Banking and Finance
`Evolving card market has room for more players'
ABN Amro hopes to complete its suite of products with a credit card launch in 2001. Is not the bank rather late in the market? ``In an emerging and evolving market, nobody is deterred by existing market shares which are a consequence of legacies -- small
markets and early entry. We believe we can shift the market. Nobody is late,'' says a confident Mr Romesh Sobti, Chief Executive, ABN Amro India.
7-day banking
IF you thought nationalised banks were offering 7-day banking services to respond to the threat from new private banks, it may not be so. One branch manager at a nationalised bank would have you believe that the motive is entirely altruistic. He dismisse
s the threat because ``nationalised banks are well-established!''.
Profitable recovery!
TALKING about NPAs, our bankers are very busy these days recovering their NPA accounts. Now that IBA has come out with guidelines for NPA accounts, banks are busy keeping their date with their defaulters. One banker in a nationalised bank says that this
year will be good for most banks. Mind you, it has nothing to do with the margins. It's just that every bank is busy with recovery, which has added up to profits, he confides!
Cancard recovery drive digs up bad, old accounts
CANARA Bank's Cancard division is taking a good look at bad, old accounts. Cardholders who have not paid up for over six months are being pulled up by the bank.
Geojit Sec launches online interface with HDFC Bank
GEOJIT Securities on Tuesday launched its online interface with HDFC Bank for Internet trading.
NRI property demand rising: HDFC official
THE demand for property among NRIs has gone up in the first six months of the current fiscal year due to an upswing in the real estate market and low interest rates.
IndusInd to enter e-com, m-banking
KOCHI: IndusInd Bank Ltd (IBL) would commence e-commerce activities and mobile banking during the current fiscal.
Federal Bank raises FCNR (B) rates
KOCHI: The Aluva-based Federal Bank has increased the interest rates on US dollar FCNR (B) deposits to 7.25 per cent, irrespective of the period and size of the deposit.
BoB signs up as DP
MUMBAI: The Bank of Baroda (BoB) has signed up to be a depository participant with Central Depository Services (India) Ltd (CDSL).
Insurance
New India computerisation drive
MUMBAI: The New India Assurance Company Ltd has embarked on computerisation of another 500 offices as a step towards better customer services.
