The Hindu Business Line : Thursday, December 08, 2005

SBI-TCS venture to offer tech platform to RRBs
THE State Bank of India will offer through C-EDGE Technologies, its newly-formed joint venture with Tata Consultancy Services, an advanced technology platform to regional rural banks as well as other smaller banks. RRBs, which are known to have ... More

OUTSOURCING

Indian banks cannot outsource core functions: RBI
INDIAN banks cannot outsource core banking functions including management of investment portfolio. According to the guidelines on outsourcing of banking activities issued by the Reserve Bank of India today, banks also cannot outsource the work ... More

FOREX

JP Morgan bearish on rupee
THE rupee is expected to remain bearish and see 47.5 by December 2006, a senior official of JP Morgan Chase Bank, said. "The rupee is seen bearish as the trade deficit continues to expand, leading to a worsening of the current account balance, ... More

Rupee sheds 5 paise; securities decline
MUMBAI: The rupee was a tad lower against the dollar on Wednesday on the back of heavy dollar demand. The domestic currency opened at 46.13/15 and touched an intra-day high of 46.08. It, however, dipped to end at 46.23/24, lower than ... More

PRIVATE BANKS

ICICI Bank prices issue at Rs 525
ICICI Bank fixed the price of its domestic issue at Rs 525 per share. It also fixed its American depository shares (ADS) at $26.75, which is approximately Rs 618 per share, said a press release from the bank. The bank fixed a price band of Rs ... More

PUBLIC SECTOR BANKS

SBI upgrades plan to roll out ATMs — We expect explosive growth on this front: Purwar
STATE Bank of India has upgraded its plan to roll out ATMs, scaling it forward to cover a thousand new locations. The country's No 1 bank, which acknowledges that ATMs will soon emerge as an even more powerful delivery channel, intends to ... More

IOB ties up with NCR to set up 150 ATMs
INDIAN Overseas Bank said it would be setting up 150 ATMs in a phased manner. The ATM network will be deployed by NCR Corporation, the bank said in a press release. NCR will also deliver total installation services for the provision and ... More

FINANCIAL INSTITUTIONS

Exim Bank proposes 3 funds for food processing sector
THE Exim Bank of India has recommended three development funds for the expansion of the food processing sector. These include the Agro Export Infrastructure Development Fund (AIDF), Export Market Development Fund (EMF) and Fund for Organic ... More

SHORT TERM INSTRUMENTS

T-bills auctions fully subscribed
THE auctions of the 91-day and 364-day Treasury bills were fully subscribed, according to a press release from the Reserve Bank of India. The notified amount for the 91-day bill was Rs 500 crore. The RBI received 35 bids amounting to Rs ... More

FIXED DEPOSITS

TMB raises NRE, FCNR rates
THE Tuticorin-based Tamilnad Mercantile Bank Ltd has hiked the interest rates on its NRE and FCNR(B) term deposits with effect from December 1. The bank has increased the interest rate on the "One year to below 2 years category" of NRE term ... More

Karnataka Bank raises FCNR, NRE deposit rates
Karnataka Bank has raises interest rates on NRE and FCNR (B) deposit schemes with effect from December 2, according to a bank release here.

BoI hikes term deposit rates
BANK of India has raised interest rates on domestic rupee term deposits with effect from December 1. The interest rates have been increased by 25-50 basis points on various maturities, said a press release from the bank. Senior citizens ... More

TRADE & LABOUR UNIONS

SBT employees on warpath
THIRUVANANTHAPURAM: Close on the heels of the employee unions of the Kerala Circle of State Bank of India (SBI) upping the ante, those of the associate State Bank of Travancore (SBT) have threatened to launch protests against the core ... More

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