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Saturday, April 08, 2006
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INFORMATION TECHNOLOGY


ATMs cushion impact of indefinite SBI strike
Fully stacked machines, partner network prove big help More

FINANCIAL SERVICES


TT Forex to open 21 new offices
TT Enterprises, a member of the TTK Group, has re-entered the retail foreign exchange business after having exited from it about five years ago. It plans to expand its network of offices in the next six months to a total of 30 from the current ... More

FOREX


Forex reserves vault by $2.96 b
The foreign exchange reserves have soared by $2.96 billion due to dollar buying by the central bank. The forex reserves have touched a record $151.62 billion for the week-ended March 31. In the previous week, the reserves had increased by $2.5 ... More

PUBLIC SECTOR BANKS


Corporation Bank for cross-selling
Corporation Bank will lay greater emphasis on cross selling of its products to its savings bank account holders in the days to come, according to Mr B. Sambamurthy, Chairman and Managing Director of the bank. A bank release, ... More

SBI strike hits tea auctions
Tea trade sources in Coonoor contend that nearly Rs 6 crore worth of instrument transactions remain blocked in various banks because of the strike of the employees of State Bank of India. For the auctions that took place on Friday, the ... More

FOREIGN BANKS


Italian bank sets up rep office
Monte dei Paschi di Siena, the oldest bank in the world, has set up a representative office in Mumbai. The parent company of the MPS group hopes to target the Italian companies that operate in India. According to a press release, the ... More

CREDIT MARKET


SME ratings yet to catch on, say bankers
Rated units get lower-cost loans, merit faster processing More

FIXED DEPOSITS


SBT hikes NRE, FCNR deposit rates
State Bank of Travancore (SBT) has announced an increase in its interest rates on NRE term deposits and FCNR deposits with effect from April 2. According to an SBT press release, the revised interest rate on NRE term deposits ... More

TRADE & LABOUR UNIONS


Kanara chamber plea on SBI stir
The Kanara Chamber of Commerce and Industry (KCCI) has urged the Union Finance Minister, Mr P. Chidambaram, to resolve the problems being faced by small-scale industries due to the indefinite strike by the employees of State Bank ... More

Cheque clearing volumes drop
The volume of cheques cleared by the Reserve Bank of India in Mumbai alone fell from around over 10 lakh on April 3 to about 6 lakh on April 5, mainly because State Bank of India's cheques had to be returned due to indefinite strike by SBI. On ... More

Strike power
STALEMATE CONTINUES: The indefinite strike by State Bank of India employees entered the fifth day on Friday. Talks to end the strike have not made much headway so far. ... More


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Forex reserves vault by $2.96 b

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In Depth

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Looking back
Mar. 26-Apr. 1
Bond traders bet on yields rising further

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Conduct code for banks selling OTC derivatives

Treasuries portfolio to drag down banks' profitability



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