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Banking

RBI directs banks to periodically audit and verify documents of all credits of 5 crore rupees and above till loan is re-paid

Reserve Bank of India,RBI, has directed banks to periodically audit and re-verify documents of all credits of 5 crore rupees and above till the loan is fully repaid. In a notification issued in Mumbai, the RBI said banks should provide quarterly review note of such audits, including information like number of accounts where rectification […]

Banking

SIDBI commits Rs. 10-cr to DICCI SME Fund for Dalit entrepreneurs

Mumbai : SIDBI, the apex financial institution for promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs), has become the first financial institution (FI) to support the first-of-its-kind DICCI SME Fund for investment in companies promoted by SC/ST entrepreneurs. In the presence of Union Finance Minister Shri P. Chidambaram, SIDBI’s Chairman and Managing […]

Banking

ICICI Bank Gorakhpur branch celebrates 1st anniversary

Gorakhpur: ICICI Bank Ltd, India’s largest private sector bank, today celebrated the first anniversary of its branch at Jaidev Bhavan, Gorakhnath, Gorakhpur. The Chief Guest at the occasion was Smt. Satya Pandey, Hon’ble Mayor of Gorakhpur. The branch is open for customer transactions from 9:00 am to 6:00 pm on Monday to Friday and 9.00 […]

Banking

RBI Governor for increasing surveillance, regulations against ponzi schemes

In the wake of ponzi schemes and chit fund scams, Reserve Bank Governor D Subbarao on Wednesday said there is a need to review the regulations governing these sectors and increase surveillance on such entities. “There is a need to review the regulatory oversight of this sector keeping in view the mandatory and relative comparative […]

Banking

Central Bank distributed Rupay Cards to farmers

M.V. Tanksale, Chairman & Managing Director of Central Bank of India distributed Rupay Cards to the farmers of Parner Tehsil, Distt Ahmednagar. Bank is extending its services through 7 branches of this block. Speaking on the occasion Shri Tanksale said that Central Bank of India is committed for the progress of Farmers, Labourers and Poor […]

Banking

ICICI Bank organises ‘Kisan Sampark’ in Punjab, Haryana

Ludhiana: ICICI Bank Limited ‘Kisan Sampark Programme’ in Punjab and Haryana on 4 June, as part of its financial inclusion plan that aims at providing banking services in unbanked villages. The Kisan Sampark Programme was simultaneously conducted in 100 villages and saw attendees from over 400 villages of Ludhiana, Amritsar and Ambala. At this mela, […]

Banking

Inflation-indexed bonds subscribed fully in RBI auction

Institutional investors fully subscribed the first tranche of inflation indexed bonds (IIBs) worth Rs 1,000 crore auctioned by the Reserve Bank of India on Tuesday. The central bank set a real yield at 1.44 percent for those 10-year government securities maturing in 2023. With a real yield at 1.44 percent, the coupon rate will be […]

Banking

PBI Announces Winners for Greater China Awards 2013

Singapore: Private Banker International (PBI), the leading journal for the global wealth management industry has announced the winners for the 2013 Private Banker International Greater China Awards, held in conjunction with the PBI Forum. The PBI awards are regarded as the most credible in the industry, voted by the industry for the industry. Nicholas Moody, […]

Banking

Central Bank Of India Renewed the CBS agreement with Tata Consultancy Services

Central Bank of India, one of the leading Public Sector Banks in the country, has renewed the CBS agreement with Tata Consultancy Services. The CBS renewal agreement was exchanged between the Bank and TCS. On the occasion, Central Bank of India was represented by Shri.M.V.Tanksale, Chairman & Managing Director along with the top management of the Bank and Tata […]

Banking

RBI issues clarification on new banks licence

The Reserve Bank on Monday said in- principle approval for setting up of new banks will now be valid for 18 months, up from earlier proposed one year, those seeking to set up a bank would have to submit applications by 1st July 2013. Issuing clarification to queries on new bank licences, the RBI on […]