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.
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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.
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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.
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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.
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