canara bank software subsidiary looks overseas
bangalore: canara bank’s wholly-owned subsidiary – canbank computer services, which is acting as registrar and transfer agent and also develops software, will start selling it overseas, to begin with, in the west asian markets.

the bank management feels that the domestic market alone may not be a viable proposition. its software products include integrated branch banking software and the automatic ledger processing machine.

banks see decline in credit growth
mumbai: bank credit has fallen to rs.6,025 crore in the four months of the financial year 1999-2000, as against rs.6,711 crore, in the same period, last fiscal. this marks a fall from 1.8 per cent growth to 1.6 per cent. during the fortnight ended 16 july 1999, deposits grew by rs.6,770 crore.

lower lending and higher deposits has meant that there is increased trading in government securities.

gic to restructure schemes
calcutta: general insurance corporation is all set to scrap its non-productive schemes, as part of its revamp exercise. the corporation is giving final shape to the plans.
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