MONEY & BANKING
FINANCIAL SERVICES
Powers for banks to open lockers on rent default
RBI issues draft guidelines on high-risk customer profile
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AWARDS & HONOURS
Allahabad Bank gets State award
Allahabad Bank, which has a large concentration of branches in West Bengal, has been awarded the West Bengal Government's prize for outstanding performance in recruitment of persons with disabilities, says a press release. The ...
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INSIGHT
Detariffing insurance sector — A cover for all
Detariffing means that the pricing of insurance policies are left to the individual insurance companies concerned, to decide and offer, based on their analysis and perception of risk.
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COURTS/LEGAL ISSUES
`Review stand on liability cover for transporters'
Liability cover on transporters on lost, damaged goods
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FOREX
Rupee up on dollar inflows
The rupee edged up slightly against the greenback on the back of dollar inflows. The domestic currency opened at 44.61/63 and touched an intra-day high of 44.58 before winding up at 44.62, up from Friday's close at 44.66. Dealers ...
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INFORMATION TECHNOLOGY
Banks must become supermarkets: SEBI chief
With the industry confronting diverse challenges, banks have to become supermarkets that provide an array of products and deliver superior service to the clients, Mr M. Damodaran, Chairman of the Securities and Exchange Board of India, said. ...
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NBFCS
NBFCs can issue credit cards, distribute MFs
Non-banking finance companies (NBFCs) with a minimum net-owned fund of Rs 100 crore and a net profit for two years can now distribute mutual funds and issue co-branded credit cards (with commercial banks) with prior approval of RBI. According ...
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LIFE INSURANCE
LIC Pre-Chairman's Club Convention
The Eastern Zonal Council of Life Insurance Agents' Federation of India (LIAFI) will hold its "Pre-Chairman's Club Convention" here on Tuesday. The meeting assumes significance in view of the ongoing agitation of LIAFI that ...
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GOVT BONDS
Bond prices move up
Bond prices rallied by around 25 paise, tracking softening US yields to 4.40 per cent. Total traded volumes on the order matching system were Rs 8,465 crore (Rs 4,490 crore). Comfortable liquidity helped yields to drop by ...
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SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates ruled unchanged between 6.1 per cent and 6.2 per cent. In the first one-day reverse-repo auction under LAF, RBI received and accepted seven bids for Rs 3,430 crore. There were no repo bids. In the second one-day ...
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TRADE & LABOUR UNIONS
KSIDC staff on warpath
The employees of Kerala State Industrial Development Corporation (KSIDC) have threatened to resort to various modes of agitation on the issue of pay revision. The KSIDC Employees Association observed `protest day' on Monday demanding ...
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PEOPLE
Karnataka Bank General Manager
Mr K.H. Shivaswamy Aithal, Deputy General Manager, Karnataka Bank Ltd, Bangalore Region, has been promoted as General Manager. A bank release said here on Monday that as General Manager, Mr Aithal will hold the portfolios of ...
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NEW PRODUCTS & SERVICES
PNB's new remittance service
Punjab National Bank (PNB) has launched a new remittance service with Buyindiaonline.com Inc, a wholly owned subsidiary of Xoom Corporation, USA. Under this service, non-resident Indians can send their remittances to India ...
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