Mottos for Success-274
“The successful individual realizes self mastery; one with self mastery enjoys all riches.”
1.Corporation Bank and the UAE Exchange jointly conducted a training programme on `CorpXpress Money Services' for non-resident Indians.
2. The India Infrastructure Company Ltd (IIFCL) has received sovereign guarantees for raising Rs 5,000 crs for funding big-ticket projects in the country.It has signed a MOU with the three public sector banks, Canara Bank, Vijaya Bank and Syndicate Bank. It has the option of raising the funds either from the domestic or international markets.
3. Vijaya Bank plans to expand its `DD Shoppe', in all cities with high market activity in the next few months. It also wants to raise Rs 500 crs tier II funds and reach the 1000 branch network milestone by March 2007. The Demand Draft Shoppe, which gives customers the advantage of getting the draft up to 6 p.m., against the normal 3 p.m. will be opened in Mumbai, Chennai, Bangalore, New Delhi and Hyderabad to start with.
4. SBI has launched a signature-based international debit card with MasterCard, called the SBI Gold Debit MasterCard, for its customers maintaining an average quarterly balance of Rs 50,000.
5. Puducherry has now become the first State in the country to become fully covered under the Financial Inclusion Programme. The project pioneered by Indian Bank in coordination with other banks has been completed ahead of the targeted deadline of Dec 31.It involves ensuring every household in every village has at least one bank account, thereby gaining access to banking services.
6. The Nizamabad District Co-op Central Bank Ltd has announced a bancassurance tie-up with Aviva Life Insurance. Under this it will now provide insurance products from Aviva to its customers.
7. The Tamil Nadu Government has slashed interest rates on non-agriculture loans from cooperative banks to 12% from 18%.Penal interest has also been cut to 1.5%from 3%. The cut in interest rates will benefit all borrowers in the cooperative sector from the Primary Agriculture Cooperative Banks to the Tamil Nadu State Apex Cooperative Bank.
8. SBH has decided to increase its benchmark prime lending rate (BPLR) by 50 bps from 11.50% to 12%. The hike will be effective from December 28.
9. Syndicate Bank's debt refinance product aimed at indebted farmers has taken off successfully barely three months after it was launched. This product has been highly successful, among the farm community.Till date the bank had disbursed Rs 295 crs all over the country through the product branded as "Jaikisan''. Jaikisan is a farm loan mortgage product to help indebted farmers to refinance all their outstanding dues to unorganised moneylenders. It is made available to the farmers on conditions that they do not create fresh debts with these moneylenders. It is priced at close to 11%, on a reducing balance.
10. ICICI Bank will organise a one-day programme to issue fresh currency notes and coins of various denominations to the public as part of the Reserve Bank of India's clean note policy.
11.Allahabad Bank is focussing on the need to increase its retail credit portfolio. In pursuance of this objective, its Kolkata Metro zonal office has organised credit camps at strategic locations. The bank has come out with a bouquet of retail credit products such as car loans, loans against rent receivables, loans against property, saral loans, loans for purchase of jewellery, housing loans and education loans.
“The successful individual realizes self mastery; one with self mastery enjoys all riches.”
1.Corporation Bank and the UAE Exchange jointly conducted a training programme on `CorpXpress Money Services' for non-resident Indians.
2. The India Infrastructure Company Ltd (IIFCL) has received sovereign guarantees for raising Rs 5,000 crs for funding big-ticket projects in the country.It has signed a MOU with the three public sector banks, Canara Bank, Vijaya Bank and Syndicate Bank. It has the option of raising the funds either from the domestic or international markets.
3. Vijaya Bank plans to expand its `DD Shoppe', in all cities with high market activity in the next few months. It also wants to raise Rs 500 crs tier II funds and reach the 1000 branch network milestone by March 2007. The Demand Draft Shoppe, which gives customers the advantage of getting the draft up to 6 p.m., against the normal 3 p.m. will be opened in Mumbai, Chennai, Bangalore, New Delhi and Hyderabad to start with.
4. SBI has launched a signature-based international debit card with MasterCard, called the SBI Gold Debit MasterCard, for its customers maintaining an average quarterly balance of Rs 50,000.
5. Puducherry has now become the first State in the country to become fully covered under the Financial Inclusion Programme. The project pioneered by Indian Bank in coordination with other banks has been completed ahead of the targeted deadline of Dec 31.It involves ensuring every household in every village has at least one bank account, thereby gaining access to banking services.
6. The Nizamabad District Co-op Central Bank Ltd has announced a bancassurance tie-up with Aviva Life Insurance. Under this it will now provide insurance products from Aviva to its customers.
7. The Tamil Nadu Government has slashed interest rates on non-agriculture loans from cooperative banks to 12% from 18%.Penal interest has also been cut to 1.5%from 3%. The cut in interest rates will benefit all borrowers in the cooperative sector from the Primary Agriculture Cooperative Banks to the Tamil Nadu State Apex Cooperative Bank.
8. SBH has decided to increase its benchmark prime lending rate (BPLR) by 50 bps from 11.50% to 12%. The hike will be effective from December 28.
9. Syndicate Bank's debt refinance product aimed at indebted farmers has taken off successfully barely three months after it was launched. This product has been highly successful, among the farm community.Till date the bank had disbursed Rs 295 crs all over the country through the product branded as "Jaikisan''. Jaikisan is a farm loan mortgage product to help indebted farmers to refinance all their outstanding dues to unorganised moneylenders. It is made available to the farmers on conditions that they do not create fresh debts with these moneylenders. It is priced at close to 11%, on a reducing balance.
10. ICICI Bank will organise a one-day programme to issue fresh currency notes and coins of various denominations to the public as part of the Reserve Bank of India's clean note policy.
11.Allahabad Bank is focussing on the need to increase its retail credit portfolio. In pursuance of this objective, its Kolkata Metro zonal office has organised credit camps at strategic locations. The bank has come out with a bouquet of retail credit products such as car loans, loans against rent receivables, loans against property, saral loans, loans for purchase of jewellery, housing loans and education loans.
