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Rs. 90 crore for rural infrastructure
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The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs. 90.12 crore as loan assistance to the Government for building rural infrastructure
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UBI organises credit camp in districts
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The city-based United Bank of India(UBI) today sanctioned Rs 20 crore as housing, home and perosonal credits to 1650 beneficiaries during a credit delivery camp in Hooghly district in South Bengal.
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RBI directive to ease coin shortage in NE
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To overcome the shortage of coins in the North East, the Reserve Bank of India has asked the banks operating in the region to install coin vending machines.
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Bandhan Microfinance to offer WU service
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The Western Union Company (NYSE: WU), a global leader in money transfer services, on Wednesday announced that Bandhan, amongst India's leading microfinance companies
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World Bank team happy with preparations for water project
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A three-member World Bank team is by and large happy on the ground preparations made for implementation of a Rs. 816-crore second phase of the Karnataka Rural Water Supply and Sanitation Project (KRWSS)
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Banking Ombudsman gets 1000 complaints a month, says official
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The office of Banking Ombudsman, Chennai, that received the highest number of complaints during 2009-2010 (July to June) had cleared 96.5 per cent of it against 88.2 per cent in the corresponding period last year.
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NABARD to Refinance Cooperative Banks @ 4% p.a. during 2010-11
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National Bank for Agriculture and Rural Development (NABARD) has reported that as per Government of India (Gol) policy, crop loan to farmers is being extended by lending institutions w.e.f. 2006-07 @ 7% p.a. (upto Rs. 3 lakh crop loan)
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Banking System Issued 925.17 Lakh Kisan Credit Cards Till 31st March 2010 Rs. 417,326 Crore Sanctioned Under KCC Till 31st March 2010
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National Bank for Agriculture and Rural Development (NABARD) has reported the number of Kisan Credit Cards (KCCs) issued to the farmers all over India
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RBI Issues Master Circular on Credit Card Operations W.E.F Ist July, 2010
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In order to ensure that Banks/ Non-Banking Financial Companies (NBFCs) run their credit card operations in a fair and regulated manner, Reserve Bank of India (RBI)
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RBI Asks Banks to Exercise Due Care and Precaution for Protection of Customers’ Lockers Staff to be Trained about Security Procedure
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In terms of Reserve Bank of India (RBI) Master Circular dated July 1, 2010 on Customer Service, banks have been advised that they should exercise due care and necessary precautions for the protection of the lockers
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Committee Set Up To Examine Financials Of RRBs Recommends Recapitalisation Of 82 RRBs
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A Committee under the Chairmanship of Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India was constituted in September, 2009 to examine the financials of Regional Rural Banks (RRBs)
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Call to coordinate with bankers to help self-help groups in Tirupur
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Collector C. Samayamoorthy has instructed the Block Development Officers (BDOs) to coordinate with the bankers on guided interventions relating to formation of women self help groups and credit-related issues of the groups.
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ADB grants $20 m for Sikkim tourism
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Sikkim Tourism Department has received a tourism infrastructure development grant of $20 million from the Asian Development bank (ADB) for development of tourism in the State.
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SBH launches new services, products
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As part of its efforts to improve customer service, the State Bank of Hyderabad (SBH) on Thursday launched a SMS-based round-the-clock customer feedback service to resolve grievances and to receive suggestions.
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Islamic financial body in Kerala: petition adjourned to Sept 7
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The Reserve Bank of India was Thursday asked by the Kerala High Court to file by September 7 its counter on a petition challenging an Islamic financial institution in the state on the lines of Islamic banks.
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Now, withdraw Rs one lakh at ATMs; shop for Rs 1.25 lakh a day
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Bank customers can soon withdraw up to Rs one lakh in a single day from ATM machines, and can shop for even an higher amount of Rs 1.25 lakh with their debit cards.
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Punjab & Sind Bank likely to get IAS head
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Unable to find a senior Sikh banker to replace G S Vedi at Punjab & Sind Bank, the finance ministry has begun the search for an IAS officer to be appointed as the Delhi-headquartered bank’s chairman & managing director.
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Birla Sun Life MF inks distribution pact with Oriental Bank
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Birla Sun Life Mutual Fund (BSLMF) and Oriental Bank of Commerce (OBC) have signed an MoU for a strategic alliance, whereby the bank will distribute and market BSLMC's mutual fund products through its branches.
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NFS banks to pay 80 paise per ATM transaction
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Banks on the National Financial Switch (NFS), the largest ATM network in the country, will now have to pay a fee of 80 paise per transaction. The move is, however, unlikely to change ATM withdrawal charges for customers.
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Indians wary of sovereign Africa funds, finds survey
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Despite a large pool of funds, India views sovereign wealth funds (SWFs) of many African countries like Nigeria, Libya, Botswana and Algeria with caution, says a survey.
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PMO rejects FinMin proposal on bank chief appointments
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The Prime Minister’s Office (PMO) has turned down a finance ministry proposal to allow bankers with less than two years of residual service to be appointed as public sector bank chiefs.
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Bank stocks revive on move to ease liquidity
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Bank stocks saw a revival of sorts as the central bank yesterday announced steps to ease liquidity conditions. The BSE Bankex rose 2.55 per cent, the most among sectoral indices.
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Tripura to act against unauthorised non-banking bodies
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The Tripura government Wednesday decided to take action against unrecognised non-banking financial institutions (NBFIs) which are collecting deposits from people violating the Reseve Bank of India (RBI) guidelines.
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StanChart to infuse $50m in brokerage arm
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Standard Chartered has said it will infuse $50 million in subsidiary UTI Securities after acquisition of the remaining stake of close to 26 per cent by the third quarter of 2010.
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Opposition accuses Tripura CM of encouraging cheat fund
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Leader of the opposition Ratan Lal Nath accused Tripura Chief Minister Manik Sarkar of encouraging dubious Non Banking Financial Institutions (NBFI) who were blacklisted by Reserve Bank of India (RBI) and Security and Exchange Board of India (SEBI) by attending their different programme.
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