MONEY & BANKING
Diebold sees 25 pc growth in managed services biz
WITH the demand for ATMs expected to grow by 5000 annually, Diebold Systems expects the contribution from its managed services business to increase to 25 per cent of its overall revenues by next year. The company already has a market share of ...
AWARDS & HONOURS
Corporation Bank bags award
CORPORATION Bank has won the "Best Bank Award for Delivery Channels" from the Institute for Development and Research in Banking Technology (IDRBT). A bank release said here that the Governor of Reserve Bank of India, Dr Y.V. Reddy, presented ...
Securities rally; rupee in range
MUMBAI: Bond prices rallied by over one rupee across maturities on Friday, as the inflation figures for the week-ended August 14 came in at 7.94 per cent, as against 7.96 per cent in the first week of August. Dealers said although some ...
Bajaj Allianz in pact with I Guru
BAJAJ Allianz Life Insurance Company Ltd has tied-up with I Guru, the self study online portal for insurance agents' training developed by C&K Management, according to a press release by the latter here. The release said the Insurance ...
SMS facility from E-Meditek
NEW DELHI: E-Meditek Solutions Ltd (EMSL), a third party administrator (TPA) in the health insurance sector, has introduced SMS (short messaging services) facility for enquiries on health insurance claims and status of identity cards. ...
KSFC inks pact with IFFCO
BANGALORE: The Karnataka State Financial Corporation (KSFC) has signed the corporate agency agreement with IFFCO Tokio General Insurance to further strengthen marketing non-life products. KSFC had diversified its activity into ...
RBI & OTHER CENTRAL BANKS
RBI prescribes norms for loans against NRI deposits
A copy of the passport of NRI should also preferably accompany the application for loan against NRI deposits.
Dhanalakshmi Bank goes RTGS
KOCHI: The Thrissur-based Dhanalakshmi Bank has gone live on RTGS (real time gross settlement) for inter-bank transactions. Mr T.R. Madhavan, Managing Director and Chief Executive Officer, Dhanalakshmi Bank, said, "By introducing RTGS, ...
TMB extends working hours
MADURAI: TAMILNAD Mercantile Bank has extended its business hours by an hour and half. The bank has also taken several initiatives to improve service to its customers. ...
Karnataka: Borrowing via SPVs to exceed Rs 2,000 cr
KARNATAKA'S borrowing through special purpose vehicles (SPV) for the current fiscal year is estimated to be in excess of Rs 2,000 crore this year. High-level officials said that the larger borrowing estimates were on account of the incremental ...
MERGERS & ACQUISITIONS
CARSL becomes Cholamandalam arm
`Banking sector heading for consolidation'
THE Indian banking sector is heading for a consolidation but the existing banking regulatory framework in the country ensures that there is little room for banks' failures, Mr M. Damodaran, Chairman and Managing Director of the Industrial ...
Indiabulls sees consolidation in financial market
INDIABULLS Financial Services Ltd, which is going public on September 6, is expecting major consolidation in the Indian financial market over the next two to three years. In future, the top few players will account for almost 80 per cent of ...
Rising gilt yields: Urban co-op banks want RBI's intervention
EVEN as the Reserve Bank of India grapples with ways to ease the impact of rising yields on commercial banks, another major segment of the financial sector is craving for the central bank's attention on the same count. The Urban Cooperative ...
Cross Currency Rates
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