The Hindu Business Line : Thursday, December 06, 2007

FINANCIAL SERVICES
Centrum Group plans more than 100 branches
The Centrum Group, which opened its 70th branch at the airport here to provide all financial services under one roof, is planning more than 100 branches across India in the current financial year. In a release, Mr Guru Prasad, Executive ... More

Fee waived to encourage usage of ATMs
Hyderabad, Dec. 5 The Institute for Development and Research in Banking Technology (IDRBT) has waived the switching (routing) fee of National Financial Switch (NFS) for the usage of ATM network by the various member banks. The NFS is an ... More

FOREX
Rupee weaker by 7 paise
The rupee weakened by seven paise against the greenback on Wednesday on dollar buying by some foreign banks. The home currency opened at 39.42/43 and closed at 39.4950, down from the previous close of 39.42/43. Foreign exchange dealers, however, ... More

RBI & OTHER CENTRAL BANKS
New Rs 10 note
The Reserve Bank of India (RBI) will soon issue Rs 10 denomination banknotes with inset letter ‘A’ in both numbering panels in the Mahatma Gandhi series bearing the signature of the Governor, Dr Y.V. Reddy. A release issued by the RBI ... More

PRIVATE BANKS
TMB opens 197th branch
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PUBLIC SECTOR BANKS
Syndicate Bank expects nod soon for follow-on issue
New Delhi, Dec. 5 Syndicate Bank expects to get the necessary clearances from the Government and other regulatory bodies for its follow-on public issue soon.“The bank’s board has already cleared the proposal, but we are ... More

Punjab National Bank ATM
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FINANCIAL INSTITUTIONS
ADB to assist States weak in infrastructure
Favours public-pvt participation to tackle deficit More

GOVT BONDS
Bond prices move up
Bond prices rose by around 5 paise, as improvement in liquidity continued to provide comfort to traders. Total traded volumes on the order-matching system were at Rs 7,495 crore (Rs 5,295 crore). Dealers said that prices inched up by 15 paise ... More

CREDIT MARKET
Low credit offtake forces banks to focus on investments
Resources deployed in G-Secs; investment deposit ratio up More

Bank officers’ union takes up cause of SMEs
Kochi, Dec. 5 The All India Bank Officers Association (AIBOA) has pointed out that despite the high employment potential of small and medium enterprises, self employment categories and medium scale enterprises which contribute 40 per cent of ... More

SHORT TERM INSTRUMENTS
Call rates lower
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REGULATORY BODIES & RULINGS
Solvency margins of non-life players may dip
Fallout of increased competition post free-pricing, says IRDA More

TRADE & LABOUR UNIONS
Bank-wise wage regime proposal draws union ire
Coimbatore, Dec. 5 While public sector bank chiefs at a CEO Panel discussion at Bancon 2007 voiced the need to move away from industry-wide wage settlement, the unions have expressed their opposition to it.The compensation package ... More

SBM officers too join the strike
Banking operations of State Bank of Mysore (SBM) were hit after officers joined the strike called by the unions opposing the merger between State Bank of India (SBI) and State Bank of Saurashtra (SBS).Decrying the strike, the SBM ... More

NEW PRODUCTS & SERVICES
Trust banks to draw up your will and execute it too
NICHE SERVICES More