Barclays to expand presence in India
Mumbai: Barclays Plc, Britain's third largest bank, is planning to make big investments and four-fold jump in employee strength for its retail and corporate banking business in India.

The banking major which has a presence in India is planning to offer full service commercial banking operations in the country.

At present Barclays is awaiting regulatory approval for opening further coporate banking branches in the country.
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SIB awarded for excellence in banking tech
Chennai: The South Indian Bank (SIB) has won a special award for excellence in banking technology from the Institute of Development and Research in Banking Technology (IDRBT).

The institute, which is the technical arm of the Reserve Bank of India (RBI), has presented the award to the bank in recognition of the excellent contribution made in the area of information systems policies and practices.
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ADB to provide loans for rural finance
Manila-Based Asian Development Bank (ADB) is likely to lend $1bn (nearly Rs4,670 crore) to the government to undertake a rural finance project through cooperatives this year.

It will be a 20-year-loan and the interest rate is likely to be 40 basis points over the six months Libor (London Inter-bank Offered Rate).
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More Indian Bank CBS branches
Bhubaneswar: Indian Bank plans to increase the number of its branches under core banking solutions from the present 585 to 1,000 by the end of March 2007. A majority of the branches to be covered under the initiative would be rural branches. The bank is taking various measures to become `a common man's bank', and is giving priority to increase lending to agriculture, small-scale industries, self-help groups and education loans.
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Omnibus law for banking soon
New Delhi: All legislation governing the banking industry may be merged into one Act in the next couple of years.

Sources said the government might decide to have separate sections comprising rules for state-owned, private and foreign banks. The finance ministry is also looking to pass the Payment and Settlements Services Act, in order to facilitate clearing and settlements.
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