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 Finance
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Finance
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BSE ties up with NYIF for financial training
RBI to increase bond sales
Syndicate Bank's Smart Card
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GDP Comparitive Study
Smart, very smart
All Purpose ATM
Cowrie Shells to Virtual Currency
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Bombay Stock ExchangeBSE ties up with NYIF for financial training

BSE has tied up with the US-based New York Institute of Finance, NYSE-promoted institute for providing capital and financial market-related training in India. NYIF is considered a pioneering training institute in providing education and is widely recognised as the leader in Net-based training for the financial services professional worldwide. The initial tie-up would be for running three training programmes. More programmes would be run in future depending upon the kind of response from investors. The tie-up will help investors get in-depth and latest information on capital and financial markets entirely from the international faculty.

BSE will run three programmes covering issues relating to corporate governance, advanced derivative and risk management. The exchange will incur a cost of Rs 10-12 lakh for each programme.

(Source: Economic Times)


RBI to increase bond sales

rbi_logoThe Reserve Bank of India is expected to increase open market sales of governmentRBI Building, Mumbai bonds to regulate money market liquidity which is expected to get a huge boost in the near term from overseas deposit collections. The sales will also help the central bank reduce the current high level of monetisation.

ICICI Securities and Finance Co estimates monetisation at 180 billion rupees till date in the current financial year (April-March), compared to zero a year earlier. Monetisation has increased this year because the central bank has been forced to pick up government debt after recurrent bouts of currency and interest rate volatility scared banks away from investing.

Money market liquidity is expected to be sharply increased from inflows of the SBI's India Millennium Deposit plan. The inflows will bolster reserves but the increased liquidity will also present a challenge to the central bank in the absence of sufficient credit demand from industry. Analysts feel that the central bank will try to regulate liquidity to prevent a distortion in money market yields. 


SYNDICATE BANK'S SMART CARD

Manipal-based Syndicate Bank is now getting into the high tech act. It is all set to have its centralised banking solution in place within 8-10 months. D T Pai, the CMD, believes this will help the bank outsmart competition.

The bank is expected to spend Rs 100 crores over a period of three years as part its computerization plans. It will unveil a smart card which will enable a number of customer
services like Internet banking and telebanking.
In order to increase revenue from non-risk areas, Syndicate Bank is planning to collect
Unit Trust of India (UTI) investments at select branches by the year-end. The investment
will be collected at a price and kept in a separate account.



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