ICICI Prudential launches products targeted at healthcare sector
Panaji: In a bid to tap the potential in healthcare sector ICICI Prudential Life Insurance has launched insurance products to cover over 1,000 surgeries, surgical procedures and hospitalization.

With the launch of the products, the company moves into the realm of offering products that go beyond covering illnesses such as cancer, heart ailments, organ failures and others.

The company, with 583 branches at 421 locations, offers daily hospitalisation cash benefits and ICU benefits.
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Dubai firm picks up 2.87-per cent stake in ICICI Bank
Dubai: The investment arm of Dubai Holding, Dubai International Capital (DIC), has picked up 2.87 per cent stake in ICICI Bank India's largest private bank.

This is DIC's recent purchase of 3.12-per cent stake in European Aeronautic Defence and Space Company EADS, the parent company of aircraft manufacturer Airbus.

The Dubai firm may have paid $717 million for the stake acquired via an American depository receipts (ADR) issue open to foreign investors.

The strategic investment in ICICI supports the global diversification and growth mandate for DIC and its parent company, Dubai Holding," Sameer Al Ansari, chief executive officer, DIC, said.

DIC aims to have assets worth $25 billion in the next two years.
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India's forex reserves at a record $214.835 billion
Mumbai: India's foreign exchange reserves rose to a record $214.835 billion on 6 July, from $213.486 billion a week earlier, the Reserve Bank of India said in its weekly statistical supplement on Friday.

The central bank said foreign currency assets expressed in US dollar terms included the effect of appreciation or depreciation of other currencies held in its reserves such as the euro, pound sterling and yen.
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Dena Bank to enter non-life insurance business
Kolkata: Dena Bank is forming a joint venture to foray into the non-life insurance sector along with other partners. The idea is at a conceptualisation stage and is yet to get approval of the board.

Dena Bank would hold 26-per cent stake in the proposed JV in which there would be other domestic and foreign players.

At present, the bank is selling products of LIC for life and Oriental Insurance for non-life.

During the current fiscal, the bank is eyeing a credit growth of 22 per cent and deposit growth of 23 per cent as compared to 27 per cent and 18 per cent respectively in the last financial year.
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