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Nov 29, 2007

Jobs in ICICI Bank : Click here for more details

Here is the beginning of my post. And here is the rest of it.ICICI bank is hiring for more details visit; http://groups.google.com/group/the-bank-page/web/vacancies-in-icici-bank

Banks lure Gen Next with new schemes

Here is the beginning of my post. And here is the rest of it.With 50% of India’s population consisting of youngsters, bankers are increasingly targeting kids and teens by offering products that meet their requirements. And with a third of the population aged between four and 14 years, kids are playing an important role in purchase decisions from consumer durables to automobiles. “We recognise the changing role of children in purchase decisions and want to harness them by introducing them to banking and money management,” says Maninder Juneja, head-retail liabilities, ICICI Bank. Similarly, HDFC Bank also has a Kids Advantage account. Features include a free education insurance cover upto Rs one lakh. Moreover, amounts in excess of Rs 5,000 over and above a balance of Rs 10,000 gets converted into fixed deposit for a specific period in the child’s name. Even nationalised banks are catering to Gen Next. Indian Bank launched its saving product IB Smart Kid in Aug 2007 targeting kids below 18 years.

Realty claims a third of private bank loans

Here is the beginning of my post. And here is the rest of it.For every Rs 10 lent by new private banks, Rs 3 was lent to the real estate sector. In FY07, 32% of their loans were to the ‘sensitive’ real estate market, including direct and indirect exposures. This was despite tightening of lending norms during the period. Even foreign banks had a high share of 26.3% of its total advances in the market in FY07. In contrast, public sector and old private sector banks were more conservative in their real estate exposures with shares at 15.1% and 16.6% of their respective total loans in FY07. Interestingly, the real estate exposure rose sharply, despite several prudential measures initiated by the central bank during the fiscal year, requiring banks to set aside additional capital.

LVB's funds transfer facility

Here is the beginning of my post. And here is the rest of it.Lakshmi Vilas Bank has gone live with National Electronic Funds Transfer transactions across its 156 CBS-enabled branches in the country. The facility is expected to enable LVB customers to transfer funds between banks in a quicker and more secure manner. The bank introduced the `Lakshmi Super Fast money' two months ago. The product facilitated real time gross settlement transfer of funds to the tune of Rs 1 lakh and above among banks, at a flat commission of Rs 50 per transaction. The bank has also introduced on pilot basis a flexible deposit scheme `Lakshmi Freedom Deposit' with sweep out - sweep in facility in select branches