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Rupee
moves up
Mumbai: The rupee appreciated by three paise on
Wednesday to end the day at 45.24/25 against the dollar.
G-Secs: The 7.38 per cent 2015 paper; opened at Rs 116.85
and closed at Rs 117.15. The 10-year benchmark, the 7.37
per cent 2014 paper, closed at Rs 116.70 at a yield of
5.22 per cent.
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Bank
of India: First to outsource IT requirements
Mumbai: Bank of India (BoI) has announced that
it has awarded Hewlett Packard India Pvt. Ltd a $150-million
10-year outsourcing contract to provide a full suite of
core-banking solutions and related services to the bank.
BoI is the first Indian bank to outsource its entire IT-related
requirements. Initially, 750 branches, that cover about
80 per cent of the bank's business, out of its 2,400 branches
will be connected.
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ADB
rupee issue oversubscribed
Mumbai: Asian Development Bank's debut rupee bond
issue was oversubscribed twice. The Rs 500-crore ten-year
issues were priced on a book-building basis at a coupon
rate of 5.40 per cent.
The interest is payable semi-annually.
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Banks
asked to achieve Rozgar Yojana targets
Mumbai: Reserve Bank of India has urged banks to
expedite the meeting of targets as stipulated in the Prime
Minister's Rozgar Yojana . In a circular issued to the
chiefs of all commercial bank's here on Wednesday, the
Reserve Bank of India has said, "The latest data
available indicates that the gap in terms of actual performance
necessitates gearing up the banks to perform as per the
stipulated targets.''
As
per the stipulated guidelines for PMRY, 50 per cent applications
of the year's target should have been sanctioned and 15
per cent of the target should have been disbursed till
September 30, 2003. Banks have been asked to ensure timely
achievements of targets under PMRY scheme for 2003-04.
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Its
e-banking for GAIL
New Delhi: GAIL (India) Ltd has switched over to
an e-banking system installed by the State Bank of India
for all its major payments. GAIL, which releases around
Rs 5,000 crore annually to Oil and Natural Gas Corporation,
will henceforth make these payments exclusively through
the e-banking module installed in the PSU gas major's
corporate office in Delhi. GAIL is putting in place a
system through which payments to vendors and contractors
too can be made through a similar route. The two organisations
have worked jointly to customise the service for GAIL
to cover all aspects of e-banking, including vendors'
payments, employee payments and e-fund transfers.
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