Mottos for Success-276
“Most men are like eggs. Too full of themselves to hold anything else.”
1.KVB is increasing the benchmark PLR from 12.50% to 13.25% w.e.f.1.1.2007.
2. RBI is motivating merger of weaker banks with those of stronger ones to strengthen the banking system in the country. But the move does not seem to have gone down well with employees. After the controversial merger of the Ganesh Bank of Kurundawad with the Kerala-based Federal Bank, the Sangli Bank’s proposed merger with the ICICI Bank has run into rough weather with its 2000 employees opposing the move. The issue has assumed national significance with the All India Bank Employees Association (AIBEA) threatening to oppose the merger in the interests of the Sangli Bank employees.
3. The ICICI bank will soon tie up with US-based Penson Worldwide, a broker services and trade clearing company, for its overseas equity investment product. The bank will also tie up with Russell Investment group for its overseas mutual fund. The Bank will launch a new equity investment product, whereby, an Indian resident can use the ICICI Bank’s facility to invest in the overseas companies’ stocks listed on foreign stock exchanges. It will also provide options for its clients to invest in foreign mutual fund products and for that, it will tie up with Russell Investments. Russell Investment group, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. It also plans to come up with a product for investment in overseas real estate through its overseas real estate mutual fund by mid-2007.
4. Banks have reacted strongly against the RBI’s draft proposals on derivatives trading, saying it was an attempt at micro managing their functions. They said there was no need for the RBI to “dictate the nature of products and tenure of deals” after having directed them to put in place appropriate risk management structure for derivatives. Most banks are also up in arms against a proposal that long-term exposure in a swap could mean residual maturity of three years or more. They said this would be a deterrent in providing derivatives products to small and medium sized corporates.
5. SBH has signed an MoU with the department of rural development, AP government, and the Institute for Development and Research in Banking Technology (IDRBT) for the implementation of a pilot project of financial inclusion in Warangal district. Under this project, the payments under the Rural Employment Guarantee Scheme and Social Security Pensions will be made at the villages by the bank through smartcards, eliminating delay. Under the scheme, SBH has been allotted Raiparthy mandal in Warangal district, and Rs 15 lakh per month will be disbursed to 10,000 beneficiaries in about 23 villages.
6. The Centurion Bank of Punjab has launched Centurion Elite which is an exclusive one-on-one banking service aimed at high networth individuals (HNIs) which is expected to change and simplify the way customers bank. Centurion Elite offers personal financial advice using investment and relationship managers. This includes access to investment and broking services, access to a product specialist, home banking and much more.
7. Yes Bank, has upped its PLR by 50 bps from 12.5 to 13%- the third such increase this year.
“Most men are like eggs. Too full of themselves to hold anything else.”
1.KVB is increasing the benchmark PLR from 12.50% to 13.25% w.e.f.1.1.2007.
2. RBI is motivating merger of weaker banks with those of stronger ones to strengthen the banking system in the country. But the move does not seem to have gone down well with employees. After the controversial merger of the Ganesh Bank of Kurundawad with the Kerala-based Federal Bank, the Sangli Bank’s proposed merger with the ICICI Bank has run into rough weather with its 2000 employees opposing the move. The issue has assumed national significance with the All India Bank Employees Association (AIBEA) threatening to oppose the merger in the interests of the Sangli Bank employees.
3. The ICICI bank will soon tie up with US-based Penson Worldwide, a broker services and trade clearing company, for its overseas equity investment product. The bank will also tie up with Russell Investment group for its overseas mutual fund. The Bank will launch a new equity investment product, whereby, an Indian resident can use the ICICI Bank’s facility to invest in the overseas companies’ stocks listed on foreign stock exchanges. It will also provide options for its clients to invest in foreign mutual fund products and for that, it will tie up with Russell Investments. Russell Investment group, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. It also plans to come up with a product for investment in overseas real estate through its overseas real estate mutual fund by mid-2007.
4. Banks have reacted strongly against the RBI’s draft proposals on derivatives trading, saying it was an attempt at micro managing their functions. They said there was no need for the RBI to “dictate the nature of products and tenure of deals” after having directed them to put in place appropriate risk management structure for derivatives. Most banks are also up in arms against a proposal that long-term exposure in a swap could mean residual maturity of three years or more. They said this would be a deterrent in providing derivatives products to small and medium sized corporates.
5. SBH has signed an MoU with the department of rural development, AP government, and the Institute for Development and Research in Banking Technology (IDRBT) for the implementation of a pilot project of financial inclusion in Warangal district. Under this project, the payments under the Rural Employment Guarantee Scheme and Social Security Pensions will be made at the villages by the bank through smartcards, eliminating delay. Under the scheme, SBH has been allotted Raiparthy mandal in Warangal district, and Rs 15 lakh per month will be disbursed to 10,000 beneficiaries in about 23 villages.
6. The Centurion Bank of Punjab has launched Centurion Elite which is an exclusive one-on-one banking service aimed at high networth individuals (HNIs) which is expected to change and simplify the way customers bank. Centurion Elite offers personal financial advice using investment and relationship managers. This includes access to investment and broking services, access to a product specialist, home banking and much more.
7. Yes Bank, has upped its PLR by 50 bps from 12.5 to 13%- the third such increase this year.
