Mottos for Success-272
"Everything's in the mind. That's where it all starts. Knowing what you want is the first step toward getting it."
1. The NRI business is seasonal and picks up in the second half due to arrival of NRIs during Christmas and New Year by around 50%. ICICI bank will offer a special deposit scheme for NRIs during December-February. For a three-year deposit, denominated in rupee, the customer will get an interest rate of 6.24% p.a. NRIs contribute around 15% to the bank's retail portfolio. The alternate returns for most monies parked overseas in dollars will be around 3.5%to 4%.
2. HDFC bank will offer investment counselling and advisory services coupled with free online investment accounts in all its branches, for NRIs.
3. The Mangalore branch of UTI Bank is observing `NRI Fest' till January 20. It is organising the festival to publicise the bouquet of products and services offered to non-resident Indians.
4. Banks such as ABN-Amro Bank are running promotion campaigns at the banks' branches.
5. OBC has announced an increase in its prime lending rate (PLR) by 25 bps from 11.50% to 11.75% with effect from January 15, 2007. The PLR was last raised by 50 bps to 11.5% in May 15, 2006. The interest rates on domestic term deposits have been hiked between 25 bps and 100 bps across all maturities with effect from December 23.
6. In order to bring down the total amount that a passenger would pay for booking train tickets using ATMs, the Railways is in talks with several banks to lower the charges for accessing ATMs for ticket booking.
7. Standard Chartered Bank plans to set up an ARC in the first quarter of next year. The ARC will be jointly promoted by Standard Chartered and a few large Indian banks. Through the ARC, Standard Chartered will manage loan portfolios and securitisation of the partner banks. There will be no overseas company contributing either capital or expertise to the proposed ARC. However, the ARC may later partner with regional banks to gain expertise on local markets.
8. PNB has entered into an ATM sharing arrangement with the Everest Bank of Nepal, enabling customers of both the banks to access each other's ATM network at what is being described as a "reasonable" cost. High capital expenditure and recurring maintenance expenses are compelling banks to share ATM network so that their customers can use ATMs of other banks also at a reasonable cost. PNB is already sharing its 870 ATMs under various ATM sharing arrangements, but these arrangements are within India. The tie-up with Everest Bank is hailed as the first cross-border ATM sharing arrangement entered into by any bank in India. For the first time in India, a bank would use domestic network for transaction sharing with a foreign bank.
9. The Kerala Government has adjudged Canara Bank as the best bank for implementation of the PMRY scheme in the State during 2004-05. This is the second consecutive year that Canara Bank has been chosen for the award.
10. Bank of Maharashtra has decided to establish a three-way venture for general insurance with Shriram Financial Services Holdings and Sanlam of South Africa. The bank will hold equity of 15%.
11.PNB has announced an increase in interest rates on fixed deposits by 25 to 75 bps under different time slabs with effect from December 26. The bank has this time round gone in for an extensive revision that covered as many as 10 different time slabs.
"Everything's in the mind. That's where it all starts. Knowing what you want is the first step toward getting it."
1. The NRI business is seasonal and picks up in the second half due to arrival of NRIs during Christmas and New Year by around 50%. ICICI bank will offer a special deposit scheme for NRIs during December-February. For a three-year deposit, denominated in rupee, the customer will get an interest rate of 6.24% p.a. NRIs contribute around 15% to the bank's retail portfolio. The alternate returns for most monies parked overseas in dollars will be around 3.5%to 4%.
2. HDFC bank will offer investment counselling and advisory services coupled with free online investment accounts in all its branches, for NRIs.
3. The Mangalore branch of UTI Bank is observing `NRI Fest' till January 20. It is organising the festival to publicise the bouquet of products and services offered to non-resident Indians.
4. Banks such as ABN-Amro Bank are running promotion campaigns at the banks' branches.
5. OBC has announced an increase in its prime lending rate (PLR) by 25 bps from 11.50% to 11.75% with effect from January 15, 2007. The PLR was last raised by 50 bps to 11.5% in May 15, 2006. The interest rates on domestic term deposits have been hiked between 25 bps and 100 bps across all maturities with effect from December 23.
6. In order to bring down the total amount that a passenger would pay for booking train tickets using ATMs, the Railways is in talks with several banks to lower the charges for accessing ATMs for ticket booking.
7. Standard Chartered Bank plans to set up an ARC in the first quarter of next year. The ARC will be jointly promoted by Standard Chartered and a few large Indian banks. Through the ARC, Standard Chartered will manage loan portfolios and securitisation of the partner banks. There will be no overseas company contributing either capital or expertise to the proposed ARC. However, the ARC may later partner with regional banks to gain expertise on local markets.
8. PNB has entered into an ATM sharing arrangement with the Everest Bank of Nepal, enabling customers of both the banks to access each other's ATM network at what is being described as a "reasonable" cost. High capital expenditure and recurring maintenance expenses are compelling banks to share ATM network so that their customers can use ATMs of other banks also at a reasonable cost. PNB is already sharing its 870 ATMs under various ATM sharing arrangements, but these arrangements are within India. The tie-up with Everest Bank is hailed as the first cross-border ATM sharing arrangement entered into by any bank in India. For the first time in India, a bank would use domestic network for transaction sharing with a foreign bank.
9. The Kerala Government has adjudged Canara Bank as the best bank for implementation of the PMRY scheme in the State during 2004-05. This is the second consecutive year that Canara Bank has been chosen for the award.
10. Bank of Maharashtra has decided to establish a three-way venture for general insurance with Shriram Financial Services Holdings and Sanlam of South Africa. The bank will hold equity of 15%.
11.PNB has announced an increase in interest rates on fixed deposits by 25 to 75 bps under different time slabs with effect from December 26. The bank has this time round gone in for an extensive revision that covered as many as 10 different time slabs.
