The Hindu Business Line : Tuesday, December 13, 2005

Aviva plans to shift 3,500 BPO jobs
EUROPEAN insurer Aviva Plc proposes to step up its outsourcing initiatives and is sending around 3,500 more business process outsourcing (BPO) jobs to India by 2007-08. Sources at Aviva Offshore Services said the new jobs being outsourced by ... More

INSIGHT

RBI's Report on Currency and Finance 2004-05 — Banks must compete, consolidate and converge
The RBI Report on Currency and Finance 2004-05 highlights the challenges facing the banking sector, which requires infusion of new technologies, better processes of credit and risk appraisal, product diversification, robust internal controls and cor porate governance, and efficient human resource management. Competition, consolidation and convergence will be the key drivers of the sector in the years to come, says S. D. Naik. More

FOREX

IMD redemption unlikely to impact liquidity: Rakesh
THE Deputy Governor, Reserve Bank of India, Dr Rakesh Mohan, on Monday said the central bank did not see any major impact on account of the redemption of India Millennium Deposits (IMD). "We are fully prepared for IMD redemptions. Arrangements ... More

Rupee gains; bonds fall on liquidity worries
MUMBAI: The rupee gained against the US dollar on Monday as it tracked the euro. Good inflows into the domestic equity markets also helped the Indian currency strengthen, said dealers. The euro had strengthened on Friday due to which ... More

INFORMATION TECHNOLOGY

UCO Bank chooses H-P for core banking solution
UCO Bank has selected Hewlett-Packard India Sales Pvt Ltd (HP) to implement and manage a centralised core banking solution for five years. The pilot project will take off in January 2006 and, by March 2007, the project will be rolled out in ... More

NBFCS

Bajaj Auto Finance to raise Rs 950 cr
BAJAJ Auto Finance Ltd on Monday informed the BSE that its board has decided to raise resources up to Rs 950 crore through the issue of various instruments such as equity shares, non-convertible debentures and warrants on a rights basis to its ... More

NBFCs have to rotate auditors
MUMBAI: Non-banking finance companies and residuary non-banking finance companies with public deposits of Rs 50 crore and above should rotate their auditors every three years, said the Reserve Bank of India in a notification issued on ... More

PUBLIC SECTOR BANKS

Union Bank hikes FCNR, NRE rates
MUMBAI: Union Bank of India has increased the interest rates on FCNR (B) and NRE (rupee) term deposits with effect from December 7, according to a press release from the bank. ... More

Written-off NPA recoveries to help beef up PSBs' profits — Higher dividend for this year on cards
PUBLIC sector banks are preparing to fork out higher dividends this year with bottom-lines boosted by high recoveries of non-performing assets (NPAs). Bankers said each of them expected to make recoveries upwards of Rs 750 crore this year. ... More

Canara Bank disburses Rs 35-cr farm loans
THE Mangalore Circle of Canara Bank, which has an agricultural clientele base of 16,000 in Dakshina Kannada and Udupi districts, has disbursed Rs 35 crore agricultural loans in these districts till date during current financial year. The bank ... More

FOREIGN BANKS

`Indian economy to grow 7-8 pc'
NEW DELHI: The Indian economy should grow at 7-8 per cent during fiscal 2006-07, according to a research by American Express Bank. An Economic Outlook research report has said that stabilisation or further fall in oil prices should also ... More

Deutsche Bank plans to tap the affluent sector
DEUTSCHE Bank, which has recently flagged off retail services in India, has proposed to tap the affluent market through a number of products and services, including salary overdrafts and loans. The bank, which plans to add Delhi, Gurgaon and ... More

CREDIT MARKET

Farm credit package in the offing?
MR SUKHJIT Singh, who retired as Director, Agriculture, of the Punjab Government, is a leading agriculturist in the Jalandhar-Hoshiarpur belt and is representative of a small but growing community of farmers who believe that the agricultural ... More

CREDIT CARDS & DEBIT CARDS

Debit card usage growing fast
Already, a critical part of all payments is by way of debit cards, while at a more micro level, nearly 30 banks have issued Visa cards. More

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Debit card usage growing fast

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Bajaj plans fresh bike, scooter rollouts in 2006

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