LIC uses market volatility to raise stake in companies
Life Insurance Corporation of India has used market volatility during the March quarter to raise its stake in companies on Read more
HDFC Bank
Bank, insurance services paralysed
Public-sector banks and many government offices were shut recently on the second day of a general strike called by 11 trade unions pressing their demands and to protest against the ‘government’s pro-market reforms’. Read more
New bank licence guidelines very soon™: RBI deputy governor
Reserve Bank of India (RBI) is likely to “very soon†come out with the final guidelines on new bank licences as its consultation with the finance ministry on the issue is nearing an end, deputy governor Anand Sinha said. Read more
LIC cuts stake in 27 Nifty firms; sells shares worth Rs 8000 cr
State-run insurance giant LIC has lowered its holdings in as many as 27 of the 50 blue-chip firms forming the market benchmark index Nifty, while selling shares worth an estimated Rs 8,000 crore. Read more
CERS exposes convenient interpretation of rules by leading private sector bank
Consumer forum orders HDFC Bank to refund hefty amount charged illegally from a credit card holder
In a case that exposes unfair trade practice adopted by a leading private sector bank, which charged a hefty amount from its credit card holder by wrongly interpreting rules despite timely payment of the due, The Consumer Disputes Redressal Forum, Ahmedabad (Additional) has ordered the bank to return the amount with interest from the day it was collected. The case was filed by Consumer Education and Research Society (CERS) on behalf of a city resident Dipak Sheth on 8 September 2009. The Forum issued its ruling on 22 October 2012. Read more
LIC, HDFC Bank lead advance tax payouts in second quarter
Financial sector companies, led by insurance giant Life Insurance Corporation of India (LIC) and private lender HDFC Bank, have posted a healthy increase in their second quarter advance tax payout belying sluggishness in the economy, reports PTI. Read more
Policy hurdles may make India Asia’s Greece: Aditya Puri, MD & CEO, HDFC Bank
India will miss its best opportunity to fish in troubled international waters and face the spectre of becoming Asia’s Greece if coal, fiscal deficit and land acquisition issues are not fixed, said the chief executive of the nation’s most valuable bank. Read more