Exim Bank extends $25-m credit to Russia
New Delhi: The Export-Import Bank of India has extended a $25-million line of credit to Russias bank for foreign trade Vneshtorgbank to facilitate export of Indian goods to that country.
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Hi-tech bank service comes at a price
Chennai: "There is no clear-cut information on the service charges levied by the banks. It differs from bank to bank. Customers are not informed in advance about such levies," Kathir Mathiyon of Coimbatore Consumer Cause said.
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Differences over service tax on life policies
New Delhi: The Insurance Regulatory Development Authority has locked horns with the revenue department on the method of computation of the risk premium component of life insurance policies on which the government proposes to levy a 5-per cent service tax.
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Truckers serve notices on TAC
New Delhi: Barely over a week after the new motor insurance tariffs came into effect, pressure is mounting on the Tariff Advisory Committee for keeping the enhanced rates in abeyance till pending legal proceedings related to the matter are settled.
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RBI proposes to utilise SBI electronic transfer facility
Mumbai: The Reserve Bank of India is considering a proposal to utilise State Bank of India's clearing houses to increase the reach of electronic fund transfer facility in the country. Currently, RBI has 13 national clearing cells across the country.
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UTI Bank net increases 42% in Q1
Mumbai: UTI Bank has reported a 42-per cent rise in net profit at Rs 35.98 crore for the first quarter ended June 2002 as against Rs 25.36 crore in the same period the previous year. The rise in net profit is attributed to new asset acquisitions.
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Banks plan to offer G-sec-linked loans
Mumbai: In a bid to woo more top-notch clients, some banks are planning to offer credit linked to yields on government securities. The move is seen as an effort by banks to deploy their excess funds, and offer corporates the benefit of lower interest.
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SBI to upgrade Mangalore, Kankanady branches
Mangalore: State Bank of India is in the process of modernising its 134-year-old Mangalore branch. The bank's 'technology upgradation' drive is also going to lead to the introduction of new facilities in its relatively younger 27-year-old Kankanady branch.
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GTB launches new debit card
Hyderabad: Global Trust Bank has launched Visa Electron, an online debit card titled Proton free for the bank customers and also e-banking kiosks, says GTB managing director Sudhakar Gande.
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Indian Bank tie-up with California bank soon
Mumbai: Indian Bank is likely to announce a tie-up with Union Bank of California shortly, the bank's chairperson and managing director Ranjana Kumar said.
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Household savings seen at 19.7% of GDP under 10th Plan
New Delhi: The working group on domestic and foreign savings for the 10th Five Year Plan has projected the rate of household savings at 19.7 per cent of the gross domestic product during the period 2002-07.
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Basel committee aims to finish new rules in Q4 2003
New Delhi: The Basel Committee on Banking Supervision said on Wednesday it has made progress on new global rules aimed at ensuring banks have enough capital to cover risks, hoping to have a completed version by the fourth quarter of 2003.
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