RBI
asks banks to build up cash
Mumbai: The Reserve Bank of India has
asked banks to maintain additional cash reserves so that
all cash transactions are effected during the century
date change period.
The RBI said in a circular
that banks should plan to build up their cash inventory
well in advance in order to obviate the bottlenecks arising
from the logistics of indenting, movement and distribution
of currency notes. The RBI's issue offices will be ready
to service the requirement of banks to enable them to
commence building currency stocks from October, the central
bank has said.
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Citicorp
net banking solution for HDFC Bank
Mumbai: Citicorp Information Technology
Industries has announced the successful implementation
of its internet banking solution, Flexcube@ at HDFC Bank.
The solution is designed
to enable financial institutions exploit the web. The
system is built on a scalable and secure component architecture
and has been tuned to integrate well with back end banking
solutions.
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