1. OBC inaugurated its new centralised credit-processing cell at Hyderabad. The bank has similar cells in Ghaziabad, Mumbai-North and New Delhi regions. These cells are meant to cater to the requirements of borrowers with credit limits of Rs 50 lakh and above. The cells are expected to ensure speedy disposal of credit proposals, simplify administrative processes, expedite credit decisions and enable direct interaction with prospective borrowers. The cell at Hyderabad processed 30 cases for an aggregate amount of Rs 719.55 crs. On the inaugural day, the bank made sanctions to 11 borrowers amounting to Rs 83.55 crs. These credit proposals cover SSI, SME, export, highway projects, housing, power, spinning mills and other industries.
2. The Finance Minister, Mr P. Chidambaram, is to meet Chairmen of Public Sector Banks on November 6. He will use the meeting to review the financial performance of the banks in the first six months of the current fiscal and also the flow of credit to various sectors of the economy. This meeting comes close on the heels of the RBI 's move of October 31 to hike repo rates by 25 bps.
3. Standard Chartered Bank has launched SCB Gold Debit Card, with an annual fee of Rs 799. The card has an enhanced spending limit of Rs 95,000 for each purchase and ATM cash withdrawal.
4. Andhra Bank is hosting the Bankers' Conference this year in Hyderabad from November 3-4, with organisational support from the Indian Banks' Association (IBA). The Union Finance Minister, Mr P. Chidambaram, will inaugurate the conclave of the chiefs of Indian public, private and foreign banks, with the RBI Governor, Dr Y.V. Reddy, participating in the key deliberations. The conclave, with the theme `Inclusive Growth — A New Challenge', is aimed at meaningful discussions and deliberations on various aspects of the Indian banking industry with key focus on inclusive growth. The conclave is expected to provide a major direction to Indian banking, to support the pursuit of balanced and widely dispersed economic growth and development.
5.Highlighting the role of microfinance sector in expanding the reach of banking facilities, Prof. Thingalaya has said the services of the regional rural banks could be utilised better for this purpose.
6.IBA finds a major business opportunity in inclusive growth, the latest priority on the economic development agenda, and does not consider it a mere social responsibility. According to Mr K. Ramakrishnan, CMD of Andhra Bank the host of Bancon-2006, almost 52% of the rural population still has no access to formal banking. Stating that inclusive growth as a development strategy was quite successful in East Asia, he said a similar strategy was being contemplated in India to ensure that economic development benefits the poor.
2. The Finance Minister, Mr P. Chidambaram, is to meet Chairmen of Public Sector Banks on November 6. He will use the meeting to review the financial performance of the banks in the first six months of the current fiscal and also the flow of credit to various sectors of the economy. This meeting comes close on the heels of the RBI 's move of October 31 to hike repo rates by 25 bps.
3. Standard Chartered Bank has launched SCB Gold Debit Card, with an annual fee of Rs 799. The card has an enhanced spending limit of Rs 95,000 for each purchase and ATM cash withdrawal.
4. Andhra Bank is hosting the Bankers' Conference this year in Hyderabad from November 3-4, with organisational support from the Indian Banks' Association (IBA). The Union Finance Minister, Mr P. Chidambaram, will inaugurate the conclave of the chiefs of Indian public, private and foreign banks, with the RBI Governor, Dr Y.V. Reddy, participating in the key deliberations. The conclave, with the theme `Inclusive Growth — A New Challenge', is aimed at meaningful discussions and deliberations on various aspects of the Indian banking industry with key focus on inclusive growth. The conclave is expected to provide a major direction to Indian banking, to support the pursuit of balanced and widely dispersed economic growth and development.
5.Highlighting the role of microfinance sector in expanding the reach of banking facilities, Prof. Thingalaya has said the services of the regional rural banks could be utilised better for this purpose.
6.IBA finds a major business opportunity in inclusive growth, the latest priority on the economic development agenda, and does not consider it a mere social responsibility. According to Mr K. Ramakrishnan, CMD of Andhra Bank the host of Bancon-2006, almost 52% of the rural population still has no access to formal banking. Stating that inclusive growth as a development strategy was quite successful in East Asia, he said a similar strategy was being contemplated in India to ensure that economic development benefits the poor.
