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DEA suggests
independent managers for pension funds
THE Department of Economic Affairs (DEA), which comes under the Union
ministry of finance, has submitted a proposal to the Union Cabinet for
allowing independent fund managers to handle pension funds, according
to DEA joint secretary, Ajit M Sharan.
HDFC’s 50% earnings in next
5 yrs to be from non-housing business: Report
IN the next five years, according to a research report by Morgan
Stanley Dean Witter, HDFC will earn around 50 per cent of its income out
of the non-housing finance business.
Iffco Tokio to launch 5 new
insurance products in May
HAVING already roped in 50 corporate clients and a premium
of Rs 15 crore in early March, new entrant Iffco Tokio General Insurance
will be launching five new products next month.
Bank unions want SC judge to
probe MMCB, bullion scandals
UNITED Forum of Bank Union, a supreme body of the nationalised
banks, in a written memorandum to the Finance Minister Yashwant Sinha
has demanded a thorough probe into the Madhavpura Mercantile Cooperative
bank (MMCB) and bullion scandals by a Supreme Court judge.
RiskXpress.com
to target illiquid debt segment of G-Sec market
RISKXPRESS.com, the first virtual interactive negotiating platform
for fixed income market in the country, is looking towards tapping the
illiquid debt segment of the government securities (GoI-Secs) market.
Crisil to
focus on structured deals, broker-ratings
THE Credit Rating Information Services of India (Crisil) has decided to
focus on structured financial products, securitisation and ratings for
brokers. The rating agency also feels that it can figure out the risk
element in co-operative banks, especially for the stronger ones who want
to distance themselves from weaker ones.
Dena Bank lent Rs 5 cr to MMCB
DENA Bank has lent Rs 5 crore to the ill-fated Madhavpura Mercantile Co-operative
Bank (MMCB) in call money. Said Dena Bank’s chairman and managing
director, AG Joshi: “We have lent Rs five crore to the Madhavpura
Mercantile Co-operative Bank as call money.“
J&K Bank net up 40 per cent
to Rs 168 crore in 2000-01
JAMMU & Kashmir Bank (J&K Bank) has announced a net profit of
Rs 168.11 crore for the year to March 31, 2001, which is a 40 per cent
improvement over its 1999-2000 profit of Rs 120.17 crore.
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