APN News

  • Saturday, June, 2023| Today's Market | Current Time: 12:46:11
  • Mukesh D. Ambani Named a Director of Bank of America Corporation

    United States: The Bank of America Corporation Board of Directors has appointed as a director Mukesh D. Ambani, chairman and managing director of India-based Reliance Industries Limited. Ambani will stand for election at the 2011 Bank of America annual meeting of shareholders. “Bank of America’s shareholders will benefit from the global perspective Mr. Ambani brings […]

    RBI raises short-term lending and borrowing rates by 25 basis points each

    The Reserve Bank on Thursday raised its short term lending and borrowing rates, for the eighth time since March 2010, by 25 basis points in a bid to rein in inflation. The short term lending rate (repo) has been increased from 6.50 per cent to 6.75 per cent, while the short-term borrowing rate (reverse repo) […]

    Punjab National Bank Standardises IT Infrastructure on Infosys and Oracle

    New Delhi : Punjab National Bank (PNB), India’s second largest public sector bank, has become the world’s largest site for Infosys’s FinacleTM Universal Banking Solution running on Oracle Real Application Clusters, Oracle’s Sun SPARC Enterprise Servers and Oracle Solaris. Catering to over 60 million accounts, over 5000 branches and extension counters and managing nearly 14 […]

    Play pro-active role in achieving double digit growth: FM to banks

    Finance Minister Pranab Mukherjee has called upon the banks to play a pro-active role in achieving double digit growth. Addressing a function in New Delhi, he said that lending to the agricultural sector is still a matter of concern and asked the banks to step up direct lending for agriculture and credit to small and […]

    HCL Infosystems Bags another Prestigious Financial Inclusion Project from Punjab and Sind Bank under its Systems Integration BFSI Practice

    New Delhi : HCL Infosystems Ltd., India’s premier Hardware, Services and ICT System Integration Company, today announced the awarding of an order from Punjab and Sind Bank (PSB) to provide smart card based solutions in over 1500 villages across the country. The partnership aims to facilitate the provision of smart card-based technology solutions for financial […]

    Indians Most Likely to Adopt Payment Card Fraud Solutions

    India: Indians are significantly more willing to take precautions against card fraud than other markets in Asia Pacific, according to the Visa Payment Card Security Study. The Visa Payment Card Security study is an independent, in-depth consumer survey in markets across the Asia Pacific region, reviewing attitudes towards electronic payments security, actions that can be […]

    RBI sets up panel to examine regulation of NBFC sector

    The Reserve Bank has announced setting up of a working group to examine issues pertaining to regulation of the NBFCs (Non-banking Finance Companies) sector, including their governance and supervision. The Group to be headed by former Deputy Governor Usha Thorat, who is presently Director of Centre for Advanced Financial Research and Learning (CAFRAL), will focus […]

    IDBI Federal launches Retiresurance Guaranteed Pension Plan

    Bhopal: Seeking to insure the consumption-heavy generation from possible future shocks and to help them keep pace with inflation, one of the fastest growing private insurers, IDBI Federal Life Insurance has launched Retiresurance® Guaranteed Pension Plan, a unique retirement plan which comes with the twin benefits of guaranteed accumulation with attractive annuities. IDBI Federal Retiresurance® […]

    Banks need to offer higher interest to encourage savings: RBI

    Banks need to raise deposit rates in order to encourage savings, and lower lending rates to help the country achieve double-digit growth, RBI Governor D Subbarao said today. “For double-digit growth that we aspire, we need to save so that we can invest more. For that to happen, we need to encourage savings, which means […]

    Axis Bank signs MOU with Indian Army for Power Salute Salary Account

    Mumbai : Axis Bank, India’s third largest private bank, today signed a Memorandum of Understanding (MoU) with the Indian Army for the Power Salute, a salary account exclusively for the Army personnel. The MoU was signed by Lt General V K Chaturvedi, PVSM, AVSM, SM, Director General (MP & PS), Indian Army and Mr. S. […]