The Hindu Business Line : Monday, February 05, 2007

BUDGET
Exempt banks from collecting TDS: CII
To help the banking sector meet the requirement of the fast-growing economy, the Confederation of Indian Industry has stressed on more fiscal reforms in the forthcoming Union budget. The chamber has demanded exemption for the banks from ... More

INFORMATION TECHNOLOGY
Money on the move
A mobile phone account facilitates cash transfer More

Down opportunity lane
The Financial Inclusion project in the banking space spells scope for the IT industry to widen reach and boost revenues. eWorld tracks the scene. More

PRIVATE BANKS
TMB in expansion mode
Tuticorin-based Tamilnad Mercantile Bank (TMB) will be opening nine more branches before the end of March. Of this, seven will be in Tamil Nadu and one each in Andhra Pradesh and Rajasthan. Additionally, three extension ... More

CREDIT MARKET
`Personal' advances of banks under lens
Govt to press for caution on fresh exposures More

FIXED DEPOSITS
More banks cut rates on FCNR deposits
Bank of Baroda and Union Bank have cut interest rates on foreign deposits of various maturities, effective February 1. The interest rate on BOB's NRE term deposits has been slashed to 5.93 per cent (6.33) for a tenure of one year and above but ... More

IOB trims FCNR rates
Indian Overseas Bank has lowered FCNR interest rates with effect from February 1 on foreign currency deposits. Pre-revision rates are given in ... More

M-COMMERCE
Obopay bullish on India
Obopay, a comprehensive mobile payment service in the US, has announced that it is entering the Indian market. It has appointed Mr Aditya Menon — previously CIO at YES Bank — as Chief Information and Technology Officer for India as ... More

OUTLOOK
`Repo rate hike to hit bank profits'
The hike in repo rate and higher provisioning will pinch the bottomlines of banks in the fourth quarter, according to Mr Anantakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd. "It is against this ... More

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