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Banking

YES Bank Selects Triple Point to Manage Bullion Business

Pune, Maharashtra : Triple Point Technology, the leading global provider of cloud and on-premise Commodity Management software, announced today that YES Bank has licensed its Commodity XL for Precious Metals™ software to manage gold and silver bullion wholesale and retail distribution operations. YES Bank is one of the top five largest private sector banks in […]

Banking

ICICI Bank and TATA Teleservices launch remittance services

Hyderabad : ICICI Bank Ltd, India’s largest private sector bank and MMP Mobi Wallet Payment Systems, a 100% subsidiary of Tata Teleservices Ltd., one of the leading Mobile Network Operators in India, today announced a strategic tie up to launch a money transfer service. Mr. Rajiv Sabharwal, Executive Director, ICICI Bank and Mr. N Srinath, […]

Banking

More Multinational Banks opt Wolters Kluwer for RBI Compliance

Mumbai : Wolters Kluwer Financial Services announced today that two multinational banks with operations in India have selected its Automated Data Flow (ADF) solution to meet the Reserve Bank of India’s (RBI) regulatory reporting requirements. With this, a total of 10 global banking and financial services institutions have chosen Wolters Kluwer Financial Services, resulting in […]

Banking

Swiss proposes new bill to check black money flow

Switzerland has proposed a new bill to prevent its banks and other institutions from accepting black money from their clients and put in place a stricter due diligence regime. The Switzerland Federal Council, the apex decision making body of Swiss government, has asked its Finance Ministry to submit a consultation draft at the start of […]

Banking

RBI says direct cash transfer can help control inflation

RBI Deputy Governor, KC Chakrabarty said in Mumbai on Friday that the Central Government’s ambitious direct cash transfer scheme will play a crucial role in reducing the fiscal deficit and controlling inflation in the country. Describing the scheme as a “power tool” the senior most of the four RBI deputy governors explained that the scheme […]

Banking

Carney surprise choice to head UK’s Central Bank

Mark Carney has been named as the new Governor of the Bank of England by Chancellor George Osborne. Mr Carney, the Governor of the Canadian central bank, will serve for five years and will hold new regulatory powers over banks. He was a surprise choice for the head of the UK’s Central Bank and had […]

Banking

RBI cuts CRR by 0.25%, keeps key rates unchanged

The Reserve Bank of India released the second quarter review of monetary policy 2012-13. In order to release liquidity into the system to support growth and credit lending to productive sectors the RBI has reduced the Cash Reserve Ratio – CRR by 25 basis points from 4.50 per cent to 4.75 per cent. The CRR […]

Banking

BANK OFINDIA – The new rates on home loans will be 10.50% for limit upto Rs.30 lacs

by NR INDRAN / INT Bank of India is extending reduced interest rates on new home loans, vehicle loans and secured personal loans contracted during the festive period till 31.12.2012. The reduction varies from 0.15 to 0.50% on new home loans , 1.30% for new vehicle loans, 1% for new second hand vehicle loans and […]

Banking Breaking News

SBI to decide on lending rates in a day or two

Within hours of RBI cutting the cash reserve ratio by 0.25 per cent, State Bank of India (SBI) said it will decide on reducing lending rates in a day or two for the benefits of borrowers. “Our Asset Liability Committee (ALCO) will meet tomorrow or day after tomorrow to review interest rates…Transmission of monetary policy […]

Banking

RBI cuts CRR by 0.25 pc, releases Rs 17,000 cr liquidity

Mumbai : Taking a cautious stance, the Reserve Bank on Monday cut CRR by 0.25 percent – the percentage of deposits banks keep with central bank – but refrained from reducing lending rates in view high inflation. The RBI decision, which comes days after a slew of measures taken by the government to push growth, […]