Banknet India http://www.banknetindia.com/ News and Stories from banknetindia.com info@banknetindia.com en-us Banknet India http://www.banknetindia.com/images/banknetslogo.gif http://www.banknetindia.com/ 92 50 Banknet India RBI extends timings of NEFT http://www.banknetindia.com/banking/neft10.htm RBI extends timings and frequency of National Electronics Funds Transfer(NEFT). BSE Banking Index, Bankex looses 4.5% http://www.banknetindia.com/stock/bankex.htm BSE Banking Index, Bankex looses 4.5% in the falling stock market. Indian IT-BPO exports touches $50 bn http://www.banknetindia.com/press/pr0402nass.htm Indian IT-BPO Industry exports touches USD 50 bn landmark, announces Nasscom. Lakshmi Vilas Bank profit up 70% http://www.banknetindia.com/press/pr0102lvb.htm Lakshmi Vilas Bank profit up 70% for 9 months ending Dec. 31, 2009 . Central Bank is Banking Partner http://www.banknetindia.com/press/pr0402.htm Central Bank is exclusive Banking Partner to 2010 Commonwealth Games. Perfios launches Personal Fin Software http://www.banknetindia.com/press/perfio0402.htm Perfios launches a Comprehensive Personal Finance Software. City Union Bank net up 26.51% http://www.banknetindia.com/press/pr3001cub.htm City Union Bank net profit up by 26.51% to Rs.40.65 Crore. RBI relaxes end-use of ECB policy http://www.banknetindia.com/banking/ecb0110.htm RBI relaxes end-use conditions of External Commercial Borrowings (ECB) policy. Global Stability is important http://www.banknetindia.com/banking/10121.htm Economic Recovery Linked to Global Stability and Peace, says IMF MD. JK Bank Q3 net up by 16% http://www.banknetindia.com/press/pr3001jk.htm J and K Bank Q3 net profit up by 16% at Rs 140 crores. Canara Bank Q3 profit soars 50% http://www.banknetindia.com/press/pr2801canara.htm Canara Bank Q3 net profit soars 50% to Rs 1052.58 crores. Central Bank profit dips 13.25% http://www.banknetindia.com/press/pr2801cent.htm Central Bank net profit declines by 13.25% for Q3 ended Dec 2009. BOI Q3 Net Profit at Rs.406 Cr http://www.banknetindia.com/press/pr2801boi.htm Bank of India Q3 Net Profit, 25% higher than sequential profit Q2 FY10. GDP growth forecast raised to 7.5% http://www.banknetindia.com/banking/h3qreview10.htm RBI raises GDP growth forecast for 2009-10 to 7.5%. RBI to focus on price stability,growth http://www.banknetindia.com/banking/3qreview10d.htm RBI to maintain rate environment consistent with price stability, financial stability and growth. No change in Bank and repo rates http://www.banknetindia.com/banking/h3qreview10.htm RBI keeps Bank Rate, repo rate and reverse repo rate at same level. RBI hikes CRR by 0.75% http://www.banknetindia.com/banking/3qreview10.htm RBI has hiked Cash Reserve Ratio (CRR) by 75 basis points Q3 review of Monetary Developments http://www.banknetindia.com/banking/3qmacro10.htm RBI releases 3rd Qtr review of Macroeconomic and Monetary Developments. Nasscom Leadership Forum at Mumbai http://www.banknetindia.com/press/pr2801nass.htm NASSCOM announces 18th India Leadership Forum from Feb 9-11th, 2010. Union Bank of India profit dips 20% http://www.banknetindia.com/press/pr2701union.htm Union Bank of India net profit drops 20% at Rs.534 crores for Q3-FY10. Dhanlaxmi Bank Q3 profit drops 92% http://www.banknetindia.com/press/pr2301dhan.htm Dhanlaxmi Bank Q3 profit drops 92%,despite a rise in total income. 3rd Qtr Review of RBI Monetary Policy http://www.banknetindia.com/banking/artpol1.htm RBI will present 3rd Quarter Review of Monetary Policy 2009-2010 on Jan 29. Indian Bank Q3 net profit up by 26% http://www.banknetindia.com/press/pr2301indian.htm Indian Bank net profit up by 25.86% at Rs 441 crores in Q3. Andhra Bank Q3 profit goes up 29.47% http://www.banknetindia.com/press/pr2501andhra.htm Andhra Bank Q3 net profit up by 29.47% at Rs 275 crores Indian Bank Q3 net profit up by 26% http://www.banknetindia.com/press/pr2301indian.htm Indian Bank net profit up by 25.86% at Rs 441 crores in Q3. ING Vysya Bank Q3 net profit up 16% http://www.banknetindia.com/press/pr2101ing.htm ING Vysya Bank Q3 net profit up by 16% and operating profit up 37%. Allahabad Bank profit up 95% for 9 months http://www.banknetindia.com/press/pr2201alld.htm Allahabad Bank profit grows 95% for 9 months, but dips 6.5% in 3rd Qtr. BSE Banking Index, Bankex looses 1.1% http://www.banknetindia.com/stock/bankex.htm BSE Banking Index, Bankex closes 1.1% down, due to correction. ICICI Bank net profit fell by 13% http://www.banknetindia.com/press/pr2101icici.htm ICICI Bank net profit fell by 13% for quarter ended Dec 31,09. Supervision Framework for Insurance Gps http://www.banknetindia.com/banking/10120.htm IAIS approves development of framework for supervision of Insurance Groups. RBI relaxes salary remittance norms http://www.banknetindia.com/banking/10119.htm RBI relaxes remittance norms for salary earned by foreign nationals and Indians. Migrating towards Payment Hub-MasterClass http://www.banknetindia.com/ps10-masterclass.htm Migrating towards a Payment Hub with case studies from Europe, US, Asia-Banknet MasterClass on 22nd Jan. Uco Bank profit jump 43.22% in Q3 http://www.banknetindia.com/press/pr1501uco.htm Uco Bank net profit at Rs 245.82 crores, a jump of 43.22% in Q3 FY10. IDBI Bank Q3 2010 net up by 29% http://www.banknetindia.com/press/pr1501idbi.htm IDBI Bank's Q3 2010 net profit up by 29% to Rs.287 Crore. AXIS Bank Q3 FY10 Profit up by 31% http://www.banknetindia.com/press/pr1501axis.htm AXIS Bank Q3 FY10 Net Profit of Rs. 655.98 Crores, up by 30.97%. IndusInd Bank Q3 profit jumps 95%% http://www.banknetindia.com/press/pr1501indus.htm IndusInd Bank Q3 net profit at Rs.88.04 crore, shows jump of 95% . HDFC Bank Q3 net profit up 31.5% http://www.banknetindia.com/press/pr1501hb.htm HDFC Bank Q3 net profit up by 31.5% to Rs 818 crores. Central Bank of India raises 500cr http://www.banknetindia.com/finance/markdeals.htm Central Bank of India raises 500 crores to strengthen CRAR. Basel Committee reform package http://www.banknetindia.com/banking/10118.htm Central Bank Governors reinforces Basel Committee reform package. Jammu Kashmir Bank doubles lending http://www.banknetindia.com/press/pr1101.htm Jammu and Kashmir Bank doubles lending in State in 3 years. Cheque Truncation System in India http://www.banknetindia.com/banking/chqtruncation.htm Understanding Cheque Truncation System (CTS) in India- An Special. Report on scope of financial regulation http://www.banknetindia.com/banking/10117.htm Joint Forum releases report on nature and scope of financial regulation. Performance linked salaries in banks http://www.banknetindia.com/banking/10116.htm Is performance linked salaries in public sector banks a feasible option? Asia banking consolidation to intensify http://www.banknetindia.com/banking/10115.htm Asia Pacific banking consolidation to intensify in 2010, Says IDC. Banks to disclose bancassurance fees http://www.banknetindia.com/banking/10114.htm RBI asks banks to disclose bancassurance fees in their balance sheet . Mobile banking to pick up momentum http://www.banknetindia.com/ps10_pr02.htm Mobile banking in India to pick up momentum- Banknet's Payments Conference. Repayment of UTI Special Bonds, 2010 http://www.banknetindia.com/banking/10113.htm Repayment of Government of India UTI Special Bonds, 2010. India's external debt increase to US$243 bn http://www.banknetindia.com/banking/10112.htm India's external debt increase 8.1% to US$ 242.8 bn as at end-Sept 2009. SEBI approves 16 Banks to accept ASBAs http://www.banknetindia.com/banking/10111.htm SEBI authorizes 16 banks in India to accept ASBAs from investors. Full forex earnings credit to EEFC http://www.banknetindia.com/banking/91222.htm Full forex earnings can be credited to EEFC Account, clarifies RBI Life Insurance Co tie-up with RRBs http://www.banknetindia.com/press/pr2312.htm Canara HSBC OBC Life Insurance tie-up with two Regional Rural Banks. Emergence of new BPO Locations http://www.banknetindia.com/banking/91221.htm Diversification results in emergence of alternative Delivery Locations-IDC BSE Banking Index, Bankex recovers 4% http://www.banknetindia.com/stock/bankex.htm BSE Banking Index, Bankex recovers 4% in the improved market. Global reinsurers remain strong http://www.banknetindia.com/banking/91220.htm Global reinsurers remain strong despite challenges, says IAIS. Mobile banking ceiling hiked to Rs 50,000 http://www.banknetindia.com/banking/mobiledec09.htm RBI hikes the daily ceiling for mobile banking transactions to Rs 50,000. Priority sector norms to HFCs tightened http://www.banknetindia.com/banking/91219.htm RBI tightens priority sector bank lending norms to Housing Finance Companies (HFCs). Bankex looses 5.6% in weak market http://www.banknetindia.com/stock/bankex.htm BSE Bankex looses 5.6% in view of below expectation advance tax payments. Proposals to strengthen banking sector http://www.banknetindia.com/banking/91218.htm Basel announce proposals to strengthen the resilience of the banking sector. Consolidation of Indian Banks http://www.banknetindia.com/banking/91217.htm Is consolidation of Indian Banks, the need of hour? SBI General Insurance gets IRDA nod http://www.banknetindia.com/banking/91216.htm SBI General Insurance, a JV of State Bank and Insurance Australia gets IRDA approval. Moody's downgrades three Dubai banks http://www.banknetindia.com/banking/91215.htm Moody's downgrades 3 Dubai banks:- Emirates NBD, Mashreqbank and Dubai Islamic Bank. Bankex looses 1.4% in a flat market http://www.banknetindia.com/stock/bankex.htm In a flat market, BSE Banking index, Bankex looses 1.4%. RBI tightens ECBs norms http://www.banknetindia.com/banking/ecb1209.htm Reserve Bank of India tightens External Commercial Borrowings norms for companies. Bank credit to MSMEs increase by 26% http://www.banknetindia.com/banking/91214.htm Bank credit to MSMEs in India increases by 26% to Rs.1,91,307 crore. Adoption of digital services to grow http://www.banknetindia.com/banking/91213.htm Adoption of Digital Services by Financial Services to grow over next 3 years-IDC. RBI's Vision for Payment in India http://www.banknetindia.com/ps10_pr01.htm Reserve Bank of India's Vision for Payment Systems in India - 2009-12 Recovery in Bankex on RBI clarification http://www.banknetindia.com/stock/bankex.htm RBI clarification on provision help brief recovery in the bank stocks-Bankex. Insurance and reinsurance will recover http://www.banknetindia.com/banking/91212.htm Global Insurance and reinsurance will continue their recoveries in 2010-Swiss Re. Guidelines for profitable SME Banking http://www.banknetindia.com/banking/91211.htm IFC provides guidelines for profitable SME Banking in developing countries. RBI relaxes bank branch opening norms http://www.banknetindia.com/banking/brlicense.htm RBI relaxes branch opening norms for Indian scheduled commercial banks. FATF cautions about 5 countries http://www.banknetindia.com/banking/91132.htm FATF asks Banks/FIs to take special caution in dealing with 5 countries Banks to ensure genuine banknotes http://www.banknetindia.com/banking/notesorting.htm RBI ask banks to ensure issuance of clean and genuine banknotes. Bankex fell on fears of Dubai crisis http://www.banknetindia.com/stock/bankex.htm BSE Banking Index, Bankex fell 3.2% on fears of financial crisis in Dubai. Education Loans register 29% growth http://www.banknetindia.com/banking/91131.htm Education Loan accounts of Public Sector Banks register a growth of 29%. NAB to expand arrangement to $600bn http://www.banknetindia.com/banking/91130.htm NAB agree to expand IMF's borrowing arrangement to up to US$600 bn. NLMA signs MoU with Indian banks http://www.banknetindia.com/banking/91129.htm National Literacy Mission Authority (NLMA) signs MoU with four Indian banks. Sovereign Fund for capital market http://www.banknetindia.com/banking/91128.htm Form Sovereign Fund to arrest volatility in capital market, proposes Assocham. Dr Gokarn is the new RBI Deputy Governor http://www.banknetindia.com/banking/91127.htm Dr Subir Gokarn takes over as Deputy Governor of the Reserve Bank of India. Policymakers globally must collaborate http://www.banknetindia.com/banking/91126.htm Policymakers Globally Must Collaborate to Effectively Face Key Challenges Ahead-IMF. Bankex is the top gainer, up by 2.1% http://www.banknetindia.com/stock/bankex.htm BSE Banking index, Bankex, the top gainer during the week and up by 2.1%. Govt globally focusing on tax reforms http://www.banknetindia.com/banking/91125.htm Government focus around the world remains on tax reform, says World Bank Report. Govt to divest equity in CPSUs http://www.banknetindia.com/banking/91124.htm Indian Government to divest equity and list profit making CPSUs. Investment income help insurer's profits http://www.banknetindia.com/banking/91123.htm Investment income help general insurers report profits, despite underwriting losses-Crisil Domestic BPO market to grow to US$ 6.82bn http://www.banknetindia.com/banking/91122.htm India's Domestic BPO market to grow to US$ 6.82 billion by 2013, says IDC India. Bank NPA's up by 26% in Q2 FY10 http://www.banknetindia.com/banking/91121.htm Bank NPA's up by 26% in the second quarter of FY 2010, reports assocham. IndiaFirst Life Insurance gets approval http://www.banknetindia.com/banking/91120.htm IndiaFirst Life Insurance is the 23rd Life Insurance Company in India . Bankex continue upward trend gains 5.3% http://www.banknetindia.com/stock/bankex.htm BSE Banking Index continue upward trend and gains 5.3% during the week. US financial sector outsourcing double http://www.banknetindia.com/banking/91119.htm Global outsourcing market drops 10%, but US financial sector outsourcing double. EURO 89.2 million for Indian MSMEs http://www.banknetindia.com/banking/91118.htm SIDBI and KfW sign agreements for EURO 89.2 million assistance to MSMEs. Systemic risk and the insurance http://www.banknetindia.com/banking/91117.htm IAIS release initial analysis of systemic risk and the insurance sector Reward programs key for banks http://www.banknetindia.com/banking/91116.htm Deposit Rewards programs key for banks to retain customers-TowerGroup Bankex gains 4% during the week http://www.banknetindia.com/stock/bankex.htm Bankex, BSE Banking Index recovers and gains 4% during the week. Insurers to go for IT Outsourcing http://www.banknetindia.com/banking/91115.htm Insurers In Asia/Pacific Are Increasingly Receptive To IT Outsourcing, Says IDC. Maintain Fiscal Support,says IMF http://www.banknetindia.com/banking/91114.htm Maintain Fiscal Support, but Devise Credible Exit Strategies, Says IMF. PNB net profit grows up by 31.1% http://www.banknetindia.com/press/prb2910.htm Punjab National Bank registers net profit growth of 31.1% in Q2, FY10. Central Bank net profit up by 227% http://www.banknetindia.com/press/pr3110.htm Central Bank of India net profit up by 227% for Q2 FY10 on QoQ basis. IAIS support G-20 Declarations http://www.banknetindia.com/banking/91113.htm International insurance supervisors support G-20 Declarations . Global Bank Downgrades Decline http://www.banknetindia.com/banking/91112.htm Global Bank Downgrades Decline by More than 50% in Q3, says Fitch Ratings. IMF Sells 200 tons of Gold to RBI http://www.banknetindia.com/banking/91111.htm IMF Announces Sale of 200 metric tons of Gold to the Reserve Bank of India.