Biz Briefs

Private The State Bank on Friday said its general insurance foray, in a joint venture with Insurance Australia Group (IAG), will commence operations in the first half of next year.

The Reserve Bank has turned down an application of broking house Asit C Mehta
Financial Services to enter the market as a non-banking finance institution.

Power trading firm PTC India on Friday said it is planning to list its financial services arm — PTC India Financial Services Ltd (PFS) — on exchanges and a public issue is likely to be floated by the next fiscal.

Anil Ambani group firm Reliance Infrastructure today said its consortium has bagged a project worth Rs 1,725 crore for building roads in Maharashtra from the National
Highway Authority of India.

Insurance agents staged a dharna in Mumbai protesting a Centre-appointed panel;s recommendations to do away with their upfront commission by 2011.