Mottos for Success-270
"Success is neither magical or mysterious. Success is the natural consequence of consistently applying the basic fundamentals."
"Success is neither magical or mysterious. Success is the natural consequence of consistently applying the basic fundamentals."
1. The Finance Minister, Mr P. Chidambaram, has introduced the SBI (amendment) Bill, 2006 that seeks to allow reduction in the RBI’s shareholding (statutory minimum) in the country's largest commercial bank from 55% to 51% of the issued equity capital. Currently, the RBI holds 59.73% stake in SBI. The Centre has already agreed in-principle to acquire the RBI's shareholding in SBI and indicated that it would maintain a minimum 51% stake in SBI, as is the case with other public sector banks.
2. SBI has signed a MoU with Suguna Poultry Farm Ltd, a major integrated broiler producer and marketer, for financing the contract poultry farming run under the latter's fold. It will facilitate extending bank credit for the existing as well as new poultry farmers in contract with the Suguna Poultry through a central arrangement on a tailor-made scheme. This will obviate the need for farmers going for independent loan proposals and the connected hassles.
3. There has been no impact on credit growth and non-performing assets till now, post interest rate hike. ICICI Bank was the first bank to raise its lending rates by almost 50 bps after the hike in cash reserve ratio by the RBI.
4. ICICI Bank has launched a co-branded credit card along with ‘X Box 360’. The tie-up enables easy consumer financing through a six- month equated monthly instalment scheme.
5. The RBI has asked banks to inform customers that they have the option of tendering cheques at the counters and obtain acknowledgement. "Banks are, therefore, advised to invariably display on the cheque drop box itself that `Customers can also tender the cheques at the counter and obtain acknowledgement on the pay-in slips'."
6. Federal Bank continues to be on the prowl for acquisitions and is in talks with some private sector banks in Tamil Nadu and Karnataka. According to Chairman and CEO Mr M. Venugopalan said: "Mergers are a necessity if small banks are to remain competitive."
7. Banks will have to report separately their corporate or wholesale and retail business exposures effective September 30, 2007 to RBI. Till now banks were required to report on three business segments — treasury, other banking business and residual. As the other banking business segment is considered too broad, the RBI has decided to split it into three categories: corporate or wholesale banking, retail banking and other banking operations.
8. ICICI Bank's savings account customers can use any bank's ATM free of charge, giving access to over 18,000 ATMs. To avail oneself of the free usage facility, the customer has to maintain a quarterly average balance of Rs 10,000. While the customer will be charged at the time of the transaction, all charges will be reversed in the subsequent quarter.
9. The combined market share of the SBI, its associates and other PSBs in bank deposits fell by 8 % points between June 2001 and June 2006; from 82% to 74 %.Deposits of all banks (other than RRBs) more than doubled over this period, from Rs 9,30,000 crs to Rs 21,01,000 crs. If SBI, its associates and other public sector banks had not lost so much ground, their deposits in 2006 would have been Rs 1,73,000 crs larger than they actually were. Private sector banks were the beneficiaries. Their share in total deposits went up 8%.
2. SBI has signed a MoU with Suguna Poultry Farm Ltd, a major integrated broiler producer and marketer, for financing the contract poultry farming run under the latter's fold. It will facilitate extending bank credit for the existing as well as new poultry farmers in contract with the Suguna Poultry through a central arrangement on a tailor-made scheme. This will obviate the need for farmers going for independent loan proposals and the connected hassles.
3. There has been no impact on credit growth and non-performing assets till now, post interest rate hike. ICICI Bank was the first bank to raise its lending rates by almost 50 bps after the hike in cash reserve ratio by the RBI.
4. ICICI Bank has launched a co-branded credit card along with ‘X Box 360’. The tie-up enables easy consumer financing through a six- month equated monthly instalment scheme.
5. The RBI has asked banks to inform customers that they have the option of tendering cheques at the counters and obtain acknowledgement. "Banks are, therefore, advised to invariably display on the cheque drop box itself that `Customers can also tender the cheques at the counter and obtain acknowledgement on the pay-in slips'."
6. Federal Bank continues to be on the prowl for acquisitions and is in talks with some private sector banks in Tamil Nadu and Karnataka. According to Chairman and CEO Mr M. Venugopalan said: "Mergers are a necessity if small banks are to remain competitive."
7. Banks will have to report separately their corporate or wholesale and retail business exposures effective September 30, 2007 to RBI. Till now banks were required to report on three business segments — treasury, other banking business and residual. As the other banking business segment is considered too broad, the RBI has decided to split it into three categories: corporate or wholesale banking, retail banking and other banking operations.
8. ICICI Bank's savings account customers can use any bank's ATM free of charge, giving access to over 18,000 ATMs. To avail oneself of the free usage facility, the customer has to maintain a quarterly average balance of Rs 10,000. While the customer will be charged at the time of the transaction, all charges will be reversed in the subsequent quarter.
9. The combined market share of the SBI, its associates and other PSBs in bank deposits fell by 8 % points between June 2001 and June 2006; from 82% to 74 %.Deposits of all banks (other than RRBs) more than doubled over this period, from Rs 9,30,000 crs to Rs 21,01,000 crs. If SBI, its associates and other public sector banks had not lost so much ground, their deposits in 2006 would have been Rs 1,73,000 crs larger than they actually were. Private sector banks were the beneficiaries. Their share in total deposits went up 8%.
