Banking and Finance
Andhra Bank transfers -- AIBEA says issue heading for a `conflagration'
THE All-India Bank Employees' Association (AIBEA) _ to which the All-India Andhra Bank Award Employees' Union is affiliated _ taking up the issue of transfers in Andhra Bank, has issued a stern warning to the bank's management, threatening a `conflagrati on'.

IDBI Bank to enter merchant banking
IDBI Bank proposes to provide merchant banking services and loan syndication in a bid to raise its non-interest income. Currently, the bank's non-interest income amounts to 13 per cent of its total income. It wants to raise this to 20 per cent in the cur rent year.

Retail -- saving private banks
SAVINGS bank (SB) deposits of new private banks grew by a stunning 153 per cent in 1999-2000. SB deposits of six private banks (figures for Bank of Punjab and Centurion Bank were unavailable) grew from a level of Rs. 1,014 crores to Rs. 2,566.67 crores i n 1999-2000. Except IndusInd Bank, which posted a modest 43 per cent growth, the other five banks mopped up twice and more, the deposits they had in the previous year. For the group, savings deposits constituted 6.4 per cent of their total deposits, inch ing up from 4.2 per cent last year.

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