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Top Stories- December 2006

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RBI has asked banks to report their businesses through five business segments...Read more

RBI has advised banks to provide acknowledgement of the cheques at the branches...Read more

The limit of remittance by resident individuals, enhanced by RBI to USD 50,000 per year...Read more

Bank of India, Union Bank of India and Dai-ichi Mutual Life Insurance Co sign Life Insurance Joint Venture...Read more

Permanent Account Number (PAN) mandatory for demat account and trading in securities...Read more

Government allows foreign investment in stock exchanges, depositories and clearing corporations...Read more

Business Transformation Outsourcing (BTO) is expected to be around $680 billion by 2009...Read more

Assocham has projected Indian insurance business to reach US$60 billion by 2010...Read more

IDBI signs MOU with IFC to assist cos undertaking Clean Development Mechanism projects...Read more

Nikko and Ambit plan asset management joint venture in India...Read more

Hong Kong Monetary Authority announces code of practice for payment card scheme operators...Read more

IBA is setting up registry for customers to avoid tele-marketing calls from banks...Read more

Due to tight liquidity situation, both lending and deposit rates are going up...Read more

Bombay Stock Exchange would set up a corporate bond reporting platform wef Jan 1, 2007...Read more

Maharashtra and RBI have signed a MoU with regard to urban co-operative banks...Read more

Deutsche Bank would infuse additional Rs 1,125 crore ($253 million) in its India operations...Read more

Bank of India (BOI) to acquire 76% of P T Bank Swadesi Tbk, Indonesia...Read more

Indian banking sector has made a quantum leap forward in terms of switching over from paper-based transactions to electronic means, which include Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT) and other electronic modes. ...Read more

The mutual fund assets under management (AUMs) have touched Rs 3.41 trillion...Read more

RBI has increased the cash reserve ratio (CRR) from 5% to 5.5% in two phases by 25 basis points (0.25 percentage points) each on December 23, 2006 and January 6, 2007...Read more

The Union Cabinet has approved enactment of a legislation on the Micro Financial Sector...Read more

RBI has advised that before the end of March 2007, cheques would be cleared within 24 hrs...Read more

Canara Bank has received permission to open 106 new branches and 683 offsite ATMs...Read more

Non-Banking Financial Companies can now market and distribute mutual fund products...Read more

Larsen and Toubro will pick up nearly 10% stake in the City Union Bank...Read more

Non-Banking Financial Companies can now issue co-branded credit cards with banks...Read more

RBI has eased the norms for raising funds through external commercial borrowing (ECB) route...Read more

TCS deal is the first major IT contract bagged by an Indian company from a Chinese firm...Read more

Indian companies spend $20 billion to fund the mergers and acquisitions deals abroad in 2006...Read more







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