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RBI
allows PNB to cut stake in PD arm to 30 per cent
Mumbai: The Reserve Bank of India (RBI) has given
the go-ahead to Punjab National Bank for lowering its
equity in its primary dealer arm PNB Gilts progressively
to 49 per cent and then 30 per cent over the next three
years from the present 74 percent.
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KPMG
plans training in anti-money laundering provisions
New Delhi: KPMG is in talks with a number of banks
to conduct training programmes on anti-money laundering
provisions and procedures.
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IDBI
Bank stops sale of Tata AIG products via ATMs
Mumbai: IDBI Bank has withdrawn its `any time insurance'
offering, whereby it was selling general insurance products
of Tata AIG through its ATMs.
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United
India inks pact with South Indian Bank
Kochi: The Thrissur-based South Indian Bank has
joined hands with United India Insurance through a corporate
agency tie-up whereby the company's insurance products
will be sold through the bank's branch network.
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BoI
to outsource HR systems
Mumbai: Bank of India (BoI) plans to totally outsource
its human resources (HR) management systems. The move
is expected to save 50 per cent of the bank's funds.
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IIBI
to service own bonds
Mumbai: Industrial Investment Bank of India Ltd
(IIBI) will be taking over the servicing of the government-guaranteed
IIBI Bond (SLR) issued up to September 1993 (up to series
22) covering payment of interest and redemption proceeds
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Union
Bank cuts PLR
Mumbai: Union Bank of India has reduced its prime-lending
rate (PLR) by 0.25 percentage points to 11.25 per cent
effective December 1. The prime term lending rate (PTLR)
of the bank remains at 12 per cent, said a press release.
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Bonds
fall on profit-taking
Mumbai: RBI announced Rs 4,500 crore OMO sale of
the 10.95 per cent 2011 paper through uniform price auction
has been scheduled for December 2.
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Canara
Bank cuts long-term deposit rates
Mumbai: Canara Bank has dropped its lending rates
by 25 basis points (0.25 per cent) for term deposits in
view of the continuing liquidity overhang in the banking
system.
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