1. ICICI Bank has begun work on a 44-storey building in the Financial District on the outskirts of Hyderabad at Rs 1,000 crs.The project, which is being taken on an eight-acre site, once completed would employ 25,000 people.It is expected to house important tasks such as back-end operations and disaster recovery facilities. The Financial District has started attracting global corporate giants such as UBS and Franklin Templeton. The Financial District would emerge as the Wall Street of India. The State Govt. has earmarked over 100 acres,that would house banking, insurance, financial and allied Cos.
2. SBI plans to recruit staff for frontline operations. Around 3,000 to 5,000 frontline staff would be recruited in the next fiscal. The process of recruitment has already begun, and it may take a few months time. In its effort to reach out to in unbanked areas, SBI is planning to set up 1 lakh kiosks in rural areas. SBI also intends to introduce biometric cards in rural areas.It has released the SBI-Manipal University Combo Card at Manipal.
3. Karnataka Bank Ltd has launched a distinct savings bank account product under the name `S.B. Soulabhya'. The holders of `SB Soulabhya' account will have various privileges and can avail themselves of a host of services and facilities free of service charges. The new scheme provides facilities such as access to the bank's ATMs free of charge, anywhere cash withdrawals, anywhere cash deposit, debit card facility, Internet banking facility, mobile banking, demat account, cheque collection facility, multi-city cheque facility. It has opened its 405th branch at Panipat.
4. Indian Bank has opened a branch at Dharavi, Asia's largest slum in Mumbai, with core banking facilities and online ATM. The basic objectives are to bring people into the institutional framework and provide all banking products such as "no-frills" savings bank account, small overdrafts, general credit cards and life and medical insurance for promoting viable economic activity. The branch has 6417 no-frills account and has mobilized Rs 51.60 lakh. Apart from traditional banking products, the bank also plans to offer pension and mutual fund products.
5.SBH has decided not to increase the existing rate of interest on both housing and education treating them under the priority sector loan category. The bank has revised the BPLR by 50 bps, up from 12% to 12.5%, effective from February 19.
6. Vijaya Bank has announced its decision to increase its benchmark prime lending rate to 12.25%t. The increase of 50 bps will be effective from Feb 15.
7. Centurion Bank of Punjab has raised the PLR by 100 bps to 14.50%, from March 1.
8. UTI Bank Ltd will raise up to Rs 970 crs in one or more tranches by issuing upper Tier II debentures and/or subordinated Tier II debentures. Latter would not exceed Rs 303 crs. 9. Dr P.J. Nayak will continue as CMD of UTI Bank for two more years, effective from August 1, 2007 to July 31, 2009.
2. SBI plans to recruit staff for frontline operations. Around 3,000 to 5,000 frontline staff would be recruited in the next fiscal. The process of recruitment has already begun, and it may take a few months time. In its effort to reach out to in unbanked areas, SBI is planning to set up 1 lakh kiosks in rural areas. SBI also intends to introduce biometric cards in rural areas.It has released the SBI-Manipal University Combo Card at Manipal.
3. Karnataka Bank Ltd has launched a distinct savings bank account product under the name `S.B. Soulabhya'. The holders of `SB Soulabhya' account will have various privileges and can avail themselves of a host of services and facilities free of service charges. The new scheme provides facilities such as access to the bank's ATMs free of charge, anywhere cash withdrawals, anywhere cash deposit, debit card facility, Internet banking facility, mobile banking, demat account, cheque collection facility, multi-city cheque facility. It has opened its 405th branch at Panipat.
4. Indian Bank has opened a branch at Dharavi, Asia's largest slum in Mumbai, with core banking facilities and online ATM. The basic objectives are to bring people into the institutional framework and provide all banking products such as "no-frills" savings bank account, small overdrafts, general credit cards and life and medical insurance for promoting viable economic activity. The branch has 6417 no-frills account and has mobilized Rs 51.60 lakh. Apart from traditional banking products, the bank also plans to offer pension and mutual fund products.
5.SBH has decided not to increase the existing rate of interest on both housing and education treating them under the priority sector loan category. The bank has revised the BPLR by 50 bps, up from 12% to 12.5%, effective from February 19.
6. Vijaya Bank has announced its decision to increase its benchmark prime lending rate to 12.25%t. The increase of 50 bps will be effective from Feb 15.
7. Centurion Bank of Punjab has raised the PLR by 100 bps to 14.50%, from March 1.
8. UTI Bank Ltd will raise up to Rs 970 crs in one or more tranches by issuing upper Tier II debentures and/or subordinated Tier II debentures. Latter would not exceed Rs 303 crs. 9. Dr P.J. Nayak will continue as CMD of UTI Bank for two more years, effective from August 1, 2007 to July 31, 2009.
