United
Bank eyes home, education loans
Kolkata: United Bank of India, a Kolkata-based
bank, will focus on housing and education loans as part
of its latest drive on retail lending. The bank, which
has proposed to create greater awareness of its loan products,
plans to reach out to more people, especially to potential
takers in eastern India, where it has a strong presence.
The bank has already introduced a number of friendly products
in the market. The bank also plans to cater to parents
who wish to provide the best possible education to their
wards.
"Individual
borrowers should be encouraged to take loans, especially
because interest rates have come down drastically,"
said chairman and managing director Madhukar, while speaking
at a programme on credit awareness organised by the bank
here. Madhukar, who referred to rich Indian traditions
pertaining to borrowing, felt that loans are "a serious
matter" for ordinary individuals who aspired to use
them for meeting specific requirements.
Back
to News Review index page
World
Bank says better services key to eradicate poverty
Dubai: A World Bank report has said that broad
improvements in human welfare will not occur unless poor
people receive wider access to affordable, better quality
services in health, education, water, sanitation, and
electricity. Without such improvements in services, freedom
from illness and freedom from illiteracy (two of the most
important ways poor people can escape poverty) will remain
elusive to many.
The
report was released in Dubai on Sunday as part of the
annual meetings of the boards of governors of the World
Bank and the IMF. The World Development Report 2004, titled
'Making Services Work for Poor People', says that too
often, key services fail poor people in access,
quantity, and quality. This imperils a set of development
targets known as the Millennium Development Goals (MDGs),
which call for halving of the global incidence of poverty
and broad improvements in human development by 2015.
Back
to News Review index page
IMF
wants Doha talks to resume
Dubai: The IMF has called for political will on
the part of countries to ensure a speedy resumption of
the Doha Round, which is vital for strong global growth
and development objectives. It said that a unique initiative
is being undertaken whereby letters will be sent to the
heads of the states, leaders and finance ministers citing
the critical importance of resumption of trade talks after
the disappointing breakdown of trade negotiations at Cancun.
IMF
managing director Horst Kohler said the initiative, which
has been endorsed at the meeting, will have two main elements.
"The first is to describe the well known benefits
of free and liberalised trade for poor and rich nations
and that it is possible to create a win-win situation
for both. The second is to put these numbers in broader
issues and policy context and that it is impossible to
achieve progress in millennium development goals without
trade liberalisation." He also stressed the need
for effective leadership in order to review negotiating
positions after Cancun and to come to mutual agreements.
Back
to News Review index page
ECGC
plans widespread network
Mumbai: The Export Credit Guarantee Corporation
of India (ECGC) is planing to open satellite branches
across the country to create a widespread distribution
network. The 46-year-old credit guarantee insurance provider
opened two new satellite branches in Jodhpur and Visakhapatnam
on 17 September. The two branches are part of a series
of satellite branches (or smaller ECGC offices, opened
where full-fledged presence is not economically feasible)
being set up in cities and towns across the country.
In
September alone, ECGC has opened satellite branches in
key small cities such as Noida, Rajkot and Chandigarh.
The company now has smaller branches in 34 cities across
India. The drive is part of ECGC's efforts to meet growing
competition in the credit insurance market after it was
opened up for competition from other non-life insurers,
recently. ECGC has introduced new products and rationalised
premium rates apart from pruning the list of restricted
countries where it provides Indian companies with export
credit guarantee insurance covers.
Back
to News Review index page
|