The credit paid out by listed commercial banking institutions arose 23.4% (Rs 3,654.48 billion) on a yearly basis on Aug. 3, 2007 that is under the growth of combined bank deposits of 24.3%.

New Delhi: Sudarshan Motwani, Head-Foreign Exchange Serv

Mumbai: SBI Funds Management Pvt Ltd has tied up with Dena Bank to increase the fund’s reac

The Industrial Development Bank of In

New Delhi: In a report, global consultancy firm KPMG stated that Indian Banks and some other Asia-Pacific countries should perk up their staff abilities to control money laundering actions as training programmes are fairly unsophisticated and laws outdated.

According to a worldwide study by KPMG Forensic, “Respondents across Asia-Pacific tell us that training in many parts of the region is relatively unsophisticated, reflecting outdated legislation and lack of regulatory pressure.”

The study mentioned that 17 per cent of the responders in the area alleged they give training in anti-money laundering (AML) actions to below 40 per cent of their employees.

In early trading, State Bank of India (SBI) is quoting at Rs 1,542.90, depressed Rs 72, or 4.46%. It also touched an intraday high of Rs 1,585 and an intraday low of Rs 1,518.60.