All posts by banking

CCIL to issue LEIs

Reported by | Updated: January 10, 2014

The Reserve Bank of India has selected the Clearing Corporation of India Ltd (CCIL) for issuing globally compatible legal entity identifiers (LEIs). CCIL will act as a local operating unit for issuing globally compatible LEIs in India. LEIs are a 20-character unique identity code assigned to entities which are parties to a financial transaction. CCIL […]

Two-category structure for NBFCs mooted

Reported by | Updated: January 10, 2014

The Reserve Bank of India’s panel on financial services for small business and low-income households has advised replacing the multi-category classification of non-banking financial companies (NBFCs) with a two-category structure. The panel headed by Nachiket Mor says NBFCs should be classified as either core investment companies and another category for all others. It has asked […]

BoM sponsoring Marathi Sahitya Sammelan

Reported by | Updated: January 10, 2014

Bank of Maharashtra is sponsoring the 87th Akhil Bharatiya Marathi Sahitya Sammelan 2014 to be organized by Maharashtra Sahitya Parishad. R.Athmaram ED of the bank, handing over the sponsorship cheque of Rs 300,000 to Vijay Kolte, president, Maharashtra Sahitya Parishad.

Citibank building in Mumbai attracts 2 buyers

Reported by | Updated: January 10, 2014

Citibank’s old headquarters in the Bandra-Kurla Complex in India has attracted two prospective buyers. Pune-based Panchshil Realty and US-based private equity giant Blackstone are understood to have have jointly bid Rs 186 crore for the property. Citibank had put the building on the block and appointed CBRE group as its consultant. The bank is expecting […]

IBM helps Bank of China to have new online banking platform

Reported by | Updated: January 10, 2014

Bank of China along with IBM have successfully completed the launch of the bank’s next generation global online banking platform, which provides 100 million customers with a fully integrated experience spanning branch, phone, mobile and internet banking. The bank has leveraged IBM’s business consulting expertise to revolutionize all aspects of its online banking strategy including […]

JP Morgan to exit prepaid card biz

Reported by | Updated: January 10, 2014

JPMorgan Chase plans to sell or exit over time its business of issuing prepaid cards for corporate payrolls and government tax refunds and benefits. The cards, which had been offered with cash and treasury services to companies and governments, had become a headache of risks in operations and regulations, says a company source. Last month […]

DBS to implement IBM Watson

Reported by | Updated: January 10, 2014

DBS Bank has unveiled plans to implement IBM’s Watson cognitive computing technology as part of efforts to gain better insights and improve its customer experience, becoming Asia’s first Watson customer. The bank’s CEO Piyush Gupta said the initiative would allow the bank to look at ways to tap data and provide more ‘precise, customized, and […]

Bitcoin future limited, says report

Reported by | Updated: January 10, 2014

International Institute of Finance, a global banking group, has said online currency Bitcoin may have shown unexpected success but its future as a broadly accepted exchange medium is limited. The institute’s report said more regulation of Bitcoin exchanges and transactions could strengthen its legitimacy among consumers and ease regulators` doubts about it. The institute represents […]

Consortium II touches $100 m target

Reported by | Updated: January 10, 2014

Deutsche Bank announced it has reached the $100 million commitment target for Global Commercial Microfinance Consortium II, a first-ever fund to support the growth of microfinance institutions that pursue a high level of client care, transparency of operations and pricing, and product innovation. Consortium II’s goal is to encourage and facilitate a renewed focus on […]

Gold loan cap hiked

Reported by | Updated: January 9, 2014

The Reserve Bank of India has raised the cap of loans that NBFCs, especially gold loan companies can give against gold and jewelry mortgaged by people. These entities can now give up to 75% of the value of the gold jewelry pledged, against the earlier cap of 60%, as loan. The RBI has raised the […]

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