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The joint venture between Tata Sons and the American International Group — Tata AIG General Insurance — is all set to launch a swing of motor insurance products in the next few months and has filed 10-12 products for approval from Insurance Regulatory Development Authority of India (IRDA). The company is hoping to introduce the … Read more Tata AIG’s new motor insurance products
Sensing a demand picking up in the near future, the Tatas-controlled commercial vehicle (CV) giant Tata Motors has inducted around 1650 temporary workers at its CV plant at Jamshedpur. The company has last year laid off 700 temporary workers at the CV facility in view of a setback in demand. The recruitment follows decent sales … Read more Tata Motors steps up recruitment at Jamshedpur plant
Highlights of the Discussion The bank plans to increase its advances by focusing on midcap and SME businesses. The bank does not plan to invest in following sectors in the slow economic scenario: gems & jewellery, textile, leather and auto ancillary. For the future, the bank’s focus would be to reduce its cost income ratio, … Read more Development Credit Bank – DCB Focus on reducing retail asset portfolio
Highlights The revenue of the company during the quarter ended December 2008 increased by 15.2% to Rs 79.86 crore as compared to the corresponding quarter of the previous year. However during the quarter the company witnessed significant increase in power & fuel cost as well as the freight cost. The power & fuel cost increased … Read more Sagar Cement – Production for the next fiscal is expected to be 2.25 million
Apex body Telecom Regulatory Authority of India (TRAI) will submit its recommendation on lock-in period requirements of promoter’s equity for Unified Access Service (UAS) licensees this month to the Department of Telecommunication (DoT). The body has completed the consultation process and will submit its recommendations in the next two to three weeks. DoT has a … Read more TRAI to come up with promoters lock-in period this month
The government is contemplating to frame new guidelines for repossession of vehicles by banks and financial institutions in case of delinquencies by borrowers. In recent times, the interlinking conflict between the auto industry and the banking industry has emerged as the banks have become reluctant and tightened their procedures for vehicle financing impacting impacted auto … Read more Govt to frame anti-consumer vehicle repossession guidelines