Banking and Finance


FIs must become universal banks, says RBI Governor
DEVELOPMENT financial institutions (FIs) will have to transform themselves into integrated service providers and recommend suitable measures for bringing about greater stability and smoother transition to the right mix of business, Dr Bimal Jalan, Govern or, Reserve Bank of India, has said.

OBC board okays VRS
The board of directors of Oriental Bank of Commerce (OBC) on Thursday approved a voluntary retirement scheme (VRS). The scheme would be open for one month from December 1 to 31.

Canara Bank wants to raise stake in GSTC -- In talks with Corporation Bank
CANARA Bank is in talks with the Mangalore-based Corporation Bank to buy the latter's equity in Gilt Securities Trading Corporation (GSTC).

Finance Ministry calls meet on SIDBI divestment
THE Finance Ministry has called for a meeting on November 13, in New Delhi to decide on the final price and other terms of selling 51 per cent equity of the Small Industries Development Bank of India (SIDBI).

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