13 Sep 2002
Old mutual open to higher OM Kotak pie
Mumbai: Old Mutual, the foreign partner of OM Kotak Mahindra Life Insurance Company, is ready to hike its stake in the joint venture if the Government of India so permits.
RBI okays Dhanalakshmi Bank rights shares allotment
Mumbai: The Reserve Bank of India has cleared the allotment of shares of the recently concluded rights issue of the Thrissur-based Dhanalakshmi Bank Ltd.
RoNW of old private banks is higher than new counterparts
Old private sector banks return on net worth is higher compared to that of new private sector banks during 2001-02.
SBBJ slaps notices to defaulters for Rs 41 crore
Mumbai: Taking advantage of the new debt Ordinance, the State Bank of Bikaner & Jaipur has issued 409 notices involving Rs 41 crore to wilful defaulters.
Vote for voting rights
For voting rights of shareholders in banks to change an entire set of Acts has to be changed by Parliament and the Finance Ministry is in no mood for it. Voting rights (as they stand now) vary with the organisational structure of the banks.
No pressure on profit margins, says HDFC
Hyderabad: Despite slashing interest rates on advances several times in the recent past, Housing Development Finance Corporation Ltd (HDFC), the market leader in the housing finance sector with over 50 per cent share, finds "no pressure on its profit margins and hopes to maintain the same level of growth rates in both top and bottomline even during the current fiscal year.
IDBI Bank gets BNP `merchant' portfolio
Mumbai: IDBI Bank has acquired a portfolio of over 2,500 merchants establishments from the French Bank, BNP Paribas.
ICICI Home Finance to hold property show
New Delhi: ICICI Bank Home Loans and ICICI Bank Home Search, the property search division of ICICI Bank, will hold a three-day property exhibition at Hotel Samrat in the Capital from September 14 to 16.
Much at stake for Govt in IFCI bail-out
New Delhi: Fears of a severe dent of the country's image abroad and the possibility of an adverse political fallout within is likely to force the Government to drop the option of closure of IFCI Ltd as part of the restructuring package that is being finalised for the institution.
Crunch in call money despite surplus liquidity
Mumbai: In the inter-bank call money market on Friday, the call rates went as high as 6.25 per cent. Said the chief dealer of a primary dealer, "Call rates have not crossed six per cent in several months.'
ICICI Home Finance to hold Housing Fairs
New Delhi: ICICI Bank Home Loans and ICICI Bank Home Search, the property search division of ICICI Bank, will hold a three-day property exhibition at Hotel Samrat, New Delhi, from 14 to 16 September 2002.
The exhibition, styled ICICI Bank Home Utsav, will not only provide information on the various home loan schemes offered by ICICI but also has a virtual display of over 50,000 new and resale properties in and around Delhi such as Gurgaon, Noida and Ghaziabad, says ICICI Home Finance Company Ltd COO Rajiv Sabharwal.
"Around 20 leading developers such as DLF Universal, Unitech, Omaxe and Ansal Housing are going to participate in this exhibition, and on display will be more than 100 projects," he adds.
ICICI Bank Home Loans will offer a discounted interest rate of 9.75 per cent to those who opt for spot sanctions for a period between six and 10 years, and a 10.25-per cent rate of interest for a repayment period stretching between 11 and 20 years. Sabharwal says the bank will also reduce the total fee, originally 1 per cent of the loan amount, to 0.5 per cent during the exhibition.
