Jun 19, 2007
RBI launches multi-lingual site
The Reserve Bank of India launched a multi-lingual site-carrying information in 13 languages. The site includes recent instructions of the RBI on customer service, frequently asked questions, lending rates of banks, banking ombudsman scheme, Right to Information Act and links to commercial banks' Websites. the site can be accessed at www.rbi.org.in/
Get online, not in line, to pay tax
Paying taxes has never been simpler with the authorities introducing online payment. The procedure for payment of taxes online is simple. To start with, you need to log on to NSDLTIN website (www.tin-nsdl.com) and click on the ‘e-Tax-online payment’ option. You will then be directed to a list of banks that provide the e-tax payment facility. Depending upon the bank you hold an account with, you need to click on the option and choose the tax challan applicable in your case. On opting for the challan type applicable, particulars such as the permanent account number (PAN) or tax deduction account number (TAN) as may be applicable, name and address of the taxpayer, relevant assessment year, type of payment and name of the bank will be displayed. Once the process is complete and the bank processes the online transaction, you will be issued an acknowledgment indicating the challan identification number (CIN). After a week of making the payment, the status of the payment may be verified at the NSDLTIN website under section ‘Challan Status Inquiry’.
Software tool for reverse mortgage products
Cashing in on the banking community's enthusiasm for reverse mortgage products, Nucleus Software plans to launch a reverse mortgage solution for banks and financial organisations in the next three months. The reverse mortgage solution is being offered as an upgrade of Nucleus' `FinnOne' range of lending solutions and hence does not require additional efforts on the part of banks and financial institutions to integrate it with existing systems
IDBI opens centralized treasury
Industrial Development Bank of India (IDBI) inaugurated a centralized treasury, which will act as a single point reference on interest and exchange rates for all its 434 branches. The treasury will deal the bank's investment portfolio, government securities, corporate bonds, money market, forex and will also provide proactive cash and interest rate risk management services. The IDBI Chairman and Managing Director, Mr V.P. Shetty, said. With the fixed income, equities, money market, foreign exchange and derivatives desks under a single roof, the information flow and decision-making will be seamless.
ICICI issue price band at Rs 885-950
ICICI Bank has fixed a price band of Rs 885-950 per share for its follow-on public issue of shares. At the lower end of the band, the issue price would be at a 2.5 per cent discount to the stock's closing price on Friday (Rs 908) on the BSE; at the higher end, it would be at a premium of 4.6 per cent to the last traded price. The book-building issue starts on June 19 and closes on June 22. Retail bidders, including existing retail shareholders, will be allotted shares at a discount of Rs 50 per share to the issue price. The bank plans to raise Rs 10,062 crore (including a green shoe option of Rs 1,312.5 crore) from the domestic stock market. ICICI Bank will raise an equivalent amount through an issue of American Depository Shares.
After core banking, PSU banks open call centres for better customer reach
A number of public sector banks are in the middle of setting up call centres this fiscal. This follows the implementation of core banking solution, which provides a centralised database and allows banks to deploy this new channel for customer service. The country’s largest bank, State Bank of India, which already has a call centre, is planning to expand its capacity in a big way. Union Bank of India, Punjab National Bank, Corporation Bank and Bank of India are in the final stages of setting up their captive BPOs, senior officials from these banks. So far, banks like SBI, Corporation Bank and Bank of India had outsourced call centres, which largely handle product and ATM-related queries. “In the next three months, we plan to introduce a few more products on the call centre platform,” according to a senior SBI official. Corporation Bank, the first public sector bank to bring all branches on the core banking platform, has a call centre, which services its credit and debit card clients. “The blueprint is ready for our own customer-management call centre, which we will launch soon,” said a high-ranking Corporation Bank official
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