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Top Stories- May 2007

Banknet India 'Report on the Indian ATM Industry', released on 31st May 2007 has compiled a list of precautions for users to avoid an ATM fraud...Read more

Reserve Bank of India has cancelled the licence of The Chetak Urban Co-operative Bank, Parbhanl, Maharashtra...Read more

Tata Consultancy Services (TCS), has announced the formation of a new strategic business unit (SBU) called TCS Financial Solutions...Read more

The scramble to keep pace with credit growth will push up banks cost of deposits by 50 basis points in 2007-08, according to CRISIL...Read more

The asset quality of Indian banks has improved remarkably on back of the strong economic growth, according to Assocham...Read more

Partnership rather than procurement is new path to effective outsourcing, according to PWC global outsourcing survey...Read more

RBI has permitted banks to deliver cash/draft at the doorstep of the individual and corporate customers...Read more

RBI has now allowed bank customers to appeal against the decision of the Banking Ombudsman...Read more

According to Banknet India 'Report on Indian ATM Industry', Biometric ATMs are set to expand in India...Read more

Growth in global over-the-counter (OTC) derivatives market slowed in the second half of 2006, according to BIS semiannual statistics...Read more

RBI withdraw the exemption accorded to the development of integrated township as a permissible end-use of External Commercial Borrowings (ECB)...Read more

The menace of stress and mental fatigue has intensified in recent times at top and middle positions in number of sectors,according to Assocham...Read more

The Financial Stability Forum (FSF) has recommended action to protect against potential risks relating to hedge funds...Read more

More people are now moving towards using the ATM for their banking needs...Read more

Monetary Fund (IMF) has launched revised fiscal transparency code and manual...Read more

Retail banks are not meeting their own expectations, according to Global Retail Banking Benchmark survey by EFMA and SAP...Read more

Foreign banks' revenue in China is expected to grow at least 20%, according to PricewaterhouseCoopers...Read more

State Bank of India (SBI) net profits up by 75% at Rs 1,493 crore for the quarter ended March 2007...Read more

RBI has prohibited banks authorised to import gold for tying up with non-nominated banks...Read more

Citibank and SKS Microfinance has announced a USD 44 Million (Rs.1.8 Billion) rural microfinance program...Read more

RBI permits banks to fund the wholly owned overseas step-down subsidiaries of Indian companies...Read more

Indians allowed remittance up to USD 100,000, per financial year, for any permitted current or capital account transactions...Read more

RBI has asked banks not to charge excessive interest on loans...Read more

RBI has allowed Regional Rural Banks (RRBs) to undertake insurance agency business without risk participation...Read more

RBI has reduced the risk weight on the residential housing loans to individuals from 75 per cent to 50 per cent...Read more

Indian companies have been hit by huge rise in its interest burden in the last quarter of 2007, according to ASSOCHAM...Read more

SEBI has amended Disclosure and Investor Protection (DIP) guidelines...Read more


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