Mottos for Success-267
“Building a team that delivers calls for team formation and making it work with high levels of Motivation.”
1. Bank of India has acquired majority 76% stake in Indonesian bank, P T Bank Swadesi Tbk. This is the first overseas acquisition for BOI, which has a representative office in Indonesia for the last 33 years. P T Bank Swadesi Tbk is a mid-sized bank operating in Indonesia for the last 38 years. It has four branches, two each in Jakarta and Surayaba, five sub-branches, six cash points and one mobile cash unit. It also has a core banking IT infrastructure, ATM facilities and licence to do forex business. It is listed on the Jakarta Stock Exchange.
2. BOB is aiming to garner Rs 8500 crs business from the eastern zone. Till September 2006 the bank recorded Rs 7,000 crs business from the zone. The eastern zone comprises West Bengal, Sikkim, Andaman and Nicobar and the entire north east region.
3. The central government has set in motion the process of closure of Industrial Investment Bank of India (IIBI) by handing out letters for the transfer of its employees to other banks. Till today, 100 employees on payroll have been issued letters to move to other institutions to take up responsibilities there, but as there are 78 employees remaining.
4. SBI and Bio-Tech, Lucknow, entered into an alliance for financing farmers’ tissue culture labs, agri processing and distillation units. using high-tech methods of cultivation of various fruit crops would result in high yields in shorter periods of crop cycles and thus help farmers in increasing income. The Bio-Tech Park in Lucknow is the first in the country to set up facilities for industries and farmers based on local technology. Special varieties of plants are being developed and farmers are also being trained in new techniques.
5. The rural co-operative credit sector in the country is set to get a boost with $1 billion loan from the Asian Development Bank (ADB) to the centre. The loan, approved for the Rural Cooperative Credit Restructuring and Development Programme, will be released in four tranches, before December 2009.
6. Deutsche Bank has infused Rs 1,125 crs into its Indian operations to tap growing opportunities in infrastructure financing and retail lending. The fresh one is more than double the capital invested by the parent bank in its Indian branches to Rs 2,411 crs.
7. Indian Bank is all set to focus on funding technologically advanced agriculture projects in Gujarat. The decision has been taken by the bank owing to assured returns on its principal amount with its interest. The bank expects assured returns of about 20 to 25% from technologically advanced agricultural projects. In the last few months, the bank has sanctioned Rs 13 crs for funding advanced agricultural projects in Gujarat. It is also looking at financing entrepreneurs with innovative business ideas.
8. Andhra Bank on Wednesday signed a memorandum of understanding (MoU) with India Infrastructure Finance Company Ltd to lend further impetus and purpose to its infrastructure financing activities. It has deployed about 20% of its loan book (about Rs 23,000 crs) towards infrastructure finance.
9. RBI has said that investment by FIIs, NRIs and Persons of Indian Origin in Allahabad Bank has reached the limit of 18% of its paid up capital. No further purchases of equity shares of Allahabad Bank can be made by FIIs, NRIs and PIOs under the portfolio investment scheme, without prior permission of the RBI.
“Building a team that delivers calls for team formation and making it work with high levels of Motivation.”
1. Bank of India has acquired majority 76% stake in Indonesian bank, P T Bank Swadesi Tbk. This is the first overseas acquisition for BOI, which has a representative office in Indonesia for the last 33 years. P T Bank Swadesi Tbk is a mid-sized bank operating in Indonesia for the last 38 years. It has four branches, two each in Jakarta and Surayaba, five sub-branches, six cash points and one mobile cash unit. It also has a core banking IT infrastructure, ATM facilities and licence to do forex business. It is listed on the Jakarta Stock Exchange.
2. BOB is aiming to garner Rs 8500 crs business from the eastern zone. Till September 2006 the bank recorded Rs 7,000 crs business from the zone. The eastern zone comprises West Bengal, Sikkim, Andaman and Nicobar and the entire north east region.
3. The central government has set in motion the process of closure of Industrial Investment Bank of India (IIBI) by handing out letters for the transfer of its employees to other banks. Till today, 100 employees on payroll have been issued letters to move to other institutions to take up responsibilities there, but as there are 78 employees remaining.
4. SBI and Bio-Tech, Lucknow, entered into an alliance for financing farmers’ tissue culture labs, agri processing and distillation units. using high-tech methods of cultivation of various fruit crops would result in high yields in shorter periods of crop cycles and thus help farmers in increasing income. The Bio-Tech Park in Lucknow is the first in the country to set up facilities for industries and farmers based on local technology. Special varieties of plants are being developed and farmers are also being trained in new techniques.
5. The rural co-operative credit sector in the country is set to get a boost with $1 billion loan from the Asian Development Bank (ADB) to the centre. The loan, approved for the Rural Cooperative Credit Restructuring and Development Programme, will be released in four tranches, before December 2009.
6. Deutsche Bank has infused Rs 1,125 crs into its Indian operations to tap growing opportunities in infrastructure financing and retail lending. The fresh one is more than double the capital invested by the parent bank in its Indian branches to Rs 2,411 crs.
7. Indian Bank is all set to focus on funding technologically advanced agriculture projects in Gujarat. The decision has been taken by the bank owing to assured returns on its principal amount with its interest. The bank expects assured returns of about 20 to 25% from technologically advanced agricultural projects. In the last few months, the bank has sanctioned Rs 13 crs for funding advanced agricultural projects in Gujarat. It is also looking at financing entrepreneurs with innovative business ideas.
8. Andhra Bank on Wednesday signed a memorandum of understanding (MoU) with India Infrastructure Finance Company Ltd to lend further impetus and purpose to its infrastructure financing activities. It has deployed about 20% of its loan book (about Rs 23,000 crs) towards infrastructure finance.
9. RBI has said that investment by FIIs, NRIs and Persons of Indian Origin in Allahabad Bank has reached the limit of 18% of its paid up capital. No further purchases of equity shares of Allahabad Bank can be made by FIIs, NRIs and PIOs under the portfolio investment scheme, without prior permission of the RBI.
