the one-day reverse repo auction under Liquidity Adjustment Facility, the Reserve Bank of India received and accepted 1 bid for Rs 10 crore. There were ... More

FIXED DEPOSITS
ICICI Bank to offer tax concessions on NRO deposits
Mumbai, Dec. 10 Non-resident Indians and Persons of Indian Origin can claim tax concession on their Non-Resident Ordinary (NRO) deposits under the Double Taxation Avoidance Agreement (DTAA). So far, banks were offering the concession ... More

VENTURE CAPITAL
A turnaround specialist for stressed assets
Trans-Continental to float fund to invest in sick companies More

PEOPLE
New chairman of Royal Sundaram
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Meera Sanyal to head ABN Amro
Mumbai, Dec 10 ABN AMRO today announced the appointment of Ms Meera H. Sanyal as Country Executive for India.The appointment follows the resignation of Mr Romesh Sobti last week from the top post to take over as Managing Director of ... More