Mottos for Success-261
“Whether you think you can, or think you can’t, you’re right.”
1. Corporation Bank has joined BSE as a clearing bank. An agreement between BSE and Corporation Bank has been signed. It had made a good beginning with SHCIL Services as a member, and hoped to grow to be a very valuable clearing-house member of BSE.
2. International Visa cardholders spent Rs 6,000 crs in India between July last year and June this year, with cardholders from the European Union emerging the biggest spenders. A research report prepared by Visa International showed that the total international spend on Visa cards here by Europeans was pegged at more than Rs 2,400 crs. The top-three Visa spending countries of origin were the United States ($421 mn or 31% of total tourist spend), the UK ($268 mn or 20% of total tourist spend) and France ($69 mn or 5%of total tourist spend).
3. Catholic Syrian Bank has launched a mediclaim policy, CSB Health Care Support, in association with the New India Assurance Company.The launch of the scheme is just right since most customers would be looking out for better tax breaks towards the end of the financial year, along with medical insurance facilities. The fee-based income of Catholic Syrian Bank is expected to go up substantially during the current year, since the bank has tied up with several mutual funds also for selling their products.
4. The Union Bank of India has introduced `Union Classic Current Account (UCCA),' an improved version, offering more facilities over the `Multi Gain Current Account (MGCA),' introduced in 2004. The scheme, effective from December 1 to December 31, 2006, is aimed at boosting the current account portfolio, attracting more high-value traders' segment and nurture super-value current account connections. The scheme is introduced only in branches with CBS.
5. HSBC Investments has launched portfolio management services. The service aimed at providing customised portfolio management services to select clientele tailored to the investor's risk appetite, growth expectations and personal requirements. There were three product options being offered: 85% capital protection portfolio, signature portfolio and strategic portfolio.
6. Asset Reconstruction Co (India) Ltd (Arcil), the country’s first bad loans buyer, has resolved cases of NPAs involving total dues of Rs 1,741 crs during April-September 2006. Till September, Arcil resolved Rs 11,592 crs of NPAs from Rs 22,412 crs of NPAs acquired since it began operations.
7. While a number of public sector banks are over a hundred years old, their performance has been poor and market shares remain low. It’s high time they consolidate. Bank of India, Canara Bank, Corporation Bank and Indian Bank are all 100-year-old PSBs. While first three have already completed their 100th year, the fourth one, Indian Bank, will turn 100 next March. Two more PSBs, BOB & Punjab & Sind Bank, are inching towards the milestone. They will turn 100 in 2008. There are 87 scheduled commercial banks (excluding the cooperative banks and regional rural banks) and only one of them, SBI, has a double-digit market share. While ICICI Bank’s share is close to 10%, there is only one more bank, PNB, that has a market share (of assets) of more than 5%.
8. Union Bank of India has brought 906 of its branches under core banking solutions. This is 40% of the total branch network.
“Whether you think you can, or think you can’t, you’re right.”
1. Corporation Bank has joined BSE as a clearing bank. An agreement between BSE and Corporation Bank has been signed. It had made a good beginning with SHCIL Services as a member, and hoped to grow to be a very valuable clearing-house member of BSE.
2. International Visa cardholders spent Rs 6,000 crs in India between July last year and June this year, with cardholders from the European Union emerging the biggest spenders. A research report prepared by Visa International showed that the total international spend on Visa cards here by Europeans was pegged at more than Rs 2,400 crs. The top-three Visa spending countries of origin were the United States ($421 mn or 31% of total tourist spend), the UK ($268 mn or 20% of total tourist spend) and France ($69 mn or 5%of total tourist spend).
3. Catholic Syrian Bank has launched a mediclaim policy, CSB Health Care Support, in association with the New India Assurance Company.The launch of the scheme is just right since most customers would be looking out for better tax breaks towards the end of the financial year, along with medical insurance facilities. The fee-based income of Catholic Syrian Bank is expected to go up substantially during the current year, since the bank has tied up with several mutual funds also for selling their products.
4. The Union Bank of India has introduced `Union Classic Current Account (UCCA),' an improved version, offering more facilities over the `Multi Gain Current Account (MGCA),' introduced in 2004. The scheme, effective from December 1 to December 31, 2006, is aimed at boosting the current account portfolio, attracting more high-value traders' segment and nurture super-value current account connections. The scheme is introduced only in branches with CBS.
5. HSBC Investments has launched portfolio management services. The service aimed at providing customised portfolio management services to select clientele tailored to the investor's risk appetite, growth expectations and personal requirements. There were three product options being offered: 85% capital protection portfolio, signature portfolio and strategic portfolio.
6. Asset Reconstruction Co (India) Ltd (Arcil), the country’s first bad loans buyer, has resolved cases of NPAs involving total dues of Rs 1,741 crs during April-September 2006. Till September, Arcil resolved Rs 11,592 crs of NPAs from Rs 22,412 crs of NPAs acquired since it began operations.
7. While a number of public sector banks are over a hundred years old, their performance has been poor and market shares remain low. It’s high time they consolidate. Bank of India, Canara Bank, Corporation Bank and Indian Bank are all 100-year-old PSBs. While first three have already completed their 100th year, the fourth one, Indian Bank, will turn 100 next March. Two more PSBs, BOB & Punjab & Sind Bank, are inching towards the milestone. They will turn 100 in 2008. There are 87 scheduled commercial banks (excluding the cooperative banks and regional rural banks) and only one of them, SBI, has a double-digit market share. While ICICI Bank’s share is close to 10%, there is only one more bank, PNB, that has a market share (of assets) of more than 5%.
8. Union Bank of India has brought 906 of its branches under core banking solutions. This is 40% of the total branch network.
