1. RBI is likely to defer the deadline for implementation of revised capital adequacy guidelines (Basel II) by six months to a year. The central bank is close to issuing the final guidelines. In the draft Basel II guidelines issued over a year back, the RBI had suggested March 31, 2007 as the date for banks to shift to Basel II capital adequacy norms. The central bank may also prefer a phased implementation of the Basel norms starting with foreign banks and internationally active Indian banks and then gradually moving to other banks. Banking sources said empanelment of rating agencies is understood to be a big hurdle in going ahead with Basel II norms as the current credit rating capacity is not enough to cover all loan accounts of banks. Banks would be required to have their loan accounts rated by rating agencies under Basel II for allocation of capital according to the perceived level of risk.
2. In what is seen as further tightening of the norms for non-banking finance companies, RBI has said that in case of change of management and control of an NBFC a public notice should be given by both parties - the acquirer as well as the acquiree.
3. UTI Bank has stirred a hornet's nest with a recent letter to UTI Mutual Fund regarding its plans to register the UTI Bank brand name after 13 years of existence. The bank was allowed to use the UTI name but had never formally registered it.
4. The aggregate interest cost of 419 major companies rose to Rs 2,488 crs in July-Sep 2006, a 23.1% increase over the same period's level of Rs 2,021 crs in the previous fiscal.
5. Karnataka Bank has posted a net profit of Rs. 59.61 crs for the second quarter ended September 30, 2006, as compared to Rs. 41.81 crs in the same period last year, registering an increase of 43%.
6. Seeking to boost its commercial relationship with India, Canada has demanded more access to 'key' markets in the country including in agriculture and retail sector.
7. Andhra Bank posted 10.19% rise in NP at Rs 146.77 crs for the quarter ended Sep 2006 against Rs 132.89 crs recorded during the corresponding period of the previous financial.
8. Allahabad Bank has posted a 24% rise in net profit at Rs 210 crs in the quarter ended Sep 30, 2006, compared with Rs 168 crs in the corresponding period last year.
9. Competition between banks is hotting up to open fresh bank accounts for state government employees. This has been triggered by a state directive urging government employees to get their salaries through the ECS. The cash salary system will be withdrawn soon. The West Bengal government has asked Allahabad Bank, SBI, UCO Bank, United Bank of India and West Bengal State Cooperative Bank (WBSCB) to open new salary accounts for state employees. There are nearly 3.9 lakh government employees across the state. Interestingly, the government has detected that most of its employees, especially in rural areas, do not have bank accounts, or accounts with ECS.
2. In what is seen as further tightening of the norms for non-banking finance companies, RBI has said that in case of change of management and control of an NBFC a public notice should be given by both parties - the acquirer as well as the acquiree.
3. UTI Bank has stirred a hornet's nest with a recent letter to UTI Mutual Fund regarding its plans to register the UTI Bank brand name after 13 years of existence. The bank was allowed to use the UTI name but had never formally registered it.
4. The aggregate interest cost of 419 major companies rose to Rs 2,488 crs in July-Sep 2006, a 23.1% increase over the same period's level of Rs 2,021 crs in the previous fiscal.
5. Karnataka Bank has posted a net profit of Rs. 59.61 crs for the second quarter ended September 30, 2006, as compared to Rs. 41.81 crs in the same period last year, registering an increase of 43%.
6. Seeking to boost its commercial relationship with India, Canada has demanded more access to 'key' markets in the country including in agriculture and retail sector.
7. Andhra Bank posted 10.19% rise in NP at Rs 146.77 crs for the quarter ended Sep 2006 against Rs 132.89 crs recorded during the corresponding period of the previous financial.
8. Allahabad Bank has posted a 24% rise in net profit at Rs 210 crs in the quarter ended Sep 30, 2006, compared with Rs 168 crs in the corresponding period last year.
9. Competition between banks is hotting up to open fresh bank accounts for state government employees. This has been triggered by a state directive urging government employees to get their salaries through the ECS. The cash salary system will be withdrawn soon. The West Bengal government has asked Allahabad Bank, SBI, UCO Bank, United Bank of India and West Bengal State Cooperative Bank (WBSCB) to open new salary accounts for state employees. There are nearly 3.9 lakh government employees across the state. Interestingly, the government has detected that most of its employees, especially in rural areas, do not have bank accounts, or accounts with ECS.
