MONEY & BANKING
FARM CREDIT
Union Bank to lend more for agriculture
UNION Bank of India has chalked out several schemes for agriculture sector in addition to those firmed up in close association with the Indian Banks' Association (IBA), the bank's Chairman and Managing Director, Mr V. Leeladhar, has said. Mr ...
More
FOREX
Rupee weaker; bonds up 50 paise
MUMBAI: The Indian currency extended losses yet again for the second consecutive session on Monday to close at 46.39/41 against the dollar, weaker about 10 paise from previous close. The rupee had ended at 46.31 on Friday. Although the ...
More
INFORMATION TECHNOLOGY
One step closer to T+1 settlement — Banks can use RTGS for customer deals
THE Reserve Bank of India has said that the Real Time Gross Settlement system has been enabled for `Straight Through Processing' at the bank's end for putting through customer transactions. This will enable banks to directly credit the ...
More
SBT offers RTGS facility
THIRUVANANTHAPURAM: The State Bank of Travancore (SBT), which went live with Real Time Gross Settlement (RTGS) on high-value bank-to-bank remittances in July this year, has now started offering this facility to its customers, says a bank ...
More
HOUSING FINANCE
HDFC to sell 50 pc in Intelenet to Barclays Bank
HDFC today announced that it would be selling 50 per cent stake in its BPO venture, Intelenet Global Services, to Barclays Bank Plc for Rs 164 crore, subject to regulatory approvals. It was less than a month ago — on July 21 — that ...
More
FINANCIAL POLICY
Govt spells norms on 2 retiring staff schemes interest
THE Finance Ministry on Monday spelled out the interest treatment on the accumulations in two of its deposits schemes — the Deposit Scheme for Retiring Government Employees, 1989 and the Deposit Scheme for Retiring Employees of Public ...
More
HUMAN RESOURCES
Staff transfers needed for rural schemes: IBA chief
THE Chairman of the Indian Banks' Association (IBA), Mr V. Leeladhar, has appealed to the unions and associations of the bank staff and officers to immediately withdraw the proposed nation-wide strike on August 24. He urged them to extend ...
More
Banks cast the net for agri officers
Some banks are picking up agri graduates from the campus on a contract basis and some others on an experimental basis for 3 to 6 months.
More
PRIVATE BANKS
Chidambaram visits Karnataka Bank
IN his endeavour to ensure agriculture credit flow to farmers in various States, the Union Finance Minister, Mr P. Chidambaram, visited Srirangapatna branch of Karnataka Bank on Saturday during his tour of Karnataka. A bank release said here ...
More
PUBLIC SECTOR BANKS
`IOB not averse to inorganic growth'
"INDIAN Overseas Bank is not averse to inorganic growth. But we will not approve a merger for the sake of unification. It should add to our bottom line. We will be selective and ensure that our fundamentals do not turn weak," the bank's Chairman ...
More
SBI Kerala Circle draws up special farm credit plans
SBI Kerala Circle, which has increased the credit-deposit ratio by more than nine per cent, has drawn up special programmes to finance farmers through the Vegetable and Fruit Promotion Council Keralam (VFPCK) for financing in Agri-Export ...
More
Syndicate Bank to step up farm credit
INVESTMENT credit in agriculture sector, which has come down in the last two decades, needs to be increased to increase farm productivity, according to the General Manager of Syndicate Bank, Mr B. Pramod. Addressing a branch managers' ...
More
Infrastructure, power sectors — PSBs seek relaxation in group exposure norms
PUBLIC sector banks have sought a relaxation in the sector and group exposure norms to expand term loan portfolios for the infrastructure and power sectors. Sources said that unless the limits are liberalised further, it would be difficult for ...
More
Bank of Maharashtra tightens vigilance regime
THE Bank of Maharashtra Chairman, Mr S.C. Basu, has issued a directive that makes regular credit audit mandatory for all credit accounts over Rs 25 lakh as against the existing rule where such audits are necessary only for credit accounts of ...
More
SSIs: Canara Bank Madurai circle advances higher
THE Madurai Circle of the Canara Bank, among the 13 circles in the country, has secured the second position, next only to Delhi, in the assistance to the small-scale industries (SSI) sector. The circle, with 240 branches and spread over 12 ...
More
FINANCIAL INSTITUTIONS
APSFC okays 54 projects
HYDERABAD: The Andhra Pradesh State Financial Corporation (APSFC) has given in-principle approval to 54 projects involving financial assistance of Rs 75.19 crore at an entrepreneur awareness campaign organised here on Monday. During the ...
More
CREDIT CARDS & DEBIT CARDS
IA rules out immediate hike in fares — Launches co-branded card
INDIAN Airlines (IA) has ruled out any immediate hike in airfares despite an increase in fuel costs. However, fares could go up in a few months if the fuel prices continue on an uptrend, the Chairman, Mr Sunil Arora, said here on Monday. "The ...
More
FIXED DEPOSITS
IOB to pay more on bulk deposits
INDIAN Overseas Bank will pay 25 basis points (0.25 per cent) above the normal rates, for bulk deposits of Rs 5 crore and above for periods of 91 days and above. The revised rates come into effect from August 16. The normal rate for deposits ...
More
MERGERS & ACQUISITIONS
Merger of strong PSU banks `very soon'
In what could spark off a complete overhaul of the banking structure in the country, the Government appears to be working on catalysing the first merger between two strong public sector banks. Senior Finance Ministry officials said that an ...
More
REGULATORY BODIES & RULINGS
Insurance regulator in favour of PFMs using index funds
THE proposal that pension fund managers (PFMs) must start using index funds once the pensions sector is opened up has found support from altogether different quarters - IRDA. The Insurance Regulatory and Development Authority has strongly ...
More
CO-OPERATIVES
UCBs want RBI to revert to 180-day norm for NPAs
THE Maharashtra State Co-operative Bank's Association will soon request the Reserve Bank of India to allow urban co-operative banks (UCBs) to revert to the 180-day norm for accounting for non-performing assets. Mr Gulabrao Shelke, Chairman, ...
More
Cross Currency Rates
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds