1. PNB plans to come up with its own credit card by March next year. It would soon invite expression of interest for a joint venture partner in the proposed credit card venture. Currently, PNB has a co-branding tie-up with HSBC in which latter is the card issuer and plays the dominant role. Indications are that PNB would withdraw from this tie-up as soon as the joint venture company takes off.
2. OBC would soon offer online share trading facility to its demat account holders. For this purpose, the bank has signed a MOU with IL&FS Investsmart. Initially, the online share trading facility would be available on a pilot basis at Mumbai. This facility would in due course get extended to other branches. Currently, OBC has more than 1 lakh demat accounts spread over 111 branches.
3. ICICI Bank has signed a MOU with Export Development Canada (EDC), a Canadian export credit agency, for financing support to Indian buyers of capital goods and professional services from Canada. ICICI Bank will leverage its international presence to provide holistic support to Indian corporates in their global aspirations.
4. Basel II was to have been on in about four months, but Indian banks got a reprieve when the RBI recently extended the deadline by up to two years. Perhaps our banks knew it all along that compliance with Basel II was still far away. Which explains why approximately 75% of the banks have not specifically budgeted funds for their Basel II programme, as a recent survey has found.
5. IDBI Capital Market Services Ltd has signed an agreement with Bank of Rajasthan to offer e-trading services through www.IDBIpaisabuilder.in to the customers of the bank.
6. Forex reserves for the fortnight ended November 17 increased by a massive $2.071 bn to touch $170.355 bn.
7. Wall Street Finance Ltd has tied-up with IndusInd Bank for sales and marketing of Saudi Riyal drafts to Haj pilgrims during the Haj season. WSFL is involved in foreign exchange and inward money remittance services.
8. ING Mutual Fund has tied up with Dena Bank for the distribution of its mutual fund products through select branches.
9. The Hongkong and Shanghai Banking Corporation Ltd is organising the HSBC Bird Race, a signature event of the bank to create awareness about nature.The HSBC Bird Race is a dawn-to-dusk event and each of the four-member team will be named after birds found locally such as kingfisher, cuckoo and woodpecker etc. The teams will spend the entire day spotting and identifying birds in an effort to record as many species of birds as possible.
10. Foreign commercial and investment banks have quietly begun picking up public sector bank's tier II and upper tier II bond issues. Bankers said that the foreign banks were picking up the securities in anticipation of softening of yields, across all categories.
11. Gross bank credit has gone up by Rs 15,525 crs to Rs 16,71,093 crs as of November 10, according to RBI's Weekly Statistical Supplement.
2. OBC would soon offer online share trading facility to its demat account holders. For this purpose, the bank has signed a MOU with IL&FS Investsmart. Initially, the online share trading facility would be available on a pilot basis at Mumbai. This facility would in due course get extended to other branches. Currently, OBC has more than 1 lakh demat accounts spread over 111 branches.
3. ICICI Bank has signed a MOU with Export Development Canada (EDC), a Canadian export credit agency, for financing support to Indian buyers of capital goods and professional services from Canada. ICICI Bank will leverage its international presence to provide holistic support to Indian corporates in their global aspirations.
4. Basel II was to have been on in about four months, but Indian banks got a reprieve when the RBI recently extended the deadline by up to two years. Perhaps our banks knew it all along that compliance with Basel II was still far away. Which explains why approximately 75% of the banks have not specifically budgeted funds for their Basel II programme, as a recent survey has found.
5. IDBI Capital Market Services Ltd has signed an agreement with Bank of Rajasthan to offer e-trading services through www.IDBIpaisabuilder.in to the customers of the bank.
6. Forex reserves for the fortnight ended November 17 increased by a massive $2.071 bn to touch $170.355 bn.
7. Wall Street Finance Ltd has tied-up with IndusInd Bank for sales and marketing of Saudi Riyal drafts to Haj pilgrims during the Haj season. WSFL is involved in foreign exchange and inward money remittance services.
8. ING Mutual Fund has tied up with Dena Bank for the distribution of its mutual fund products through select branches.
9. The Hongkong and Shanghai Banking Corporation Ltd is organising the HSBC Bird Race, a signature event of the bank to create awareness about nature.The HSBC Bird Race is a dawn-to-dusk event and each of the four-member team will be named after birds found locally such as kingfisher, cuckoo and woodpecker etc. The teams will spend the entire day spotting and identifying birds in an effort to record as many species of birds as possible.
10. Foreign commercial and investment banks have quietly begun picking up public sector bank's tier II and upper tier II bond issues. Bankers said that the foreign banks were picking up the securities in anticipation of softening of yields, across all categories.
11. Gross bank credit has gone up by Rs 15,525 crs to Rs 16,71,093 crs as of November 10, according to RBI's Weekly Statistical Supplement.
