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Banking Economy

RBI proposes foreign investment in pvt banks below 50%

The Reserve Bank on Wednesday suggested lowering the foreign investment limit in new private sector banks to below 50 per cent from 74 per cent currently, in order to strengthen the local banks. “This would enable foreign capital to be used in the promotion of domestic banks … This would allow for foreign technical collaboration […]

Banking

ICICI Bank signs pact for SMX Clearing and Settlement Membership

ICICI Bank Limited has entered into an agreement for clearing and settlement banking membership of Singapore Mercantile Exchange (SMX). This membership will enable ICICI Bank to provide clearing and settlement processing services to facilitate settlement of transactions executed on SMX. This membership will also facilitate ICICI Bank to provide a platform to the commodity market […]

Banking

Barclays strengthens its ATM network in Mumbai and Delhi

Mumbai: (India Prwire) Barclays, a leading global financial services provider, today announced that it will add 30 new off site ATMs in Mumbai and Delhi. These ATMs will be set up starting from the month of August 2010. The ATMs are being installed to increase Barclays reach and presence across these cities, further increasing the […]

Banking

Corporation Bank signs agreement with UIDAI

State-owned Corporation Bank Thursday said it has signed a memorandum of understanding (MoU) with Unique Identification Authority of India to act as Registrars for unique identification project ‘Aadhar’. As per the agreement, the bank would enroll customers for issuing a 16-digit unique identification number by collecting biometric and demographic details as per UID norms, Corporation […]

Banking Uncategorized

Lakshmi Vilas Bank to raise domestic term deposits rates

Lakshmi Vilas Bank has raised the interest rates on domestic term deposits from 181 days onwards to up to 2 years with effect from the 2nd of August, 2010. • The term deposit rate for 181-270 days has been raised by 50 basis points to 6.25% from 5.75% currently. • For deposits of 271-364 days […]

Banking

SANJAYA GUPTA APPOINTED MD OF PNB HOUSING FINANCE

The Board of PNB Housing Finance Ltd has recently appointed Mr. Sanjaya Gupta as the new MD of the Company .The appointment of the new Managing Director also marks the completion of Destimoney’s investment of Rs. 215 crores in the Company, which will take its total stake holding to 49%. Mr. Sanjaya Gupta is a […]

Banking Finance

Asian Development Bank cautious on East Asia recovery

The Asian Development Bank (ADB) on Tuesday was cautious on robust economic recovery experienced by the emerging East Asian economies, saying it was too early to know if the worst was over. “While most emerging East Asian economies are assured of a sharp V-shaped recovery this year, it is too early to say that the […]