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RBI
issues guidelines for new capital adequacy framework
Mumbai:
By way of managing post Basel-II operational risks,
the RBI has mapped the activities of a bank into eight
business lines as identified in the New Capital Adequacy
Framework.
Various
products launched by banks are also to be mapped to the
relevant business line and would be subject to independent
review, the RBI has said in its guidelines on monitoring
of banks' operational risks.
According
to the guidelines, banks must develop specific policies
for mapping a product or activity to a business line and
have the same documented to indicate the criteria.
The
eight recommended business lines are corporate finance,
trading and sales, retail banking, commercial banking,
payment and settlement, agency services, asset management
and retail brokerage.
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India,
Pak banks cross LOC
Dubai:
Four Indian and Pakistani banks will soon cross over
into each other's territory.
Pakistani commercial banks Bank Alfalah and National Bank
of Pakistan will soon set up branches in India, while
State Bank of India and Bank of India, will open their
branches in Pakistan.
The banks are expected to start operations by December.
The decision to open commercial banks in each other's
country was taken recently when State Bank of Pakistan
Governor Ishrat Husain visited Mumbai and held a meeting
with his Indian counterpart and other senior commercial
bankers.
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CanBank
launches scheme for artisans
Thiruvananthapuram:
Canara Bank is offering loans for artisans. The bank has
launched `Cantools' a new finance scheme intended to help
artisans and self-employed people acquire power tools.
According
to the bank Cantools' is intended to help people working
in areas such as plumbing, carpentry and automobile repair
acquire modern equipment such as power tools and thus
upgrade their skill set.
All
branches of the bank in Kerala will implement the scheme,
he added.
Under
the scheme, the bank will sanction up to Rs 1 lakh at
rates of interest ranging from 8.75 per cent to 10.75
per cent. Loans can be repaid in monthly instalments in
a period of three to five years. No collateral is required
for issue of loans.
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