Mottos for Success-252
“Give a man a fish, you feed him for a day; teach a man to fish, you feed him for a lifetime.…but teach a woman to fish and chances are that she’ll go on teaching others how it is done.”
1. ICICI has crossed the 1mn customer base for online trading, making it the world’s third largest online trading company.
2. Scope International, Chennai, a global shared service centre of Standard Chartered Bank, UK, will double its infrastructure capacity in Chennai to around 800,000 sq ft by February. It added two more centres in the city recently, taking the number of facilities in the city to four. It also plans to add one more in Chennai.
3. RBI injects or removes liquidity every day from the market through repos and reverse repos. In a repo, the RBI lends funds while in a reverse repo it absorbs funds. The rates at which these are done are the repo and reverse repo rates. Naturally, the repo rate is more than the reverse repo rate. Currently, they are 7.25 % and 6% respectively. In its semi-annual monetary policy review last month, the RBI increased the repo rate but did not touch the reverse repo rate. It is significant and could be the prelude to doing away with reverse repos altogether.
4. Max New York Life and Adilabad District Cooperative Central Bank Ltd have announced a strategic tie-up to sell life insurance products through the rural bank. The tie-up will strengthen the insurance company's rural presence in AP. Through this partnership, the bank will sell Max New York Life's insurance products through a network of 19 branches and 60 cooperative societies in the rural areas of Adilabad district.
5. Improvement in customer service is one of the focus areas for growth for Karnataka circle of SBI. In this regard, the bank is planning to sensitise its frontline staff in the branches by giving special training to them.
6. PNB has announced that all the CBS branch customers with PNB debit card could now have 2 add-on-debit cards for his/her family members, who may be spouse and dependent children not below 18 yrs. The add-on-card holders are also covered under the accident death insurance of Rs 1 lakh. The debit card is issued free-of-cost to the primary cardholders as well as to the add-on-card holders. Insurance cover of Rs 1 lakh is also available free-of-cost.
7. As watchers of the banking scene know, `schedule for compliance' has been redrawn for Basel II. The recent Mid-term Review of Annual Policy for the Year 2006-07 from the RBI conceded that March 31, 2007 as the intended date for adoption of Basel II had to be postponed by two years, `taking into account the state of preparedness of the banking system.' The delay is `a blessing in disguise,' says Mr Amreshwar Seth, Senior Adviser, KPMG. "The extension of the Basel II implementation deadline is unlikely to slow down the process; in fact, it could provide some much-needed time to adequately execute the guidelines.
8. LVB is planning to double its customer base in two years by opening new branches in unrepresented areas and states. It has already commissioned five new branches during the current fiscal. It was awaiting clearances from the RBI for setting up another 25 branches, which would be opened before end of this fiscal.
9. ICICI Bank, is planning a $1 bn overseas syndicated loan. This is the third time in four months that the bank will tap the overseas market for funds.
2. Scope International, Chennai, a global shared service centre of Standard Chartered Bank, UK, will double its infrastructure capacity in Chennai to around 800,000 sq ft by February. It added two more centres in the city recently, taking the number of facilities in the city to four. It also plans to add one more in Chennai.
3. RBI injects or removes liquidity every day from the market through repos and reverse repos. In a repo, the RBI lends funds while in a reverse repo it absorbs funds. The rates at which these are done are the repo and reverse repo rates. Naturally, the repo rate is more than the reverse repo rate. Currently, they are 7.25 % and 6% respectively. In its semi-annual monetary policy review last month, the RBI increased the repo rate but did not touch the reverse repo rate. It is significant and could be the prelude to doing away with reverse repos altogether.
4. Max New York Life and Adilabad District Cooperative Central Bank Ltd have announced a strategic tie-up to sell life insurance products through the rural bank. The tie-up will strengthen the insurance company's rural presence in AP. Through this partnership, the bank will sell Max New York Life's insurance products through a network of 19 branches and 60 cooperative societies in the rural areas of Adilabad district.
5. Improvement in customer service is one of the focus areas for growth for Karnataka circle of SBI. In this regard, the bank is planning to sensitise its frontline staff in the branches by giving special training to them.
6. PNB has announced that all the CBS branch customers with PNB debit card could now have 2 add-on-debit cards for his/her family members, who may be spouse and dependent children not below 18 yrs. The add-on-card holders are also covered under the accident death insurance of Rs 1 lakh. The debit card is issued free-of-cost to the primary cardholders as well as to the add-on-card holders. Insurance cover of Rs 1 lakh is also available free-of-cost.
7. As watchers of the banking scene know, `schedule for compliance' has been redrawn for Basel II. The recent Mid-term Review of Annual Policy for the Year 2006-07 from the RBI conceded that March 31, 2007 as the intended date for adoption of Basel II had to be postponed by two years, `taking into account the state of preparedness of the banking system.' The delay is `a blessing in disguise,' says Mr Amreshwar Seth, Senior Adviser, KPMG. "The extension of the Basel II implementation deadline is unlikely to slow down the process; in fact, it could provide some much-needed time to adequately execute the guidelines.
8. LVB is planning to double its customer base in two years by opening new branches in unrepresented areas and states. It has already commissioned five new branches during the current fiscal. It was awaiting clearances from the RBI for setting up another 25 branches, which would be opened before end of this fiscal.
9. ICICI Bank, is planning a $1 bn overseas syndicated loan. This is the third time in four months that the bank will tap the overseas market for funds.
