All posts by banking

New deposit scheme from Syndicate Bank

Reported by | Updated: February 6, 2014

Syndicate Bank has launched a new deposit scheme with a tenor of 444 days and interest rate of 9.25% per annum. The scheme, Synd Disha, is mainly targeted at pensioners and middle-range investors, said M Anjaneya Prasad, ED of the bank. Senior citizens will be offered 9.75% interest under the scheme, in which an amount […]

Missed call service from HDFC Bank

Reported by | Updated: February 5, 2014

HDFC Bank has launched a new service – missed call banking – which allows customers avail of banking services without having to visit branches or ATMs or even using internet and mobile banking. A customer has to register his mobile number with the bank and once this number is linked with his bank account, the […]

No exchange possible if notes are fake

Reported by | Updated: February 5, 2014

People approaching banks to exchange the pre-2005 currency notes they have will not be able to do so if the currency notes in their possession are found to be counterfeit, RBI has clarified. Banking experts feel the chances of these currency notes being fake are quite high as well. The RBI said if someone has […]

LIC picks up major portion of SBI offer

Reported by | Updated: February 5, 2014

Life Insurance Corporation of India bought shares worth around Rs 3,000 crore in State Bank of India’s qualified institutional placement (QIP) offering. This is quite a big chunk of the shares and virtually a face saver for the bank. Many public sector banks also picked up shares while response from foreign investors was not very […]

Sundaram BNP Paribas Fund opts for eFront

Reported by | Updated: February 5, 2014

Sundaram BNP Paribas Fund Services has engaged France-based eFront to meet the software needs required in servicing its private equity clients. The joint venture is involved in providing accounting and other services relating to the securities held by PE players. Shridhar Iyer, CEO, Sundaram BNP Paribas Fund Services, said the technology would help streamline its […]

Bernanke begins his term at Brookings

Reported by | Updated: February 5, 2014

Ben Bernanke has ended his term as the chairman of Federal Reserve and he immediately began his new job at the Brookings Institution, getting back to work just three days after ending his tenure as head of the world’s most powerful central bank. Bernanke, who led the U.S. central bank in its aggressive efforts to […]

Deutsche Bank traders fired

Reported by | Updated: February 5, 2014

Deutsche Bank has dismissed three New York-based currency traders in the wake of a probe into alleged manipulation of foreign exchange markets. Diego Moraiz, Robert Wallden and Christopher Fahy were terminated by the bank. The bank said it has received requests for information from regulatory authorities that are investigating trading in the foreign exchange market […]

Rabobank plans to sell US unit

Reported by | Updated: February 5, 2014

Dutch bank Rabobank Groep is exploring a sale of its U.S. retail bank or other American operations. The bank, based in Utrecht, Netherlands, is interviewing potential advisers to run a sale process and determine how much it could fetch for Rabobank, a 120-branch agriculture lender in California. It has not hired an adviser or decided […]

Banks warned on XP usage deadline

Reported by | Updated: February 4, 2014

The Indian Banks’ Association (IBA) has advissed member-banks to ensure business continuity after Microsoft ends support for its popular Windows XP operating system. Microsoft has announced that it will not offer support services for XP operating system 8 April. The IBA drew the attention of banks to a study by Microsoft, which estimates that over […]

NABARD to fund creation of warehouses

Reported by | Updated: February 4, 2014

NABARD has sanctioned Rs1112 crore for creation of 1,336 warehouses in various states in the country. Chairman of the development bank Harsh Kumar Bhanwala said the project sanctioning committee of NABARD has sanctioned creation of 1,336 warehouses in Haryana, Kerala, Punjab, Gujarat, Tamil Nadu, Tripura and West Bengal, which will create 7.5 lakh tonnes of […]

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