1. Indian Bank has launched a new `premium' current account with built-in `sweep' facility for corporates, traders, businessmen and professionals.
2. The Oriental Bank of Commerce, Indian Bank and Corporation Bank business alliance is looking to share payment modes and launch a joint credit card.
3. Corporation Bank has posted an increase of 20.27% in net profit at Rs 127.01 crs for the quarter ended September 30, as compared to Rs 105.60 crs for the same quarter last year. The total income increased 20.41% to Rs 945.54 crs for the second quarter ended September 30, from Rs 785.26 cr. for the corresponding quarter a year ago.
4. Allahabad Bank has posted 24.76% increase in net profit at Rs 210.03 crs for the quarter ended September 30, as compared to Rs 168.34 crs in the corresponding quarter last year. The total income increased by 19.16% to 1267.83 crs for the quarter ended September 30, as compared to Rs 1063.93 crs in the same quarter last fiscal.
5. The “sunrise” sector of microfinance, billed to have a potential of Rs 35,000 crs is likely to be regulated by the Nabard. This would mean a regulator for more than 400m Indians who are out of the banking system and who are currently being serviced by microfinance institutions. The microfinance bill, currently under review, is likely to be introduced in Parliament in the winter session.
6. For. reserves rose by $1.202 bn to $166.153 bn for the week ended Oct 20, due to a rise in foreign currency assets. In the previous week, reserves fell by $324 mn to $164.95 bn.
7. Higher interest income boosted the net profit of BOI by 61% to Rs 212.13 crs (Rs 132.18 crs) for the second quarter ended September 30. The bank trimmed its net NPAs by over 40% to Rs 788.75 crs (Rs 1,333.41 crs) with the net NPA as a proportion of total assets standing at 1.07% (2.25%). Net interest margin improved to 2.86% (2.34%).
8. Peerless General Finance & Investment Company Ltd, a major residuary non-banking company (RNBC), celebrated its platinum jubilee recently.
9. SBI has opened a branch at Singur (Hooghly district), the controversial location where the WB Government wants Tata Motors to set up a factory for producing small cars but faces stiff opposition from various quarters over the issue of handing over fertile farm lands for industrial purposes.
10. Gross bank credit has gone down by Rs 11,014 crs to Rs 16,43,720 crs as on Oct 13.
11.IndusInd Bank has launched "Indus GOLD Debit Card" in association with VISA at an annual fee of Rs 350 (plus service tax). The card has a daily withdrawal limit up to Rs 50,000 from ATMs.
12. The one-day nationwide strike called by the United Forum of Bank Unions hit banking services, including clearing operations across the country. Over 10 lakh employees and officers of nationalised banks stayed away from work.
2. The Oriental Bank of Commerce, Indian Bank and Corporation Bank business alliance is looking to share payment modes and launch a joint credit card.
3. Corporation Bank has posted an increase of 20.27% in net profit at Rs 127.01 crs for the quarter ended September 30, as compared to Rs 105.60 crs for the same quarter last year. The total income increased 20.41% to Rs 945.54 crs for the second quarter ended September 30, from Rs 785.26 cr. for the corresponding quarter a year ago.
4. Allahabad Bank has posted 24.76% increase in net profit at Rs 210.03 crs for the quarter ended September 30, as compared to Rs 168.34 crs in the corresponding quarter last year. The total income increased by 19.16% to 1267.83 crs for the quarter ended September 30, as compared to Rs 1063.93 crs in the same quarter last fiscal.
5. The “sunrise” sector of microfinance, billed to have a potential of Rs 35,000 crs is likely to be regulated by the Nabard. This would mean a regulator for more than 400m Indians who are out of the banking system and who are currently being serviced by microfinance institutions. The microfinance bill, currently under review, is likely to be introduced in Parliament in the winter session.
6. For. reserves rose by $1.202 bn to $166.153 bn for the week ended Oct 20, due to a rise in foreign currency assets. In the previous week, reserves fell by $324 mn to $164.95 bn.
7. Higher interest income boosted the net profit of BOI by 61% to Rs 212.13 crs (Rs 132.18 crs) for the second quarter ended September 30. The bank trimmed its net NPAs by over 40% to Rs 788.75 crs (Rs 1,333.41 crs) with the net NPA as a proportion of total assets standing at 1.07% (2.25%). Net interest margin improved to 2.86% (2.34%).
8. Peerless General Finance & Investment Company Ltd, a major residuary non-banking company (RNBC), celebrated its platinum jubilee recently.
9. SBI has opened a branch at Singur (Hooghly district), the controversial location where the WB Government wants Tata Motors to set up a factory for producing small cars but faces stiff opposition from various quarters over the issue of handing over fertile farm lands for industrial purposes.
10. Gross bank credit has gone down by Rs 11,014 crs to Rs 16,43,720 crs as on Oct 13.
11.IndusInd Bank has launched "Indus GOLD Debit Card" in association with VISA at an annual fee of Rs 350 (plus service tax). The card has a daily withdrawal limit up to Rs 50,000 from ATMs.
12. The one-day nationwide strike called by the United Forum of Bank Unions hit banking services, including clearing operations across the country. Over 10 lakh employees and officers of nationalised banks stayed away from work.
