Mottos for Success-264
“Time stays long enough for those who use it.”
1. PNB has launched a new remittance service with Buyindiaonline.com Inc, a wholly owned subsidiary of Xoom Corporation, USA. Under this service, non-resident Indians can send their remittances to India through the website www.Xoom.com. A beneficiary can pick up pay order in his favour from any of the over 2,000 core banking solutions branches of PNB in India.
Bank of India has declared a 20% interim dividend payable on December 20. For 2005-06, the bank had paid a 30% dividend. The capital adequacy of the bank stands at 11.85%.
2. UTI Mutual Fund will offer a micro-pension initiative to the staff members and customers of Union Bank of India called UTI's `Retirement Benefit Pension Fund.' It will enable them to get pension (periodical income) after 58. It is an open-ended scheme and has been operational for the last 13 years. It invests minimum 60 – 100% in debt and balance in equity.
3. Ambit Corporate Finance, Television 18 group company Web18 and Centurion Bank of Punjab have announced a partnership to pursue stock broking business with a strong Internet presence in India. The venture, will be a first of its kind with three domestic players coming together to capture the fast-growing brokerage market. Besides stock broking, the venture will offer a range of financial services including distribution of third-party product and portfolio management services.
4. United Bank of India's Internet banking service, was inaugurated by the Finance Minister, Mr P. Chidambaram. The service would now be available in 175 branches. As and when the bank goes for CBS (core banking solution), all the branches under CBS would be in a position to extend the service to its customers. The facility would include bill payment, rail and air ticketing, and mobile banking. The service has been audited by Ernst & Young.
5. SIDBI has launched a new software,called Credit Appraisal and Rating Tool (CART),for appraising and rating SMEs. It has been developed in-house by SIDBI. CART aims at helping in prudent decision-making on support-worthiness of credit proposals and on pricing of loans, said a statement from the company.It has contributed to significant reduction in credit dispensation time in the bank. SIDBI has sanctioned about 1,000 loans of average size of Rs 36 lakh using this tool. The software is intended for banks and state finance corporations who have signed MoUs with SIDBI for co-financing. SBI, IDBI Ltd, BOI, BOB, Canara Bank, Dena Bank, Corporation Bank, YES Bank, among others have signed MoUs with SIDBI. SIDBI has co-financed Rs 100 crs till now.
6. The Finance Minister, Mr P. Chidambaram, has urged the RBI to be more liberal in granting branch licences to regional rural banks (RRBs). The RRBs are not expanding their branch network. He stressed the need to maintain distinction between RRBs and commercial banks and ensure that the identity of RRBs is not lost. After the amalgamation drive in the recent years, the number of RRBs in the country has reduced from 196 to 102.
7. OBC hopes to bring all its branches in the city under CBS by March next year.
8. Karnataka Bank Ltd has signed a MoU with Orb Energy Pvt Ltd for financing solar equipment manufactured and marketed by the latter. The finance will be extended under bank's `KBL-Ravi Kiran' scheme. The customers availing of finance under the scheme will get a benefit of sum equal to Rs 25 per watt peak, from Orb Energy Pvt Ltd.
“Time stays long enough for those who use it.”
1. PNB has launched a new remittance service with Buyindiaonline.com Inc, a wholly owned subsidiary of Xoom Corporation, USA. Under this service, non-resident Indians can send their remittances to India through the website www.Xoom.com. A beneficiary can pick up pay order in his favour from any of the over 2,000 core banking solutions branches of PNB in India.
Bank of India has declared a 20% interim dividend payable on December 20. For 2005-06, the bank had paid a 30% dividend. The capital adequacy of the bank stands at 11.85%.
2. UTI Mutual Fund will offer a micro-pension initiative to the staff members and customers of Union Bank of India called UTI's `Retirement Benefit Pension Fund.' It will enable them to get pension (periodical income) after 58. It is an open-ended scheme and has been operational for the last 13 years. It invests minimum 60 – 100% in debt and balance in equity.
3. Ambit Corporate Finance, Television 18 group company Web18 and Centurion Bank of Punjab have announced a partnership to pursue stock broking business with a strong Internet presence in India. The venture, will be a first of its kind with three domestic players coming together to capture the fast-growing brokerage market. Besides stock broking, the venture will offer a range of financial services including distribution of third-party product and portfolio management services.
4. United Bank of India's Internet banking service, was inaugurated by the Finance Minister, Mr P. Chidambaram. The service would now be available in 175 branches. As and when the bank goes for CBS (core banking solution), all the branches under CBS would be in a position to extend the service to its customers. The facility would include bill payment, rail and air ticketing, and mobile banking. The service has been audited by Ernst & Young.
5. SIDBI has launched a new software,called Credit Appraisal and Rating Tool (CART),for appraising and rating SMEs. It has been developed in-house by SIDBI. CART aims at helping in prudent decision-making on support-worthiness of credit proposals and on pricing of loans, said a statement from the company.It has contributed to significant reduction in credit dispensation time in the bank. SIDBI has sanctioned about 1,000 loans of average size of Rs 36 lakh using this tool. The software is intended for banks and state finance corporations who have signed MoUs with SIDBI for co-financing. SBI, IDBI Ltd, BOI, BOB, Canara Bank, Dena Bank, Corporation Bank, YES Bank, among others have signed MoUs with SIDBI. SIDBI has co-financed Rs 100 crs till now.
6. The Finance Minister, Mr P. Chidambaram, has urged the RBI to be more liberal in granting branch licences to regional rural banks (RRBs). The RRBs are not expanding their branch network. He stressed the need to maintain distinction between RRBs and commercial banks and ensure that the identity of RRBs is not lost. After the amalgamation drive in the recent years, the number of RRBs in the country has reduced from 196 to 102.
7. OBC hopes to bring all its branches in the city under CBS by March next year.
8. Karnataka Bank Ltd has signed a MoU with Orb Energy Pvt Ltd for financing solar equipment manufactured and marketed by the latter. The finance will be extended under bank's `KBL-Ravi Kiran' scheme. The customers availing of finance under the scheme will get a benefit of sum equal to Rs 25 per watt peak, from Orb Energy Pvt Ltd.
