1. Corporation Bank, Nampally, has become the first PSB to earn BIMA Bank award from the LIC, South Central Zone. The award is in recognition of the highest insurance premium mobilised by the branch over the last six months. The branch had crossed Rs 50 crs business at the end of September 2006 and earned ISO certification.
2. There is more to Basel-II than capital requirement. The `New Accord of Basel Committee of Banking Supervision', popularly known as Basel-II, is really a push towards a system that shines a light on various risks, so that the management could address them. The true benefits of Basel-II would be realised if banks meet the requirements not just to satisfy the regulator, but as a means of risk mitigation. All banks, including those who do traditional, deposit taking-lending banking, were open to operational risks.
3. In tune with intensifying its efforts to serve the rural community more effectively, Corporation Bank has initiated a process to sell its loan products in villages with the help of India Post. In association with India Post, It has launched `Corp Gram Mitra Yojana' - a security-free consumption loan scheme for rural beneficiaries. To begin with, the scheme has been introduced on a pilot basis in Goa.
4. The All-India Bank Depositors Association (Mumbai) contends that the RBI working group report on reasonableness of bank service charges is "not specific." The association thinks the report should specify the "financial services that need scrutiny" for fair charges.
5. Not to be left behind private banks, several public sector banks are tying up with broking firms to offer online trading services. In the last week, three public sector banks announced trading services and a few more banks are also expected to follow. While the securities firms provide the trading facility, banks provide savings and demat accounts. For the banks, it means a new source of fee income, more floating funds and a larger base of low cost deposits in the form of savings and current bank accounts.
6. SBI which tied up with Motilal Oswal Securities, already has 65,000 demat clients and is targeting 1,50,000 clients. Online trading will give floating funds to banks. PNB has tied up with IDBI Capital Market Services and OBC with ILFS Investmart. BOI is linking up with Asit C. Mehta Investment Intermediates Ltd. UBI has been offering online trading services since November 2005 with SSKI Securities and has 1.1 lakh demat accounts.
7. BOB, too, has plans to offer depository services once its CBS are extended to more branches. As of now, the bank offers demat account facilities at 11 centres and plans to extend it to about 600 branches in the next few months. 8. Online retail trading is getting popular as investible surpluses with retail investors swell the purse, at the ICICI Direct.com, the online broking subsidiary of ICICI Bank. Banks retain customers with online trading, while investors gain from having a link with their demat, trading and savings accounts. Electronic fund transfer acts as a bonus. ICICI Direct.com has 10 lakh customers in the last six years. While there are about two crs shareholders, there are only about 19 lakh registered Internet trading customers indicating the scope for online trading.
2. There is more to Basel-II than capital requirement. The `New Accord of Basel Committee of Banking Supervision', popularly known as Basel-II, is really a push towards a system that shines a light on various risks, so that the management could address them. The true benefits of Basel-II would be realised if banks meet the requirements not just to satisfy the regulator, but as a means of risk mitigation. All banks, including those who do traditional, deposit taking-lending banking, were open to operational risks.
3. In tune with intensifying its efforts to serve the rural community more effectively, Corporation Bank has initiated a process to sell its loan products in villages with the help of India Post. In association with India Post, It has launched `Corp Gram Mitra Yojana' - a security-free consumption loan scheme for rural beneficiaries. To begin with, the scheme has been introduced on a pilot basis in Goa.
4. The All-India Bank Depositors Association (Mumbai) contends that the RBI working group report on reasonableness of bank service charges is "not specific." The association thinks the report should specify the "financial services that need scrutiny" for fair charges.
5. Not to be left behind private banks, several public sector banks are tying up with broking firms to offer online trading services. In the last week, three public sector banks announced trading services and a few more banks are also expected to follow. While the securities firms provide the trading facility, banks provide savings and demat accounts. For the banks, it means a new source of fee income, more floating funds and a larger base of low cost deposits in the form of savings and current bank accounts.
6. SBI which tied up with Motilal Oswal Securities, already has 65,000 demat clients and is targeting 1,50,000 clients. Online trading will give floating funds to banks. PNB has tied up with IDBI Capital Market Services and OBC with ILFS Investmart. BOI is linking up with Asit C. Mehta Investment Intermediates Ltd. UBI has been offering online trading services since November 2005 with SSKI Securities and has 1.1 lakh demat accounts.
7. BOB, too, has plans to offer depository services once its CBS are extended to more branches. As of now, the bank offers demat account facilities at 11 centres and plans to extend it to about 600 branches in the next few months. 8. Online retail trading is getting popular as investible surpluses with retail investors swell the purse, at the ICICI Direct.com, the online broking subsidiary of ICICI Bank. Banks retain customers with online trading, while investors gain from having a link with their demat, trading and savings accounts. Electronic fund transfer acts as a bonus. ICICI Direct.com has 10 lakh customers in the last six years. While there are about two crs shareholders, there are only about 19 lakh registered Internet trading customers indicating the scope for online trading.
