India's second largest lender ICICI Bank is poised to make significant investments on technology and manpower in the next five years to serve four major booming businesses -- corporate, SMEs, wealth management and rural and agriculture.

Finance Minister P Chidambaram has approved 22 foreign direct investment (FDI) proposals totalling Rs 896 crore, including major investments by Singapore-based Solitaire Capital and UK-based Alpha Airports. The company will accept foreign contributions through the venture capital fund route to make investments in real estate development projects.

Mumbai, October 4, 2006 - Life Insurance Corporation of India (LIC) will invest Rs 47,500 crore in government debt in the fiscal year through March 31, chairman T S Vijayan said in Mumbai. The state-owned insurer has bought debt securities worth Rs 17,670 crore so far this fiscal year, he said in Mumbai on Tuesday.