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ADB grants $20 m for Sikkim tourism
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Sikkim Tourism Department has received a tourism infrastructure development grant of $20 million from the Asian Development bank (ADB) for development of tourism in the State.
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SBH launches new services, products
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As part of its efforts to improve customer service, the State Bank of Hyderabad (SBH) on Thursday launched a SMS-based round-the-clock customer feedback service to resolve grievances and to receive suggestions.
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Islamic financial body in Kerala: petition adjourned to Sept 7
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The Reserve Bank of India was Thursday asked by the Kerala High Court to file by September 7 its counter on a petition challenging an Islamic financial institution in the state on the lines of Islamic banks.
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Now, withdraw Rs one lakh at ATMs; shop for Rs 1.25 lakh a day
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Bank customers can soon withdraw up to Rs one lakh in a single day from ATM machines, and can shop for even an higher amount of Rs 1.25 lakh with their debit cards.
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Punjab & Sind Bank likely to get IAS head
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Unable to find a senior Sikh banker to replace G S Vedi at Punjab & Sind Bank, the finance ministry has begun the search for an IAS officer to be appointed as the Delhi-headquartered bank’s chairman & managing director.
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Birla Sun Life MF inks distribution pact with Oriental Bank
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Birla Sun Life Mutual Fund (BSLMF) and Oriental Bank of Commerce (OBC) have signed an MoU for a strategic alliance, whereby the bank will distribute and market BSLMC's mutual fund products through its branches.
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NFS banks to pay 80 paise per ATM transaction
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Banks on the National Financial Switch (NFS), the largest ATM network in the country, will now have to pay a fee of 80 paise per transaction. The move is, however, unlikely to change ATM withdrawal charges for customers.
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Indians wary of sovereign Africa funds, finds survey
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Despite a large pool of funds, India views sovereign wealth funds (SWFs) of many African countries like Nigeria, Libya, Botswana and Algeria with caution, says a survey.
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PMO rejects FinMin proposal on bank chief appointments
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The Prime Minister’s Office (PMO) has turned down a finance ministry proposal to allow bankers with less than two years of residual service to be appointed as public sector bank chiefs.
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Bank stocks revive on move to ease liquidity
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Bank stocks saw a revival of sorts as the central bank yesterday announced steps to ease liquidity conditions. The BSE Bankex rose 2.55 per cent, the most among sectoral indices.
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Tripura to act against unauthorised non-banking bodies
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The Tripura government Wednesday decided to take action against unrecognised non-banking financial institutions (NBFIs) which are collecting deposits from people violating the Reseve Bank of India (RBI) guidelines.
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StanChart to infuse $50m in brokerage arm
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Standard Chartered has said it will infuse $50 million in subsidiary UTI Securities after acquisition of the remaining stake of close to 26 per cent by the third quarter of 2010.
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Opposition accuses Tripura CM of encouraging cheat fund
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Leader of the opposition Ratan Lal Nath accused Tripura Chief Minister Manik Sarkar of encouraging dubious Non Banking Financial Institutions (NBFI) who were blacklisted by Reserve Bank of India (RBI) and Security and Exchange Board of India (SEBI) by attending their different programme.
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ICICI Bank approves amalgamation of Bank of Rajasthan
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ICICI Bank approved the amalgamation of Bank of Rajasthan with it for a share exchange ratio of one share of ICICI Bank for every 4.72 shares of Bank of Rajasthan.
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Standard Chartered bank sets IDR at Rs.100-115
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Standard Chartered PLC has fixed the price band for its proposed 24 crore Indian Depository Receipts (IDRs) at Rs.100-115 each.
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Hinduja buys Luxembourg bank for $1.7bn
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The Hinduja Group on Friday said that it has entered into an agreement to buy KBC Groep NV's private bank for 1.35 billion euros ($1.69 billion or Rs 8,770 crore) to expand its wealth-management business in Europe.
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Tripura govt launches investigation against NBFIs
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The Tripura government has asked the CID to launch investigation against mushrooming of Non Banking Financial Institutions (NBFI), which were allegedly doing business without due recognition from the Reserve Bank of India (RBI).
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RBI authorises banks to collect income tax
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Considering the heavy rush of income tax remittance toward the end of March, June, September and December, the Reserve Bank of India (RBI) has authorised some of the bank branches in Guwahati to accept payment of income tax dues in cash or by cheques.
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Action demanded against private finance firms
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Hundreds of people involved in multi-level marketing (MLM) of various consumer products, affiliated to Networkers Welfare Association (NWA), observed a fast in front of the Railway Station here on Tuesday.
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Bank of Rajasthan to merge with ICICI Bank
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Bank of Rajasthan, one of the oldest private sector banks in the country, on Tuesday announced that it would merge with the largest private sector bank, ICICI Bank.
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City Union Bank expects 30 percent deposit, credit growth
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Tamil Nadu-based City Union Bank is expecting 30 percent growth in credit and deposit this fiscal, a top bank official said here Monday.
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RBI to come out with a report on food inflation
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Reserve Bank of India (RBI) Deputy Governor Subir Gokarn said the bank would come out with a report on food inflation in a few weeks time.
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Shortage of coins in Kolhan, Chamber writes to RBI
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The Kolhan region consisting of three districts of East Singhbhum, West Singhbhum and Seraikela-Kharswan is facing acute shortage of coins of various denominations.
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Overwriting on cheque? Time to underwrite a Rs 500-fine
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You now need to be more alert while issuing a cheque. Even a single spelling or numeric mistake can cost you up to Rs 500.
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Red fear stops banks’ expansion in Jharkhand
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The Centre has admitted that bankers fear to open branches in the Maoist-affected areas of Jharkhand. According to a reply by the Finance Ministry in Rajya Sabha, the Government admitted that out of the 210 blocks in the State, 10 have only one bank and five blocks are un-banked.
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