Mr. Pranab Mukherjee, Finance Minister, inaugurated five branchless banking units (Grameen Vikas Kendras), a biometric ATM of Corporation Bank and its 1170th branch at Sagardighi in Murshidabad district of West Bengal on Monday,the bank said in a press release .
Mr. Mukherjee said that the Government, in consultation with the Reserve Bank of India, has decided to provide appropriate banking facilities to habitations having population in excess of 2000 by March 2012.The benefits of welfare programmes such as those provided by the Mahatma Gandhi National Rural Employment Guarantee Act or payment of wages in lieu of work, pension etc. will be routed through the banks directly to the beneficiaries, so that there will be no pilferage through middlemen. Banking services will be provided to everyone within their reach through branch, mobile, internet, business correspondents, he said.( BL 28092010)
Tuesday, September 28, 2010
Central Bank plans Rs2500 crore rights issue this fiscal
Public Sector Central Bank of India said on Monday that it will come out with a rights issue to raise around Rs 2500 crore in this financial year. The funds will be issued for normal operations said the bank's CMD, Mr.S.Sridhar while attending a conference on " Finance and Investment" organised by CII. He further said that the bank is assessing the market and is taking all the necessary steps. The bank is yet to approach the SEBI. It will be filing its Red Herring Prospectus shortly. The bank has already appointed the merchant bankers for the rights issue.(BL 28092010)
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