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Banking

Deadline for banks to allot unique ID to customers extended

The Reserve Bank has extended the deadline for banks to complete the process of allotting a unique customer identification code to their customers to 31st March, 2014. Banks, however, will have to allot the Unique Customer Identification Code (UCIC) to all customers while entering into new relationships. RBI said some banks had expressed difficulties in […]

Banking

First Annual International Islamic Banking and Development Conference in Mozambique

Cairo: The Government of Mozambique and the Arab African Council on Socioeconomic Development (AACSED), invited Institutions and delegates will participate in the historic launch of the Islamic American Banking Association (IABA) and join the historic “Maputo Declaration” on conventional and Islamic banking partnership in the developing world. More than 600 banks, financial institutions, government officials […]

Banking

IndusInd Bank Iconia American Express Card Launched

Mumbai : IndusInd Bank and American Express on Thursday announced the formation of a strategic partnership and launch of the IndusInd Bank Iconia American Express Card. This is IndusInd Bank’s first American Express-branded credit card product on the American Express network and offers strong rewards and lifestyle benefits catering to the needs of affluent customers. […]

Banking

IT Dept. issues notices to 3 private banks for alleged money laundering

Income Tax department has issued notices to three top private banks in connection with alleged money laundering charges levelled by an online portal. The banks are ICICI Bank, Axis Bank and HDFC Bank. The department has asked these banks to produce documents for verification as part of its tax evasion probe. The notices have been […]

Banking Finance

HDFC Life launches Swabhimaan Careers for deceased policyholder’s family

Mumbai : HDFC Life, India’s leading long-term insurance solutions provider has announced the launch of Swabhimaan Careers – an initiative to build long-term relationship with customers by offering employment opportunity to the deceased policyholder’s family. Under this initiative, HDFC Life will pro-actively reach out to the policyholder’s dependants post settlement of a claim and consider […]

Banking

FM inaugurates Dena Bank’s Platinum Jubilee celebrations

By Sachin Murdeshwar Mumbai : Hon. Union Finance Minister P. Chidambaram graced the platinum jubilee celebrations of Dena Bank, India’s Trusted Family Bank, as the Bank celebrated 75 years of Banking Excellence since it was founded by late Shri Pranlal Devkaran Nanjee. Dena Bank’s Chairman & Managing Director Shri Ashwani Kumar and Executive Director Shri A. K. […]

Banking

ICICI Bank inaugurates 24 x 7 Electronic Lounge in Shimla

Shimla: ICICI Bank Ltd on Monday inaugurated a 24 x 7 Electronic Lounge in Shimla to provide simple, effortless and convenient banking to customers round-the-clock. The new Electronic Lounge, which is set up at 3, Argyle House, Opposite Lift, The Mall, Shimla, is not just the first one in the city, but also the first […]

Banking

Chidambaram inaugurates Canara Bank’s new Mumbai Circle office in BKC

Mumbai : Union Finance Minister P. Chidambaram inaugurated Canara Bank’s Mumbai Circle Office at Bandra Kurla Complex on Saturday. Canara Bank, one of the premier Nationalised Banks in the country with a business of over Rs. 6 lakh crore, has a business level of over Rs.1 lakh crore and 130 branches spread across Mumbai. The […]

Banking

SBI Q4 FY13 net profit down by 19% at Rs32.99bn

By Our Representative Mumbai : Public sector lender State Bank of India (SBI) net profit declined 19% to Rs. 32.99 billion for the quarter ended March 31, 2013 from Rs. 40.50 billion for the same period previous fiscal. The number has come in higher than IIFL’s expectations of Rs. 37.84 billion. Total income increased to […]

Banking

Indian Bank Net Profit Down15.4 per cent @ Rs 292.12 crore

By Sachin Murdeshwar Mumbai : Chennai based, Indian Bank has reported 15.4 per cent fall in net profit at Rs 292.12 crore for the fourth quarter ending March 31, 2013. The city-based public sector bank’s net profit stood at Rs 345.41 crore during the corresponding period of previous year. The drop in net profit is […]