South Indian Bank largest service provider for pension scheme

September 30th, 2009 Ohio AG takes lead role in Bank of America lawsuitCOLUMBUS, Ohio — Ohio has taken the lead role in an aggressive securities lawsuit alleging that Bank of America Corp. concealed billions of dollars in losses and bonuses paid during the bank's merger with Merrill Lynch.

September 22nd, 2009 MUMBAI - The scrip of telecom major Bharti Airtel fell about 3 percent on the Bombay Stock Exchange (BSE) on reports that the company may have to further sweeten its offer for South African telcom company MTN. According to reports, Bharti has offered MTN a 27 percent of its stake for the same money instead of the 25 percent proposed earlier.

September 22nd, 2009 MUMBAI - The scrip of telecom major Bharti Airtel fell 3.28 percent on the Bombay Stock Exchange (BSE) at end of trade Tuesday following reports that the company may have to sweeten its offer for South African telecom company MTN. According to reports, Bharti has offered MTN a 27 percent of its stake for the same money instead of the 25 percent proposed earlier.

September 11th, 2009 KOLKATA - India's pension regulator has called for attractive incentives for collection agents in a bid to popularise the new social security scheme as they are the main point of contact between the subscriber and the pension fund. "Incentives are needed as there is no provision for commission under the recently launched NPS (New Pension Scheme)," said Praveen Kumar, executive director of Pension Fund Regulatory and Development Authority executive director here Friday.

August 19th, 2009 AIZAWL - The Asian Development Bank (ADB) will give a $100-million loan to India's northeastern state of Mizoram for strengthening service delivery in the social sector, officials said here Wednesday. "Under the Mizoram Public Resource Management Programme (MPRMP), the ADB credit would be utilised for strengthening service delivery in the education and health sectors," Vanlalruata, additional secretary at the state finance department, told reporters.

July 22nd, 2009 NEW DELHI - The country's telecom watchdog has sought the views of the industry stakeholders on mobile number portability (MNP) charges that will help decide what service providers and a customer should pay for switching operators. MNP once implemented will allow subscribers to retain their existing mobile number when they switch from one service provider to another or from one technology to another of the same service provider.

July 17th, 2009 Union sets strike vote on Barclays pension closureLONDON — Britain's Unite union said Friday it will ask members to vote next month on whether to strike against Barclays Bank because of the proposed closure of a final salary pension plan. The union, which represents 25,000 employees of the bank, said walkouts would be staged in September if members approve the strike call.

July 2nd, 2009 CHENNAI - Expressing satisfaction over pension sector reforms, the government in its Economic Survey 2008-09 has said the new pension system (NPS) will be offered to more segments. "Efforts are underway to extend the NPS to new segments (autonomous bodies, state governments and unorganised sector) and introducing micro-pension initiatives," said the survey tabled in parliament Thursday.

June 9th, 2009 NEW DELHI - Bharti Airtel, one of India's leading telecom service providers, has been adjudged the best service provider in the Asia-Pacific region by telecom research and consultancy firm Frost and Sullivan. The company has bagged top honours for overall service quality and has been adjudged the service provider of the year in the "Best of the Best" category, Airtel said in a statement Tuesday.

May 2nd, 2009 NEW DELHI - The Election Commission Saturday asked the Pension Fund Regulatory and Development Authority (PFRDA) to explain why its advertisement of the New Pension Scheme' had been different from the version for which the poll panel had given permission. The poll panel asked the pension authority to explain the deviation and non-compliance with the panel's order for the advertisement which appeared in the Hindu newspaper.

May 1st, 2009 NEW DELHI - A new voluntary pension scheme came into force in India Friday with young people as its main target, and hoped to reach out to the 87 percent of the nation's workforce that remained uncovered by any retirement benefit. The Pension Fund Regulatory and Development Authority has extended the scheme on May Day to all citizens, after introducing it for fresh recruits of the central government since Jan 1, 2004.

May 1st, 2009 CHENNAI - Life insurers are depending on their strong distribution network to stave off the competition challenge posed by the cheaper National Pension Scheme (NPS) that was launched Friday. Even though the fund managers for NPS will charge only 1 paise per Rs.100 (0.0009 percent) as service charge, comparing to 2.5 percent on the fund value charged by life insurers, the latter do not expect drastic reduction in sales, industry officials said.

February 27th, 2009 HYDERABAD - The women of Andhra Pradesh had set an example for empowerment of women all over the world, United Progressive Alliance (UPA) chairperson Sonia Gandhi said here Friday and added that she was 'moved and satisfied' by how they were inspiring others. Inaugurating a pension scheme for members of women's self help groups (SHGs), Gandhi said she was proud of the achievements of the women of the state.

February 26th, 2009 KOCHI - The South Indian Bank, one of the oldest banks in south India, will collect insurance policy renewal payments on behalf of ING Life, part of the ING Group, it was announced Wednesday. Customers of ING Life can now pay their policy renewal premium at any of the 530 South Indian Bank branches spread across the country.

February 15th, 2009 NEW DELHI - The government Monday announced two new pension schemes for widows and physically disabled in the interim budget 2009-10. The Indira Gandhi National Widow Pension Scheme will provide a pension of Rs.200 to widows in the age group of 40-64, while the Indira Gandhi National Disability Pension Scheme aims to provide pension to 'severely disabled persons', acting finance minister Pranab Mukherjee said in his budget speech in parliament.