General insurer Oriental Insurance Company is aiming to rake in Rs 4,400 crore premium income in the current financial year and is planning to give incentives to employees and sell policies online to achieve this target.

Oriental targets Rs 4,400 cr premium income in FY10

Business Standard

The country&rsquo;s largest lender, State Bank of India (SBI), said on Monday it is likely to start its general insurance business by March next year.

SBI may commence general insurance biz by Mar 2010

Press Trust of India

The General Insurance Corporation of India (GIC) is planning to join hands with regional transport offices (RTOs) to track uninsured vehicles.

GIC to take RTOs' help to track uninsured vehicles

V Vaidyanathan, the new managing director and CEO of ICICI Prudential Life Insurance, is trying to get the private sector player overcome the temporary distractions and once again grab market share. At the same time, he tells Sidhartha, higher efficiency and cost control will be the buzzword in making the company profitable in the next two years.

'We will break even latest by 2012'

CDR cell, banks had sought extension of Aug 30 deadline for restructuring assets.

RBI against extension of debt recast deadline

IDBI Bank is planning to securitise part of its infrastructure loan portfolio to release resources and capital.

IDBI to securitise infra loans worth Rs 1,000 cr

Central bank group suggests ATMs with in-built detectors, sorting machines at all bank branches.

RBI may get cracking on fake notes

PTC Financial Services, a subsidiary of Power Trading Corporation, is mulling to raise Rs 1,500 crore by divesting 26 per cent of the promoters&rsquo; stake.

PTC Fin may raise Rs 1.5k cr through IPO by FY11-end

Lower limits, fewer issuances &amp; reduced spending main reasons.

Credit card balances' growth declines to all-time low

Finance Secretary Ashok Chawla said today it was difficult as of now to gauge the impact of weak rains on the economy, and whether the government would need to borrow more than scheduled in the current financial year to mitigate the impact of a drought in many parts of the country.

Govt yet to decide on borrowing for drought relief

A day after announcing the latest debt instrument to tide over temporary cash flow problem, the government and the Reserve Bank of India (RBI) have tried to clear the air on the cash management bills and said that the tool would not be used to fund the Centre&rsquo;s fiscal deficit.

Govt: Latest debt instrument not to fund fiscal deficit

The country&rsquo;s first listed gold loan company, Manappuram General Finance and Leasing Ltd (MAGFIL), is planning to raise around Rs 250 crore from the capital market and a loan of Rs 3,000 crore from banks. The proposed money infusion was to achieve the target of Rs 5,000 crore business by 2010-11, said VP Nandakumar , chairman and managing director, Manappuram Group of Companies.

MAGFIL may raise Rs 3,250 cr

Primary issuances continued to rise today on views that rates would rise more in September, and also because some issuers refinanced papers maturing in August, dealers said.

Primary issuers refinance commercial papers

Shinsei Bank, the Japanese lender backed by Christopher Flowers, said a planned merger with Aozora Bank would not disrupt operations at its Indian asset management firm as it prepares to start a third fund.

Shinsei to continue Indian fund operations

Tiruchy-based non-banking finance company Grama Vidiyal Micro Finance Ltd (GVMFL) is planning to raise around Rs 100 crore by way of non-convertible debentures over the next three months. The money will be utilised to support the company&rsquo;s expansion plan, said S Devaraj, chairman and managing director, GVMFL.

Grama Vidiyal to raise Rs 100 crore

Cap on Ulip charges, MF entry load ban to strain bottom line.

Banks&#39; fee income may come down

Yes Bank, the home-grown lender that started operations five years ago, has put on hold its plan to hive off its investment banking (i-banking) division. It now plans to first start a brokerage business and consolidate its operations.

Yes Bank not to hive off i-banking arm

Corporates expected Reserve Bank to intervene in the next 6-12 months to suck out excess liquidity from the banking system, which meant increase in key-short term rates, a J P Morgan survey said on Wednesday.

&#39;RBI may suck out excess liquidity in a year&#39;

Banks continued to issue certificates of deposit (CDs) to refinance papers that mature in August, and on views that rates might rise in September, dealers said.

Certificates of deposit issues pick up

Bangalore-based public sector lender Vijaya Bank opened two more branches in Hyderabad on Wednesday, taking the total number of branches in Andhra Pradesh to 97. The branches at Dilsukhnagar and Madhapur were inaugurated by bank&rsquo;s chairman and managing director Albert Tauro.

Vijaya Bank opens two more branches in Hyd

Fortnight ended July 31 witnesses Rs 29,500-crore jump.

Heavy disbursals give bank credit a big push

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