Indian Bank gets capital infusion nod
The shareholders of Indian Bank on Monday approved the capital infusion and conversion of Rs 4,000 crore perpetual cumulative preference shares into equity and issued and allotted 3.51 crore equity shares worth Rs 10 to the Government of India in an EGM. With the latest capital infusion, the government of India?s holding in the bank will go up to 81.51% from the existing level of 80%.
Dhanlaxmi Bank posts Rs 119-cr loss
Dhanlaxmi Bank has announced a net loss of R119.37 crore for the third quarter as against a net profit of R4.39 crore in the corresponding period of the last fiscal. In the second quarter of the current fiscal, the bank had reported a net loss of R1.85 crore. NPAs of the bank has increased to 7.05% from 5.31 % in the second quarter and 4.19% in the corresponding quarter of the last fiscal.
?Rel Life gets most complaints online?
Drizzlin Media India, a social media marketing company, has released an analytical report of online complaints made by life insurance customers. According to the online research conducted, Reliance Life has recorded the highest number of consumer complaints on social media platforms and Aviva Life and Max Life had the joint lowest. A total of 346 complaints were collected from of April 1, 2013 till August 31, 2013 of seven insurance brands ? Aviva India, Max Life, LIC, Bajaj Allianz, HDFC Life, Reliance Life and SBI Life.
Srei BNP Paribas ups benchmark rate
Infrastructure and construction equipment financing company Srei BNP Paribas on Monday hiked its benchmark rate by 25 basis points (bps), from 17.75 % to 18 %, with immediate effect. ?This has been necessitated because of the continuing increase in borrowing cost due to market and regulatory factors,? the company said in a statement.
Consent order passed in Amulya Leasing case
Sebi has settled charges of non-compliance of takeover norms against Amulya Leasing and Finance after the company paid Rs 2.95 lakh in
settlement fee. While passing the consent order on Monday, Sebi said it has disposed of adjudication proceedings and this will come into force immediately.
IDBI MF launches open-ended scheme
IDBI Mutual Fund on Monday launched IDBI Debt Opportunities Fund, which is an open-ended income scheme, with a focus on generation of interest income. The NFO opens for subscription on February 11 and closes on February 24, a company release said.
Lower home loan rates for women
Tata Capital will offer home loans at lower rates to women borrowers, on the lines of similar offerings being made by state-run institutions like SBI and LICHF. Women availing of a home loan under Rs 40 lakh can now get credit at 10.15% as against the normal 10.50%, the company said.
