Banking and Finance
New proposals unlikely to spur investment
THE recent recommendations issued by the RBI-SEBI committee on banks' investments in equity, debentures and mutual funds are a mixed bag.

Burning the midnight oil in protest!
THE employees of Central Bank of India are planning a novel protest. But for that, the management has to agree!!

PNB enters gold import business
PUNJAB National Bank on Wednesday marked its entry into the business of gold importation, with the token sale of gold to two Chennai-based jewellers here.

GTB to focus retail banking
GLOBAL Trust Bank (GTB) is planning to broadbase its retail customer base to six lakhs by March 2001 and over a million by March 2002. To achieve this, the bank plans to set up 300 ATMs by March 2001 and increase its branch network to 100.

Securities revive as repo rules steady
THE Reserve Bank of India on Wednesday left repo rates unchanged for the second consecutive day, absorbing Rs. 1,320 crores at 12 per cent in the one-day repo and Rs. 1,360 crores at 13 per cent for the five-day repo. The RBI also injected Rs. 50 crores into the system at 13.5 per cent through the reverse repo auction.

BNP Paribas to offer DP services
BNP Paribas is planning to launch NSDL depository participant services for its private bank customers shortly. The services would be extended to the bank's retail customers when it launches retail banking, which it intends to do by the end of the year, b ank officials told Business Line.

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