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Top Stories- January 2005

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Annual cost of operating a demat account might come down by 10-40 per cent, depending on the nature of its usage.... Read more

Reserve Bank of India has allowed Scheduled Primary (Urban) Co-operative Banks having a minimum net worth of Rs.50 crore to undertake insurance agency business without risk participation.... Read more

$16.3 bn Foreign investment expected into private banks in India.... Read more

Indian government to introduce 3-tier value-added tax structure (VAT) from April 1, 2005.... Read more

Tsunami unlikely to hurt financials of Indian banks.... Read more

All associations in India (other than a political party) having a definite cultural , economic, educational , religious or social programme permitted to accept foreign contribution, in cash and kind, for providing relief to the Tsunami victims without obtaining formal approval of the Government.... Read more

Top hundred cities in India account for 64% of the total deposits & 75% of bank credit. Further 90% of total bank deposits & bank credit in India managed by large bank branches with business in excess of Rs 10 crores.... Read more

Reserve Bank of India has prohibited cooperative banks from using any abridged form of their name.... Read more

Number of public sector banks in India are planning to tap the new issue market, to comply with with new Basel II by March 2006.... Read more



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