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Future Enterprises to raise Rs 3,000 cr from insurance biz sale; aims to pare debt, avoid insolvency

Debt-ridden Future Group firm Future Enterprises Ltd expects to raise around Rs 3,000 crore from selling its stake in the insurance business to pare debt, which may save the company from facing the rigour of the insolvency process, according to industry sources. Earlier on Thursday, Future Enterprises Ltd completed

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Public sector general insurers may get capital infusion of Rs 3,000-5,000 crore

The government may infuse Rs 3,000-5,000 crore additional capital in the three public sector general insurance companies based on their performance and requirement during the year, sources said. The capital infusion would help improve the financial health of the general insurance firms -- National Insurance Company Limited, Oriental Insurance

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Central Bank of India says not yet decided on branch closures

State-owned Central Bank of India has not yet decided on a possible extensive branch closure plan this fiscal year, the lender said on Saturday days after Reuters reported it planned to shut some branches to improve its financial health. On Thursday, Reuters cited sources and a document saying the bank

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