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PNB
looks at BoB's HR integration model for Nedungadi
New Delhi: Punjab National Bank (PNB), which has
been asked by the Reserve Bank of India (RBI) to amalgamate
Nedungadi Bank with itself, is exploring the option of
adopting Bank of Baroda's HR integration model to absorb
Nedungadi's employees.
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Exim
Bank to create $100-million corpus to boost trade with
Eastern Europe
Mumbai: Export Import bank plans to create a corpus
of $100 million for providing lines of credit on soft
terms to Central and East Europe and the Commonwealth
of Independent States to augment exports to these countries.
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SBI
cracks down on Lubrichem Industries
Mumbai: In its third seizure for recovering outstandings
of Rs 8.22 crore, State Bank of India has taken over a
chemical plant in Mumbai’s outskirts under the securitisation
law.
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Australian
bank seeks nod for NBFC
New Delhi: Australia-based South East Asia Bank
has sought permission from the Foreign Investment Promotion
Board (FIPB) to establish a wholly-owned non-banking finance
company (NBFC) in India.
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Vijaya
Bank cuts home loan rates
Hyderabad: Vijaya Bank has slashed its interest
rates on housing loans for both its short and long tenure
varying from 100 basis points to 200 basis points and
claims to offer the lowest interest rate.
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Kerala
Govt ties up with SBI for home loans to staff
Thiruvananthapuram: The State Government has entered
into an arrangement with the State Bank of India (SBI)
for making available home loans to Government employees.
An official spokesman said that the Government has been
talking to a number of banks and financial for striking
up an agreement to this effect after it stopped advancing
housing loans to the staff as part of the general belt-tightening
exercise implemented since January.
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ICICI
Info to roll out insurance products
Mumbai: ICICI Infotech Ltd, an information technology
company promoted by ICICI Bank, plans to roll out its
insurance product for Oriental Insurance Company in April.
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ING-Vysya
structures $30-m interest corridor for pvt airline
Mumbai: The private sector ING-Vysya Bank has structured
a $30 million interest rate corridor for the largest private
sector airline company in the country. This is the second
major deal being structured by the bank.
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IFC
lines up 10 cos for funding
New Delhi: International Finance Corporation (IFC),
the private sector lending arm of the World Bank group,
is in discussions with about 10 domestic companies for
financing their projects in the country.
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Securities
lacklustre
Mumbai: BOND prices moved in a ten paise range
in an otherwise lacklustre government securities market
on Wednesday.
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Call
money: Second stage of prudential limit from Saturday
Mumbai: The second stage of the prudential limits
on the exposure of commercial banks in call/notice money
market will commence on December 14. This is intended
to reduce the dependence of players in the inter-bank
call money market.
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Banks
told to make NRE rupee deposits unattractive
Mumbai: The Reserve Bank of India is understood
to have `informally' asked the public sector banks to
cut interest rates on non-resident external (NRE) rupee
deposits, to make it unattractive for NRI customers.
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Vijaya
Bank eyes northern peers
Bangalore: The Chairman of the Bank, M.S. Kapur,
while confirming the intention of looking at acquisition
of a bank from the Northern region, declined to disclose
the banks eyed. Punjab & Sind Bank, Bank of Punjab
and Bank of Rajasthan are candidates for a possible acquisition,
according to banking circles.
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Nedungadi
merger: PNB won't take loss above Rs 35 cr
New Delhi: The board of directors of Punjab National
Bank has decided that the bank would take no more than
a loss of Rs 35 crore, arising out of the takeover Nedungadi
Bank.
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Plea
on pension option
Kochi: The General Insurance Officers All India
Association (GIOAIA) has urged the Government to allow
employees in the public sector general insurance companies
one more opportunity to opt for pension before the VRS
scheme is implemented.
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CII
seminar on insurance
Kochi: Confederation of Indian Industry (CII),
Kerala is organising a seminar on `Insurance: the Secure
Morrow' on December 17.
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Federal
Bank launches mobile alert
Kochi: The Aluva-based Federal Bank has announced
the launch of a comprehensive mobile alert services for
all its bank customers.
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Stanchart
CEO to head OTC derivatives panel
Mumbai: The Reserve Bank of India (RBI) has set
up a high profile working group on over-the-counter (OTC)
derivatives. The Central Bank, in October's mid-term Monetary
and Credit Review, has said it intended to set up a working
group, which would review the guidelines for OTC rupee
derivatives in the country and suggest further developments
in this market.
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