CANARA BANK
Article Abstract:
Canara Bank, a leading public sector bank in India has 12 ATM branches connected through leased line based wide area network. The Bank proposes to connect 35 additional branches in Bangalore to the ATM network by March 31, 1999. Around 733 of its branches are Year 2000 compliant and the rest will become compliant by March 20, 1999. The bank has incurred an expenditure of Rs115 crore on computerisation since inception. During 1998-99, it spent Rs18 crore on computerisation. The bank has 55,211 employees of which 20,000 personnel are computer literate. Canara Bank has started an in-house training programme for computer literacy. It hopes to achieve 100 percent computer literacy by 2001 AD. The bank proposes to have 350 fully computerised branches and 550 partially computerised branches by March 31, 2000 AD. (uh)(vr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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HEED THIS WARNING
Article Abstract:
The annual report of the Reserve Bank of India (RBI) has indicated an increase in the revenue deficit of the Government of India in 1997-98 to 3.1 percent of the GDP. This has resulted in an increase in net borrowing at Rs42,484 crore - 49.2 percent of the gross fiscal deficit (GFD) - in 1997-98. The estimated figure during the budget was Rs33,820 crore. The gross market borrowing is expected to increase by another 30 percent during 1998-99. The gross market borrowing is expected to increase by 33 percent in 1998-99. This will increase the pressure on market interest rates, although the Government completed nearly 74 percent of its net borrowing programme by August 1998. These views have been expressed in an editorial. (gs)
Comment:
Indicates an increase in revenue deficit of the Government of India in 1997-98 to 3.1% of the GDP
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HONGKONG BANK STANDS BY INDIA, TO EXPAND OPERATIONS
Article Abstract:
Hongkong Bank has decided to retain its long-term commitments to India and has stated that its operations in the country will not be affected due to India's recent nuclear tests. The bank which has launched its central services facility in Mumbai on June 11, 1998, intends to expand its operations in India. It plans to open more branches and offer services in the retail and trade finance sectors in the country. (gs)
Comment:
Decided to retain long-term commitments to India & says operations in country will not be affected due to recent nuclear tests
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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