New brand identity for its IDBI’s retail foray
Mumbai: IDBI Bank has unveiled a new brand identity affirming the bank's strategic foray into retail banking. The new brand identity aims at communicating the bank's techno-savvy image and commitment to providing its customers with world class service.

IDBI Bank has created a unified brand and has appropriated the lowercase `i' which signifies the individual in the bank, the consumer, and the bank itself. The words `idbi bank' have been italicised and in lower case because of its relevance to the Internet age. Branch signage and interiors, stationery and communication material will be unified to build and re-reinforce the brand across the retail network. IDBI Bank plans to complete the transition by March 31, 2001.

The bank plans to expand its retail reach from 51 branches to 75 branches and to introduce 230 higher-end ATMs from the existing 69, over the next eighteen months. IDBI Bank offers range of services, including demat accounts, loans against equity shares, home loans, educational loans and personalised banking services.
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LIC to launch new policy with guaranteed returns
Mumbai: Life Insurance Corporation of India (LIC) is planning to launch a new policy instrument, wherein the insured can choose between various levels of guaranteed returns depending on the tenure of the policy. The new policy will be a savings product, where the guaranteed returns increases with the term, similar to the deep discount bond.

This will be the second new product that will be launched by the corporation after the recent entry of new private players in the insurance sector. LIC had just recently also launched its first capital market linked insurance plan - Bima Plus, somewhat similar to a mutual fund scheme though eligible for tax rebates under Section 88 of the I-T Act.
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Oil PSUs register Rs 8592.28-crore in profits for Apr-Dec 2000
New Delhi: Public sector enterprises in the oil sector have recorded a total net profit of Rs 8,592.28 crore during the first nine months of current fiscal.

The highest profit of Rs 3,937 crore was earned by Oil and Natural Gas Corporation (ONGC) followed by Indian Oil Corporation (IOC) Rs 2,007 crore, Gas Authority of India Ltd. (GAIL) Rs 819 crore, Hindustan Petroleum Corporation Ltd. (HPCL) Rs 761 crore and Bharat Petroleum Corporation Ltd. (BPCL) Rs 499 crore.
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HUDCO seeks 100 per cent tax exemption on housing investment
New Delhi: Housing and Urban Development Corporation (HUDCO) has sought total tax exemption on investment made in housing and infrastructure in the coming budget.

Mr. P S Rana, director, corporate planning, HUDCO has said that government should allow total tax deduction for all investment in asset creation in infrastructure and real estate sectors. Such an incentive in the forthcoming budget, he said would help unearth unproductive money.
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