Corporation Bank launches net banking
Mumbai: The Corporation Bank has launched Internet banking facility for its corporate customers to speed up their cash collection and payments services (CAPS). The bank presently has ten CAPS branches catering to cash management needs of over 900 corporate clients. The new facility would help reduce client’s interest costs and eliminate reconciliation hassles, Mr Cherian Varghese, chairman and managing director has stated.

The bank is also planning to extend this facility to its retail customers through automated branches in the next few months, based on feedback from companies on its net banking initiative.

Corporation Bank has transacted business worth Rs 23,000 crore for the nine months of this fiscal ending December 2000, with deposits worth Rs 15,000 crore and advances of various kind touching Rs 8,000 crore.
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India’s exports up 21 per cent in first eight months
New Delhi: India's exports in dollar terms registered a 20.56 per cent growth to $28.6 billion during the first eight months of the current financial year even as oil imports shot up by 82.96 per cent during the period.

Exports during April-November of last fiscal stood at $23.73 billion. Exports for November 2000 went up by 20.31 per cent at $3.53 billion against $2.94 billion during November 1999, trade data released on Monday.

Total imports during the first eight months of 2000-01 showed a growth of 14.44 per cent at $34.79 billion as against $30.40 billion during the corresponding period of the previous fiscal.

India's oil imports during April-November of the current financial year stood at $11.35 billion as against $6.20 billion in the same period of the previous year.

Non-oil imports during the corresponding period fell by 3.13 per cent to $23.44 billion compared with $24.20 billion in April-November of the previous year, the release said.

Trade deficit for the first eight months of 2000 is estimated to be lower at $6.17 billion compared with $6.67 billion in the previous fiscal. Imports during November 2000 are valued at $4.49 billion, which is 18.42 per cent more than $3.8 billion in November 1999. Trade deficit stood at $956.72 million as against $854.87 million during November 1999.
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