1. Six States, Kerala, Punjab, Gujarat, Tamil Nadu, Maharashtra and Andhra Pradesh, would be accounting for 40-50 per cent of the $23-billion annual remittances to India. Western Union, which had a presence through 3,000 outlets in 2001, has extended its reach to 36,000 today. The company had also tied up with petroleum marketing companies, BPCL and HPCL for extending its reach further.
2. As part of its initiative to improve ticket-booking facilities for passengers, the Railways would soon enable buying of reserved train tickets from ATMs, which are being set up at railway stations. The ATMs would have Internet access facility, using which passengers can book e-tickets. The ATM site design and kiosk design for Internet access (to be used for e-ticketing) have already been approved. Setting up of ATMs with e-ticketing facilities will help in reducing long queues at the counters. After entering into an agreement with the SBI to set up 682 ATMs at railway stations, Indian Railways today entered into an agreement with six nationalised banks to set up another 711 ATMs at railway stations for passengers to withdraw cash. Out of the 711 ATMs, 473 will have e-ticketing facilities.
3. PNB has launched online share trading services for its customers. It has tied-up with IDBI Capital Market Services to enable the bank's customers to access www.IDBIpaisabuilder.in, a Web-based portal, for investing in equity, mutual funds and initial public offerings. Although PNB offered bank and demat accounts to its customers so far, it could not directly provide investment products (like online share trading) to them due to regulatory reasons. This alliance with IDBI Capital Market Services would help the bank to offer online trading in shares and, thereby, enlarge the number of demat accounts.
4. Indian Bank's extension counter in the Madras High Court campus has been upgraded as a full-fledged branch. It will have the facilities under Core Banking Solution and also offer services such as Internet banking, phone/mobile banking and multi-city cheques.
5. HSBC, a critical stakeholder in UTI Bank, will for now let its holding remain as it is but is fully aware that the advancing stock market offers it an opportunity to dispose of the stake at a good price. The foreign bank, which on September 30 held 4.96% in UTI Bank, is not considering a dilution at the moment.
6. IIBF, a premier training body promoted by PSBs, is all set to launch a three-paper online diploma course in banking and finance. The board has already approved the programme and the institute is expected to offer it in the next academic session starting May-June 2007.
7. RBI working group has sought deferment of imposition of income tax on urban cooperative banks (UCBs) for three years, to provide them time to develop alternative instruments.
2. As part of its initiative to improve ticket-booking facilities for passengers, the Railways would soon enable buying of reserved train tickets from ATMs, which are being set up at railway stations. The ATMs would have Internet access facility, using which passengers can book e-tickets. The ATM site design and kiosk design for Internet access (to be used for e-ticketing) have already been approved. Setting up of ATMs with e-ticketing facilities will help in reducing long queues at the counters. After entering into an agreement with the SBI to set up 682 ATMs at railway stations, Indian Railways today entered into an agreement with six nationalised banks to set up another 711 ATMs at railway stations for passengers to withdraw cash. Out of the 711 ATMs, 473 will have e-ticketing facilities.
3. PNB has launched online share trading services for its customers. It has tied-up with IDBI Capital Market Services to enable the bank's customers to access www.IDBIpaisabuilder.in, a Web-based portal, for investing in equity, mutual funds and initial public offerings. Although PNB offered bank and demat accounts to its customers so far, it could not directly provide investment products (like online share trading) to them due to regulatory reasons. This alliance with IDBI Capital Market Services would help the bank to offer online trading in shares and, thereby, enlarge the number of demat accounts.
4. Indian Bank's extension counter in the Madras High Court campus has been upgraded as a full-fledged branch. It will have the facilities under Core Banking Solution and also offer services such as Internet banking, phone/mobile banking and multi-city cheques.
5. HSBC, a critical stakeholder in UTI Bank, will for now let its holding remain as it is but is fully aware that the advancing stock market offers it an opportunity to dispose of the stake at a good price. The foreign bank, which on September 30 held 4.96% in UTI Bank, is not considering a dilution at the moment.
6. IIBF, a premier training body promoted by PSBs, is all set to launch a three-paper online diploma course in banking and finance. The board has already approved the programme and the institute is expected to offer it in the next academic session starting May-June 2007.
7. RBI working group has sought deferment of imposition of income tax on urban cooperative banks (UCBs) for three years, to provide them time to develop alternative instruments.
