04 Jan 2003

Canara Bank to raise Rs 300 cr via Tier-II debt
Canara Bank intends to come out with a Rs 300-crore Tier-II debt issue to augment its capital base during the current fiscal.

SBI attaches Nav Maharashtra's 6 properties
The State Bank of India's (SBI) industrial finance branch here has attached six properties in Pune and Chakan of the Nav Maharashtra Chakan Oil Mills, Ahmednagar for recovery of Rs 10.4 crore. This follows the orders of the Debt Recovery Tribunal (DRT), Pune, passed on October 29. Warrant for seizure of property was issued on December 18.

Small is beautiful: Banks get down to micro-finance
Banks are doing what they know best as part of their social initiatives: lending money. And micro-credit is emerging as the social face of banks with HDFC Bank, ICICI Bank and Citibank having launched their respective micro-finance programmes.

LGF to sell LIC products
Lakshmi General Finance Ltd, part of the TVS group, will distribute products of Life Insurance Corporation of India. The non-banking finance company has already entered into an agreement with LIC for the marketing arrangements. Full story