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FINANCIAL SERVICES
Western Union in talks for mobile money transfer
Western Union, has tied up with the GSM Association (GSMA), a global trade association representing over 700 GSM mobile operators, to facilitate cross-border mobile money transfer services, a press release issued here today said. ... More

FOREX
Rupee tracks stock market gains
The rupee closed higher as it tracked the domestic stock market, which closed almost 900 points higher. The rupee opened 10 paise higher at 39.78 and closed at 39.5950/60, about 18 paise higher from the previous close of 39.88. A forex dealer ... More

FINANCIAL PERFORMANCE
SBH Q2 net up 11% at Rs 142 cr
Hyderabad, Oct 23 State Bank of Hyderabad (SBH)’s net profit increased by 11 per cent to Rs 142.38 crore in the second quarter of the current fiscal ended September 30, against Rs 128.75 crore in the corresponding quarter of the previous ... More

NBFCS
‘CV sales slowdown not just due to interest rates’
Financiers cite excess capacity as reason More

PRIVATE BANKS
Kotak Bank’s product for salaried
Kotak Mahindra Bank’s ‘salary 2 wealth’ account has been designed for the present day salaried professional. Launching the product, the bank’s Group Head (Retail Liabilities and Branch Banking), Mr K.V.S. Manian, said the ... More

PUBLIC SECTOR BANKS
Bank of Baroda launches gold coin sales
Bank of Baroda on Tuesday launched the selling of gold coins at its branches. These coins will be available in three denominations of 4 gm, 5 gm and 8 gm and would be available in 141 branches in 80 cities initially. The bank will increase the ... More

Reliance Money ties up with Corp Bank
Offers customers free trading a/c More

SBI opens ATM at Madurai airport
Madurai, Oct 23 The first State Bank of India (SBI) ATM in an airport in Tamil Nadu was inaugurated at the Madurai Airport on Tuesday by Mr M.Suresh, Airport Controller, Airport Authority of India, Madurai Airport.This is also the 100th ATM ... More

Gold coins sales at BoB branches
Bank of Baroda’s seven branches in the Tamil Nadu region, including its main branch in Coimbatore, have been identified for sale of gold coins and bars. The coin sale launch synchronised with the national roll-out today. The bank’s ... More

SBH to make a/c opening simpler
Opening an account with State Bank of Hyderabad branches in the twin cities will be made easier soon. A customer can complete opening of an account within 10 minutes along with an ATM card and cheque book. The bank is in the process of setting up ... More

GOVT BONDS
Bond prices close higher
More

SHORT TERM INSTRUMENTS
Call rates end marginally lower
More

MERGERS & ACQUISITIONS
IDFC picks up 48.4% stake in SMS Shivnath
Mumbai, Oct. 23 IDFC has acquired 48.4 per cent stake in SMS Shivnath Infrastructure Ltd (SSIL), which is a Special Purpose Vehicle (SPV) of SMS Infrastructure Ltd. “Our investment in SSIL is part of an initiative to set up a new ... More

OVERSEAS INVESTMENTS
More Indian banks eyeing presence in Hong Kong
New Delhi, Oct. 23 Invest Hong Kong, an investment promotion agency, expects more Indian companies, especially those in financial services, to locate in Hong Kong in the coming days.There is a pipeline of Indian banks that are looking ... More

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