The Hindu Business Line : Thursday, September 17, 2009

MONEY & BANKING

CREDIT MARKET: Low credit to bank performance
‘NO-FRILLS’ ACCOUNT. Mumbai, Sept. 16 The financial inclusion drive by banks through the opening of ‘no-frills’ accounts leaves a lot to be desired, especially in the case of the urban ...

GENERAL INSURANCE: United India Insurance plans massive agency recruitment
Focusing on motor third party claims, fire and health to cut losses. United India Insurance Company is planning a massive agency recruitment drive. It is anticipating a six-fold increase in agency force from around 15,000 at present to one lakh ...

FINANCIAL INSTITUTIONS: Kerala setting up FI based on Islamic banking principles
Thiruvananthapuram, Sept. 16 The Kerala State Industrial Development Corporation (KSIDC) is teaming up with a core group of 20 private investors to set up a financial institution based on Islamic banking ...

CONSUMER FINANCE: UCO Bank teams up with M&M
...

SHORT TERM INSTRUMENTS: Call rate ends at 3.3%
The inter-bank call rate ended at 3.3 per cent, against the previous close of 3.20-3.30 per cent. Under the Liquidity Adjustment Facility (LAF) conducted by the Reserve Bank of India, there were no bids in the one-day repo auction. In the ...

PUBLIC SECTOR BANKS: United Bank achieves 100% CBS
...

CREDIT MARKET: PNB, Oriental Bank offer sops on retail loans
New Delhi, Sept. 16 With the festival season round the corner and the dispersal of retail loans on a high, banks are now gearing up to provide sops to entice more ...

NBFCS: Manappuram’s credit rating moves to A1+
ICRA has upgraded the short-term rating of Manappuram General Finance and Leasing Ltd (MAGFIL), the flagship company of the Thrissur-based Manappuram Group, from A1 to ...

ALLIANCES & JOINT VENTURES: AXA to provide reinsurance support to Bharti AXA
Bangalore, Sept. 16 Global insurance major AXA said it was committed to providing reinsurance support to its domestic joint venture, Bharti AXA General ...

NON-PERFORMING ASSETS: Banks told to set up special units for fraud risk management
Mumbai, Sept. 16 Banks must frame an internal policy for fraud risk management and fraud investigation, said the Reserve Bank of India, in a notification issued ...

OUTLOOK: South Indian Bank aims at 20% biz growth
Thrissur-based South Indian Bank aims to achieve a business growth of 20 per cent at Rs 36,000 crore by the end of March 2010, according to its Executive Director, Mr ...

PREFERENTIAL ALLOTMENTS: Tata Capital to raise Rs 2,100 cr by next fiscal
New Delhi, Sept.16 Tata Capital Ltd announced on Tuesday that it would scale up its consumer finance and advisory business (CFAB) and raise Rs 2,100 crore in Tier II capital by the end of March ...

GOVT BONDS: RBI may hike HTM cap on bonds for banks
Mumbai, Sept. 16 The Reserve Bank of India may look at increasing the limit of the Held-to-Maturity portfolio of government bonds for banks, if it will help in the completion of the government borrowing programme, said Dr K.C. Chakrabarty, ...

TRADE & LABOUR UNIONS: Insurance staff stage protest
Unions and associations of the public sector general insurance companies observed an all-India protest day on Tuesday to demonstrate against delays in convening wage talks, aberrations in promotion policies, compulsory transfer of ...