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Industry Happenings

Islamic banking not possible, says Subbarao

2 NBFCs planning white label ATMs

SBI to have more cash deposit machines
Encouraged by the customer response to the cash deposit machines, State Bank of India has placed orders to procure an additional 600 such machines that would help take the network to more locations across the country

2 Odisha RRBs merge
Two existing RRBs in Odisha - Rushikulya Gramya Bank and Utkal Gramya Bank - have been amalgamated to form a new RRB - Utkal Grameen Bank, which will function with its head office at Bolangir under the sponsorship of State Bank of India

Corp Bank introduces transactions through tablets, iPads

KR Kamath is IBA chairperson
K R Kamath, CMD, Punjab National Bank, is the new chairman of the India Banks’ Association (IBA). He will take over from Alok Misra, CMD, Bank of India, on 1 October. T M Bhasin, CMD of Indian Bank

Indian Bank, NSIC in tie-up
Indian Bank has entered into a pact with National Small Industries Corporation (NSIC) to enhance its exposure to micro, small and medium enterprises. NSIC will sponsor MSME proposal

Cash retraction facility goes
The Reserve Bank of India has directed all banks to deactivate the cash retraction facility at ATMs with immediate effect. Customers will have to be extra careful in collecting the cash dispensed by the ATM

EXIM Bank to promote project exports
The Export-Import Bank of India is considering supporting Indian companies in exploring potential project exports in sectors like engineering, construction and equipment. In the past few months, the bank had focused on research and marketing schemes to identify the potential for exports in each sector

Syndicate Bank, Franklin Templeton in tie-up
Franklin Templeton Investments (India) and Syndicate Bank have entered into an alliance to offer the entire bouquet of Franklin Templeton Mutual Fund's schemes through the bank's 2713 branches across the country

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