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Editor's Desk Private insurance major ICICI Prudential Life Insurance has entered into an agreement with public sector lending major – Punjab National Bank (PNB) – to facilitate premium payments through the bank. This is the first of its kind tie-up between a private sector insurer and a state-run bank. As per the deal, the customers of ICICI … Read more ICICI Prudential Life inks pact with PNB for premium payments
We expect business conditions for Indian banks to get tougher given decelerating credit demand, falling margins and worsening asset quality (NPAs to rise 3x over FY09-11). Among banks, we prefer ICICI Bank, Axis, PNB, BoB and UBI for their cautious asset growth, ample NPA coverage and sizeable CASA base. After deflation through most of FY10, … Read more Indian Banks Environment to turn tougher
GMR Infrastructure Ltd has informed BSE that GMR Holdings Pvt. Ltd (‘GHPL’), promoter and holding Company of GMR Infrastructure Ltd (“the Company”) has purchased 38,00,000 on March 20, 2009 Equity Shares of Rs 2/- each through open market purchase in normal segment on the Stock Exchanges. Consequent to the aforesaid acquisition of 38,00,000 Equity Shares, … Read more GMR Promoters Raise stake to 74.71%
BHEL’s project site at Jhajjhar, Haryana is a large 1,500 MW site (three units of 500 MW each). It belongs to the Aravali Power Co., 51% owned by the National Thermal Power Corp. (NTPC), 25% by the Haryana government. This project has been fast-tracked since it is expected to start supplying electricity in time for … Read more BHEL exhibits confidence on execution of Aravali Power
HP today launched new storage virtualization solutions – StorageWorks Enterprise Virtual Array 6400 and 8400 (EVA6400/8400) and the enhanced SAN Virtualization Services Platform 2.1 (SVSP 2.1) that change the economics of customers’ infrastructures by reducing costs and better leveraging existing technology investments. Technology plays a major role in determining an organization’s success before, during and … Read more HP launches storage virtualization solutions – Virtual Array 6400 and 8400
The Reserve Bank of India on Monday fixed the reference rate for the dollar at Rs 50.52, as compared to the previous rate of 50.14 on Friday. The corresponding exchange rate for the euro was Rs 69.11 (Rs 68.39) and that for the UK pound was 73.5647 (Rs 72.4222). The reference rate for the Japanese … Read more RBI Forex reference rate for the dollar at Rs 50.52 on Monday