Mottos for Success-279
“Cross selling is a continuous process of sale.”
1. The ING group has begun discussions with the Department of Posts for retailing life insurance products through the India Post network in the country.
2. To ensure a system for realistic valuation of fixed assets owned by banks or mortgaged to banks, the RBI has asked them to have a board-approved policy for valuation of properties. Such property would include collaterals accepted by banks against their exposures. The valuation should be done by professionally qualified independent valuers. For properties valued above Rs 50 crs, banks should obtain minimum two independent valuation reports.
3. Centurion Bank of Punjab has received RBI approval for a preferential issue to India Advantage Value Fund V (managed by ICICI Venture Funds Management Company Ltd). The bank plans to issue 7.5-cr equity shares at a price of Rs 24.54 per equity share.
4. YES Bank will now offer banking services from 7 a.m. to 11 p.m. six days a week (Monday to Saturday) at its Andheri (west) branch in Mumbai. Based on customer feedback, the service proposition would be extended to other branches across the country having similar lifestyle and financial requirements in the days ahead.
5. City Union Bank has introduced two deposit schemes called CUB 400+ and CUB 600+, effected a revision in the deposit interest rate and brought its entire 155-branch network under the core banking solutions platform.
6.A number of banks have hiked the interest rates on NRE fixed deposits and FCNR deposits with effect from January 1. The banks are ICICI Bank, Andhra Bank, Union Bank, Dena Bank, Karnataka Bank, Federal Bank, Canara Bank, PNB and SBT.
7. The tough stance adopted by Uco Bank on closing down branches in metros and urban centres that incurred losses consistently, seems to have paid off. Nearly 14 out of the 27 loss-making branches in metro, semi-urban and urban areas have now reported a spurt in performance clocking profits by the end of FY06. In mid-’05, the bank had signed an agreement with the regional managers of these branches to chalk out a detailed viable plan to revive them.
8. Lending rates may be on an increase , but one set of banks aren’t complaining. Over the last fortnight, even as banks hiked their PLRs with money becoming more costly, corporates, even those placed a notch below blue chips,are in a position to borrow at rates below PLR.
9. Banknet India, focused on banking knowledge and research and one of the largest organisers of banking industry conferences, is organising the "Third Annual Conference on Payment Systems in Banks" in Mumbai. Last year, Banknet India's conference on payment systems had 550 participants from more than 100 banks and FIs and nearly 50 IT cos worldwide.
10. Banks want parents of students seeking educational loans to be made co-borrowers to facilitate loan recovery after completion of studies as part of a proposed student educational loan finance scheme. The proposed scheme prepared by the ministry of HRD seeks to ensure availability of loans to every needy student enrolled in an “eligible” educational institution, without any collateral or margin money. The student borrower would also not be required to present any co-applicant. A working group of senior executives from select public sector banks, under the aegis of the IBA, has suggested to the government that loans be sanctioned at the place of residence/ domicile of the student so that banks can comply with KYC norms.
“Cross selling is a continuous process of sale.”
1. The ING group has begun discussions with the Department of Posts for retailing life insurance products through the India Post network in the country.
2. To ensure a system for realistic valuation of fixed assets owned by banks or mortgaged to banks, the RBI has asked them to have a board-approved policy for valuation of properties. Such property would include collaterals accepted by banks against their exposures. The valuation should be done by professionally qualified independent valuers. For properties valued above Rs 50 crs, banks should obtain minimum two independent valuation reports.
3. Centurion Bank of Punjab has received RBI approval for a preferential issue to India Advantage Value Fund V (managed by ICICI Venture Funds Management Company Ltd). The bank plans to issue 7.5-cr equity shares at a price of Rs 24.54 per equity share.
4. YES Bank will now offer banking services from 7 a.m. to 11 p.m. six days a week (Monday to Saturday) at its Andheri (west) branch in Mumbai. Based on customer feedback, the service proposition would be extended to other branches across the country having similar lifestyle and financial requirements in the days ahead.
5. City Union Bank has introduced two deposit schemes called CUB 400+ and CUB 600+, effected a revision in the deposit interest rate and brought its entire 155-branch network under the core banking solutions platform.
6.A number of banks have hiked the interest rates on NRE fixed deposits and FCNR deposits with effect from January 1. The banks are ICICI Bank, Andhra Bank, Union Bank, Dena Bank, Karnataka Bank, Federal Bank, Canara Bank, PNB and SBT.
7. The tough stance adopted by Uco Bank on closing down branches in metros and urban centres that incurred losses consistently, seems to have paid off. Nearly 14 out of the 27 loss-making branches in metro, semi-urban and urban areas have now reported a spurt in performance clocking profits by the end of FY06. In mid-’05, the bank had signed an agreement with the regional managers of these branches to chalk out a detailed viable plan to revive them.
8. Lending rates may be on an increase , but one set of banks aren’t complaining. Over the last fortnight, even as banks hiked their PLRs with money becoming more costly, corporates, even those placed a notch below blue chips,are in a position to borrow at rates below PLR.
9. Banknet India, focused on banking knowledge and research and one of the largest organisers of banking industry conferences, is organising the "Third Annual Conference on Payment Systems in Banks" in Mumbai. Last year, Banknet India's conference on payment systems had 550 participants from more than 100 banks and FIs and nearly 50 IT cos worldwide.
10. Banks want parents of students seeking educational loans to be made co-borrowers to facilitate loan recovery after completion of studies as part of a proposed student educational loan finance scheme. The proposed scheme prepared by the ministry of HRD seeks to ensure availability of loans to every needy student enrolled in an “eligible” educational institution, without any collateral or margin money. The student borrower would also not be required to present any co-applicant. A working group of senior executives from select public sector banks, under the aegis of the IBA, has suggested to the government that loans be sanctioned at the place of residence/ domicile of the student so that banks can comply with KYC norms.
