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FM
to raise foreign holding ceiling in PSU banks
New Delhi: As part of the financial sector reforms
package, the government is planning to raise the ceiling
on foreign holding in Indian banks in the forthcoming
Budget. Finance Minister Jaswant Singh is expected to
announce a virtual bonanza for foreign investors.
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Banks'
drive to empanel recovery agencies
Kolkata: Banks have launched a drive to empanel recovery
agencies for assistance in surveys, seizure and management
of securitised assets.
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Union
Bank launches anywhere banking
Mumbai: Union Bank of India on Monday became the third
public sector bank to offer core-banking solution, which
enables the bank to offer anywhere-anytime banking, with
its launch at 12 branches in three cities — Bangalore,
Delhi and Mumbai.
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KJBNL
finalises coupon for term loans, bonds
Bangalore: The Karnataka government promoted Krishna
Jala Bhagya Nigam Limited has finalised a coupon rate
of 9.50 to 10 per cent for raising term loans and 9.25
per cent for its bond issue during its plan to retire
a high-cost debt of Rs 405 crore.
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Corpn
Bank hikes rates on deposits
Mangalore: Corporation Bank has revised its interest
rates on domestic term deposits with effect from February
17. The revision effected now will apply to domestic term
deposits as well as deposits under the Capital Gains Account
Scheme 1988 (Scheme B).
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AP
co-operative bank convention in March
Hyderabad: The Andhra Pradesh Urban and Town Co-operative
Banks' Association will hold a State-level convention
on March 9 at Vijayawada to discuss their problems and
chalk out strategies, M. Anjaneyulu, President of the
association, has said.
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GTB
launches `Vyapaar'
Hyderabad: Global Trust Bank (GTB) has announced the
launch of `Vyapaar', a special current account targeted
at small businesses. In a press release here on Monday,
the bank said the product was designed to meet the needs
of retail outlets, distributions and C&F agents.
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SBI
gets nod to sell healthcare products to individuals
Mumbai: The State Bank of India (SBI) has received
permission from the Insurance Regulatory and Development
Authority (IRDA) to sell healthcare products pertaining
to individuals.
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