e-transfer of inter-bank funds from today
Mumbai: The Reserve Bank of India, in conjunction with banks, has embarked upon a scheme that would enable safe, secure and same-day electronic transfer of funds across the country.
To be introduced from April 1, the Special Electronic Fund Transfer (SEFT) Scheme will have settlement taking place at Mumbai for inter-bank funds transfers. The scheme will be made available in over 2,500 bank branches in 500 cities, according to a RBI press release.
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BoP surplus doubles to $6.11 billion
Mumbai: The country's balance of payments (BoP) surplus during the October-December 2002 period almost doubled to $6.11 billion from $3.62 billion during the corresponding period in 2001, according to RBI data.
The current account balance surplus was marginally down at $721 million during the third quarter of 2002-03, over $795 million in the year-ago period.
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`Max NY Life stays focused on quality '
Coimbatore: The Chief Executive Officer and Managing Director of Max New York Life, Mr Anuroop `Tony' Singh, has reaffirmed that the company's vision is to emerge as the most admired company in this space and "not necessarily the largest".
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ECGC premium income up 11 pc
Chennai: The Export Credit Guarantee Corporation's (ECGC) premium income for the current year has increased by 11 per cent, to Rs 375 crore, compared to Rs 338 crore last year.
However, claims settled continue to be higher than the premium income. But `claims settled'
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