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FINANCIAL SERVICES
Large payments only thru e-mode from April
Mumbai, Feb. 18 Payments of Rs 1 crore and above between banks, NBFCs, primary dealers and any other entities regulated by the Reserve Bank of India may be allowed only through electronic mode from April 1. Mr V. Leeladhar, RBI Deputy ... More

INSIGHT
Forex Reserves Management: IMF guidelines and Indian practice
More

FOREX
Rupee weakens on dollar buying
The rupee weakened by 11 paise against the greenback on the back of dollar buying by both foreign and nationalised banks. The home currency opened at 39.64/66 and saw an intra-day high of 39.63 before ending the day at 39.78/79, down from the ... More

INFORMATION TECHNOLOGY
Cash withdrawal from ATMs to be free
Mumbai, Feb. 18 Banks will now have to make withdrawals from ATMs free of charge for their own customers. Requests for balance enquiries would have to be made free to customers of other banks as well. In a draft circular, the RBI has asked ... More

GENERAL INSURANCE
Weather insurance pilot may cover 10 lakh farmers
Mumbai, Feb. 18 As many as 10 lakh farmers are estimated to be covered under the weather insurance plan by end of the current rabi season.The Agriculture Insurance Company (AIC) alone expects to cover over 5 lakh farmers and insure over ... More

RBI & OTHER CENTRAL BANKS
RBI eases norms for opening bank a/c
Mumbai, Feb. 18 Individuals who do not have an individual proof of residence can now open an account with any bank by producing the utility bill of a close relative as a proof of residence along with a declaration from the relative, said a ... More

PUBLIC SECTOR BANKS
Union Bank opens 5 more branches
More

Canara Bank launches online trading facility
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FOREIGN BANKS
UBS gets RBI nod to set up branch in India
Representative office may be upgraded More

GOVT BONDS
23 fertiliser companies to get bonds worth Rs 3,610 cr
New Delhi, Feb. 18 The Finance Ministry on Monday announced that fertiliser bonds for Rs 3,610 crore are being issued at par to 23 fertiliser companies. These bonds are being issued as compensation towards subsidy during the current ... More

SLR status issue weighs on bonds
More

SHORT TERM INSTRUMENTS
Call rates close higher
More

TRADE & LABOUR UNIONS
SBI staff to strike work on Feb 25, 26
Thiruvananthapuram, Feb. 18 The officers and staff of State Bank of India will observe a two-day strike on February 25 and 26 in support of various demands.The strike call has been given jointly by All India State Bank of India Staff ... More

Strike call: Govt to hold talks with bank unions today
New Delhi, Feb. 18 In a move to placate the bank employees, who have decided to go on strike on February 25 and 26, the Finance Ministry has convened a meeting with the United Forum of Bank Unions (UFBU) here on Tuesday to discuss the issues ... More

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