Citi on Monday appointed Anand Selvakesari as the head of consumer banking for Asean. Selvakesari will continue in his current role as Citi India’s head of consumer banking, a position he has been holding since July 2011, the bank said.
Canara Bank to raise R1,500 crore
Canara Bank?s board said on Monday it is raising R1,500-crore additional capital through issue of Basel-III compliant tier-II bonds. The bonds are rated AAA stable by ratings agency Icra and AAA (hyb) by Crisil Ratings.
IOB to raise R350 cr through QIP
The Indian Overseas Bank (IOB) said on Monday its board has approved raising of R350 crore through qualified institutional placement (QIP). The board cleared the proposal to raise up to R350 crore from issue of shares on preferential basis and/or
QIP, IOB said in a filing to BSE.
SBI Life launches Flexi Smart Plus
SBI Life Insurance on Monday launched Flexi Smart Plus, a product designed to to create wealth with protection cover. The product is available at a minimum premium amount of R50,000 per annum, with an option of annual, half-yearly, quarterly and monthly premium payment modes.
Reliance Life to beef up proprietary channels
Private insurer Reliance Life Insurance, which hired 2,000 people for its proprietary channels in the past one year, on Monday said it plans to strengthen this category by 10-20% in the next financial year.
