RBI: Need efficient bankruptcy law India needs an efficient bankruptcy law in the corporate bond market, Reserve Bank of India executive director R Gandhi said on Friday. There is a need to encourage public issuance of bonds, he said, adding the private placement of bonds should be restricted.
Sundaram BNP Paribas raises PLR
Sundaram BNP Paribas Home Finance has raised prime lending rates (PLR) by 0.25%. Consequently, the rate of interest on all variable rate loans of all existing customers would increase by 0.25% from September 1. Increase in rate has been driven by tight liquidity in the market and an increase in borrowing costs, said managing director Srinivas Acharya said.
Rel General to expand insurance basket
Reliance General Insurance is focusing on fire, engineering and marine insurance as part of its plan to diversify product basket and achieve profitable growth, a top company official said. We are focusing on commercial lines, fire, engineering and marine insurance, said CEO Rakesh Jain.