1. Birla Sun Life Insurance has set a target of Rs 1,000 crs in new business premium by the fiscal-end. The company received Rs 600 crs in new business premium last year. The insurance company hoped to accelerate the growth in premium.
2. LIC's North Zone completed its annual total first premium income (FPI) target on November 15 by bringing in a total FPI of Rs 4,478.28 crs, posting a growth rate of 193%.
3. DCB will issue equity shares up to Rs 225 crs to qualified institutional buyers. This may lead to a dilution of promoter Aga Khan Fund for Economic Development's stake from 29.8% to below 26%.
4. United Bank of India held an interface programme with NGOs, the objective being to increase the existing credit exposure of the bank and assist the target agencies to expand their activities.
5. BOI is striving to enhance its credit exposure to the SME segment to Rs 1,000 crs this fiscal.
6. Since April, it has formulated and implemented 25 cluster schemes, financed about 27,000 new accounts and sanctioned to the tune of Rs 753 crs. It is confident of surpassing the target. It has prioritised 61 clusters for intensive development. It is also willing to modify the rules and evolve schemes to suit customer requirements.
7. RBI employees all over the country will participate in the nationwide strike called by central trade unions on December 14.
8. In order to provide insight into the existing business opportunities available in the various fields such as tourism, IT and industry in Doha and India, the Doha Bank is organising an investor meet in Kochi on November 21.
9. French banking group Societe Generale is looking for fresh Indian partners to build on its consumer credit portfolio in India. The group, which has already acquired 75% in Apeejay Finance, expects the sector to expand rapidly, the footprint of the universal bank in India. Post-acquisition, Societe Generale expects to drive the management of the new entity, which manages over Rs 500 crs in outstanding loans.
10. Nabard has renewed its request to the Centre to allow it to set up a dedicated Rs 25,000 crs fund to provide concessional refinance to co-operative banks and RRBs. It has asked for permission to refinance at least 80% of crop loans extended by cooperative banks and RRBs so that they may provide these loans to farmers at 7% or less.
11. Doha Bank will soon launch an exclusive offshore fund, with Tata Mutual Fund, opening new vistas for investment for NRIs in Qatar.
12. Banks will have to call back around Rs 9,000 crs in loans to stock brokers after the RBI’s proposed norms on banks’ capital market exposure take effect from January 1, 2007. The proposed norms seek to restrict advances against shares from the entire banking system to a single borrower to Rs 20 lakh if the security is held in demat form and to Rs 10 lakh if the security is held in physical form. The ceiling applies to individuals, partnerships and companies.
13. Indian Banks see big business as China opens up banking sector.
2. LIC's North Zone completed its annual total first premium income (FPI) target on November 15 by bringing in a total FPI of Rs 4,478.28 crs, posting a growth rate of 193%.
3. DCB will issue equity shares up to Rs 225 crs to qualified institutional buyers. This may lead to a dilution of promoter Aga Khan Fund for Economic Development's stake from 29.8% to below 26%.
4. United Bank of India held an interface programme with NGOs, the objective being to increase the existing credit exposure of the bank and assist the target agencies to expand their activities.
5. BOI is striving to enhance its credit exposure to the SME segment to Rs 1,000 crs this fiscal.
6. Since April, it has formulated and implemented 25 cluster schemes, financed about 27,000 new accounts and sanctioned to the tune of Rs 753 crs. It is confident of surpassing the target. It has prioritised 61 clusters for intensive development. It is also willing to modify the rules and evolve schemes to suit customer requirements.
7. RBI employees all over the country will participate in the nationwide strike called by central trade unions on December 14.
8. In order to provide insight into the existing business opportunities available in the various fields such as tourism, IT and industry in Doha and India, the Doha Bank is organising an investor meet in Kochi on November 21.
9. French banking group Societe Generale is looking for fresh Indian partners to build on its consumer credit portfolio in India. The group, which has already acquired 75% in Apeejay Finance, expects the sector to expand rapidly, the footprint of the universal bank in India. Post-acquisition, Societe Generale expects to drive the management of the new entity, which manages over Rs 500 crs in outstanding loans.
10. Nabard has renewed its request to the Centre to allow it to set up a dedicated Rs 25,000 crs fund to provide concessional refinance to co-operative banks and RRBs. It has asked for permission to refinance at least 80% of crop loans extended by cooperative banks and RRBs so that they may provide these loans to farmers at 7% or less.
11. Doha Bank will soon launch an exclusive offshore fund, with Tata Mutual Fund, opening new vistas for investment for NRIs in Qatar.
12. Banks will have to call back around Rs 9,000 crs in loans to stock brokers after the RBI’s proposed norms on banks’ capital market exposure take effect from January 1, 2007. The proposed norms seek to restrict advances against shares from the entire banking system to a single borrower to Rs 20 lakh if the security is held in demat form and to Rs 10 lakh if the security is held in physical form. The ceiling applies to individuals, partnerships and companies.
13. Indian Banks see big business as China opens up banking sector.
