1. Alarmed by rise in the incidents of bank robbery in Bihar, the state police has warned of penal action if its directive to switch off the mobile phones while entering banks in the state capital is not being strictly adhered to. A decision to ban the use of the mobile phones was taken at a meeting of senior police officials with representatives of various nationalised and private banks. Now closed-circuit cameras would be installed at the main entrance of the banks besides at the cash counters and the strong rooms.
2. ABN Amro Bank, Citigroup Global Markets, Macquarie Bank, Fidelity and Morgan Stanley have picked up a combined 34% stake in Development Credit Bank from the open market.
3. RBI has given Vijaya Bank the green signal for opening 28 new branches & 23 offsite ATMs.
4.The RBI has dispensed with the lock-in period for remittance of sale proceeds of immovable property of NRIs or Persons of Indian Origin from their NRO accounts in India. The remittance of such sale proceeds was subject to a lock-in period of 10 years.
5. Centurion Bank of Punjab (CBoP) has tied up with software services company SAS Institute India Pvt Ltd to strengthen its customer services. The "SAS Banking Intelligence solution suite" will help the bank in customer segmentation, identification of vulnerable customers and prediction of the most likely purchases of the customer.
6. The board of directors of banks will be responsible for ensuring that an appropriate compliance policy is in place to effectively manage compliance risk faced by banks. Compliance includes strict observance of all statutory provisions contained in various legislations and also following the guidelines issued by organisations such as IBA, FEDAI, FIMMDAof India and so on.
7. Indian Bank has ensured that every family in the Union Territory of Puducherry has a bank account. The project has resulted in bringing 1.25 lakh new "no frill'' account holders into the banks' fold. Besides, the bank has provided overdraft facilities to 15,000 people. The project also involves providing health insurance coverage to 2.8-lakh members of SHGs. All the families have been provided with a bank account. Only those families who did not want one are excluded.
8. Karnataka Bank Ltd has enabled its real time gross settlement (RTGS) facility, MoneyQuick, under Internet banking. Customers using the bank's Internet banking facility would be able to transfer funds from their account to their or third party accounts at RTGS-enabled branches of other banks across the country. This facility is provided in tune with the changing demands and preferences of its customers and in pursuit of its endeavour to improve customer satisfaction.
9. With India's economy continuing to grow at 8%, FIIs infusing capital of over $7 billion so far this calendar year and business cycle going strong, it is not surprising to see Corporate India's second quarter results exceeding the market expectations of about 25% growth.
10. Banks reported a strong set of numbers in the September quarter after two relatively dull quarters. Higher yield on advances, fall in bond yields to the tune of about 50 bps and robust growth in non-fund based exposure appear to be the key factors behind banks reporting good set of numbers. Earnings growth has been 16% for PSBs on an average, while private sector banks have notched a growth of 32%. Even on core operations, private sector banks have managed to walk away with a larger pie. This is reflected in the net interest income (NII) growth, which stood at 14% for PSBs on an average and 48% for private sector banks.
2. ABN Amro Bank, Citigroup Global Markets, Macquarie Bank, Fidelity and Morgan Stanley have picked up a combined 34% stake in Development Credit Bank from the open market.
3. RBI has given Vijaya Bank the green signal for opening 28 new branches & 23 offsite ATMs.
4.The RBI has dispensed with the lock-in period for remittance of sale proceeds of immovable property of NRIs or Persons of Indian Origin from their NRO accounts in India. The remittance of such sale proceeds was subject to a lock-in period of 10 years.
5. Centurion Bank of Punjab (CBoP) has tied up with software services company SAS Institute India Pvt Ltd to strengthen its customer services. The "SAS Banking Intelligence solution suite" will help the bank in customer segmentation, identification of vulnerable customers and prediction of the most likely purchases of the customer.
6. The board of directors of banks will be responsible for ensuring that an appropriate compliance policy is in place to effectively manage compliance risk faced by banks. Compliance includes strict observance of all statutory provisions contained in various legislations and also following the guidelines issued by organisations such as IBA, FEDAI, FIMMDAof India and so on.
7. Indian Bank has ensured that every family in the Union Territory of Puducherry has a bank account. The project has resulted in bringing 1.25 lakh new "no frill'' account holders into the banks' fold. Besides, the bank has provided overdraft facilities to 15,000 people. The project also involves providing health insurance coverage to 2.8-lakh members of SHGs. All the families have been provided with a bank account. Only those families who did not want one are excluded.
8. Karnataka Bank Ltd has enabled its real time gross settlement (RTGS) facility, MoneyQuick, under Internet banking. Customers using the bank's Internet banking facility would be able to transfer funds from their account to their or third party accounts at RTGS-enabled branches of other banks across the country. This facility is provided in tune with the changing demands and preferences of its customers and in pursuit of its endeavour to improve customer satisfaction.
9. With India's economy continuing to grow at 8%, FIIs infusing capital of over $7 billion so far this calendar year and business cycle going strong, it is not surprising to see Corporate India's second quarter results exceeding the market expectations of about 25% growth.
10. Banks reported a strong set of numbers in the September quarter after two relatively dull quarters. Higher yield on advances, fall in bond yields to the tune of about 50 bps and robust growth in non-fund based exposure appear to be the key factors behind banks reporting good set of numbers. Earnings growth has been 16% for PSBs on an average, while private sector banks have notched a growth of 32%. Even on core operations, private sector banks have managed to walk away with a larger pie. This is reflected in the net interest income (NII) growth, which stood at 14% for PSBs on an average and 48% for private sector banks.
