Exim Bank debt offering
Mumbai: The Export Import Bank of India has completed its Rs 700-crore third debt offering with a tenure of one to five years. The issue has been done on a private placement basis through the book building route. The bank could get a coupon rate of 11.90 per cent for the five-year bonds and 11.70 per cent for the three-year bonds.
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IDBI to subscribe to IFCI rights
Mumbai: The Industrial Development Bank of India will subscribe to its full entitlement of the 1:1 rights issue of the Industrial Finance Corporation of India. IDBI’s contribution will work out to Rs 99 crore. IDBI is the largest shareholder in IFCI, followed by the Life Insurance Corporation, General Insurance Corporation and the Unit Trust of India.
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ICICI Bank launches Internet banking for NRIs
Mumbai: ICICI Bank has introduced an Internet-based banking service for non-resident Indians, who can now open accounts with the banks on-line. The bank has an NRI client base of 15,000. The bank’s Internet service for domestic clients, Infinity, is already in operation, and it has some 15,000 customers. Besides, for the NRIs, it has a web-based remittance facility called Money2India, through which funds can be transferred to 173 locations in India. It is not necessary for the NRI using the facility to be an account-holder of the bank.
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4 bank officers' unions agree to IBA proposal
Mumbai: Four officers’ associations of banks have reached a wage accord with the Indian Banks’ Association under which wages will be increased 12.25 per cent.

The IBA said the officers' associations have come around to accept its offer and the exercise is to work out details. The IBA also said that, among the workers’ unions, the All India Bank Employees’ Association is also coming to terms with the IBA offer.
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