HDFC Bank, RIM join hands for mobile banking
Mumbai: HDFC Bank and Reliance IndiaMobile have joined hands to launch an interactive mobile banking service in India. According to an HDFC Bank press release, all bank customers who are also Reliance IndiaMobile subscribers can now view their bank account balance, get mini-statements, fixed deposit details and make request for cheque book and account statements, apart from making bill payment by direct debit to the account from their mobile handsets. After registering with HDFC Bank for the mobile banking service, a Reliance IndiaMobile subscriber can access the facility directly from R World on the handset.

The customer will be presented with a detailed menu of about ten banking activities that can be done through the mobile phone. Neeraj Swaroop, country head (marketing and retail lending) of HDFC Bank, says that "with this alliance, we offer our customers the most comprehensive and advanced mobile banking service. We offer our customers unrestricted access to the bank in India and from across the world". The Reliance India Mobile service is at present commercially available in over 470 cities and will soon be available in 693 towns and cities across India.
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Birla Global board approves sale
Mumbai: The board of directors of Birla Global Finance Ltd on Monday approved the sale of 51 per cent of its holding in Birla Sun Life Securities to J.V. Gokal Securities Pvt Ltd. According to a BSE notification, the sale of 30,60,000 equity shares of Birla Sun Life Securities, a subsidiary of Birla Global Finance will be for a total consideration of Rs 4.85 crore, subject to all approvals.
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Malaprabha Bank net profit rises
Mangalore: The Dharwad-based Malaprabha Grameena Bank has announced 76 per cent increase in the net profit during the first half of the current fiscal ended September 2003. A bank release here on Monday said that it recorded a net profit of Rs 16.12 crore during the first half of the current fiscal. It said that the bank has the plan of reaching a total business of Rs 1,802 crore by the end of this financial year.

The total business of the bank during the first half of the current fiscal stood at Rs 1,433 crore. The deposits of the bank stood at Rs 782 crore, and advances at Rs. 651 crore. The release claimed that the bank has disbursed Rs 147 crore during the first half of the current fiscal under its various schemes.
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