Banking and Finance
Bank of Baroda meet on credit for poor
CALCUTTA: Bank of Baroda (BoB) has organised a meeting with the help of Pujali Municipality, Nabard and La Martiniere SEOMP Society to evolve supplementary credit strategy for reaching the poor to build up mutual trust and confidence between the bank and
the poor and encourage banking activities for both thrift and credit.
Bank unions divided over strike call
MUMBAI: The voluntary retirement scheme (VRS) and the scheme for sabbatical leave prepared by the Indian Banks' Association and recently approved by the Government have created discontent among the constituents of the United Forum of Bank Unions (UFBU).
Bank of Punjab set to go tech-driven
BANK of Punjab today announced a slew of initiatives for the future including plans to enter the credit card business, setting up B2B and B2C portals and the introduction of online trading.
No talks on VRS: SBI Staff Fed
THERE has been no discussion between the All India SBI Staff Federation and the State Bank management on the implementability of the employees' voluntary retirement scheme (VRS), according to Mr Ashok Datta, Assistant Secretary of the Federation.
Second batch of RBF refund cheques soon
RBF Nidhi Ltd plans to begin despatching to its depositors cheques towards the second instalment of repayment from the first week of October.
Dena Bank plans strategic alliances
DENA Bank plans strategic alliances with one or more new private sector banks, for operations in areas such as co-branded credit card, debit card, demat accounts and joint credit offerings, the bank's Chairman and Managing Director, Mr A.G. Joshi, said.
ICICI launches Billjunction.com
ICICI Ltd on Tuesday launched its online bill presentment and payment service, Billjunction.com, in Delhi, which does not require a customer to open a bank account in any specific bank to avail of the online facility.
IRDA likely to grant first licences by Diwali
THE Insurance Regulatory and Development Authority (IRDA) is likely to grant the first set of licences for setting up private sector insurance companies by Diwali this year, the Minister of State for Finance, Mr Balasaheb Vikhe Patil, said here.
HDFC renames realty portal
THE Housing Development Finance Corporation (HDFC) today announced the buying of a small local portal specialising in home improvement advisory services to buyers of property and said it would integrate this site to its main property portal, HDFCrealty.c
om.
Catholic Syrian's 3-pronged strategy to boost profits
IN its bid to boost business volumes and profitability, the Thrissur-based Catholic Syrian Bank has evolved a three-pronged strategy concentrating on profit maximisation, increasing the quality of assets and reducing the cost of deposits.
RBI offers life belt for PDs
QUALITATIVE changes in the money market continue with the RBI introducing an intra-day fund facility to help out banks and primary dealers (PDs) stuck in intra-party trades. The RBI prefers to call it a special funds facility to avoid gridlocks
in security settlement and will not be providing extra funds to traders.
Mutual Funds
New registrar for SBI Mutual Fund scheme
MUMBAI: SBI Mutual Fund has decided to change the registrar and transfer agent under its balanced fund - Magnum Balanced Fund.
