Dena Bank will provide loan upto 90% of the cost of vehicle (on road) to eligible borrowers on merits for purchase of three wheeler passenger auto rickshaws at a very attractive rate of interest.

Bajaj Auto has pan India presence and with this tie up they will be able to increase their market share especially in the states of Gujarat and Maharashtra, where Dena Bank is having very strong presence.

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This facility will enable the Bank’s customers to apply for public issues/ rights issue without transferring funds for the application amount and thereby earning interest on their deposits in SB accounts. On allotment, the amount for allotted shares only will get transferred from the customer’s account.

The Bank is also ready to accept ASBA forms from Syndicate and Sub-syndicate members in all the twelve centres where this facility has been introduced by SEBI. Hence, the Bank is starting with both SCSB ASBA and Syndicate ASBA modules as per SEBI guidelines.

The Bank will be accepting the ASBA forms in 131 identified branches spread across 70 centres covering all major places in the country, which includes 29 centres in state of Gujarat. The branch lists for both SCSB ASBA and Syndicate ASBA are available on the website of the Bank as well as SEBI.

With starting of this facility, the Bank will be able to serve its customers active in share market. Thus the basket of services offered by the Bank is enlarged with one more service. It is in line with the Bank’s endeavour to offer more and more services to its customers.

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Tel: +91 22 22188880, cell : 09821736716

Email: pr@pressmanindia.com

About IFC
IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org.
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Dena Bank while offering the highest interest among PSU banks, aims to grab the opportunity to widen the share of NRE term deposit in an effort to boost NRI deposit portfolio.

Coincidently, Dena Bank observes NRI Deposit Mobilisation Campaign from December 16, 2011 to January 31, 2012 for the current NRIs coming home season. Dena Bank is quite hopeful that this enhancement in interest on NRE term deposit will certainly facilitate attract more and more of such deposit.

As one of the measures to support economy, through deregulating interest rates on Non-Resident (External) Rupee (NRE) term deposit account, intention of Reserve Bank of India is quite clear to cheer NRIs abroad by prompting them to invest more and more funds with banks in India so as to curb the outflow of funds from India by FIIs (Foreign Institutional Investors) from the stock market.

Looking to the quantum of NRE term deposit as compared to domestic accounts, Indian banks may find this as cost effective even after such huge increase in NRE interest rate.

Now with the steep competition in NRE term deposit interest, Indian banks may prove as heaven for NRIs abroad to have wider choice of banks to park their investment.

The revised interest rates effective from December 23, 2011 are as under :

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Seen in the photograph, Mr. M.K Sharma, General Manager (MSME), Dena Bank and Mr. Sudhanshu Verma, Head – Retail Channel Finance and Insurance Tata Motors Ltd. (CVBU) who have signed the MoU at a function held in Mumbai.

Dena Bank will provide loan up to 85% (on road) to eligible borrowers on merits for purchase of commercial vehicles manufactured by TATA Motors Ltd. for a maximum tenure of 7 Years, at a very attractive rate of interest.

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Mr Ravi Mathur, Zonal Sales Manager, Magma Fincorp Limited said, “We will continue with our focus on providing asset finance to the economically disenfranchised in Gujarat and expect to further grow in the states. This will help in strengthening our market share in each of the segments. For this, we would also increase our manpower strength to suit the challenge of high growth trajectory.”

Buoyed by the growth it witnessed across all product categories in the last financial year, Magma has a focused growth plan charted out for the state. The company disbursed Rs 392 crores in FY11, which was 57% higher than FY10. Commercial Vehicle Finance, SME Loan, Suvidha (Refinance) and Tractor Finance posted a healthy growth of 161%, 88%, 64% & 41% respectively. The aggressive marketing strategy adopted by the company helped in attaining this phenomenal growth rate and played a major part in the market expansion drive for the company in this region. Company’s focus on rural markets also emphasises it’s motto of bringing equality of opportunity to the economically disenfranchised.

In the first quarter of the current financial year, the company has already experienced an overall growth of 11% in Gujarat, compared to the corresponding period of the last financial year. Suvidha (Refinance), Tractor Finance & Car Finance witnessed a growth of 356%, 190% & 166% respectively.

Magma has 7 branch offices in Gujarat in Ahmedabad, Gandhidham, Jamnagar, Vapi, Surat, Palanpur & Rajkot and employs over 130 people in the state. Having already opened a branch in this year in Vapi and Jamnagar, Magma will be opening two new branches in Baroda and Amreli within the next few months.

“The primary sales of assets have witnessed robust growth in the past several quarters and we hope the same would continue. This augurs well for our business. With the development of infrastructure further, we hope our products will continue to do well as majority of them cater to the growth in rural and semi urban markets”, added Mr Mathur. He also said that the company, apart from consolidating its position for its core products like Car, Commercial Vehicle & Construction Equipment finance in the market, will also focus to grow the higher yield products – Tractor Finance, Suvidha (Refinance) & SME Loan, which will contribute significantly to the company’s business.

The event also marked the celebration of Central Bank of India completing 100 years of service to the nation. Central Bank of India will be conducting the centenary celebration on its foundation day 21st December 2011. The Bank has undertaken several initiatives during the year to promote inclusive growth through financial inclusion & contribution in economic development of the nation.

Delivering the welcome address, Ms. Preeta Misra, Leader – Learning Solutions, D&B India said “It is now well accepted that MSMEs are stepping stones of entrepreneurship development, innovation and risk taking behaviour and provide the foundation for long term growth, especially in developing countries such as India. MSMEs provide employment to around 69 mn people, through 26 mn units. Moreover, MSMEs account for around 45% of the country’s manufacturing output. In recognition of this contribution, Dun & Bradstreet Learning Solutions is pleased to be associated with Central Bank of India to serve the specific needs of the MSME community with innovative, high quality, comprehensive training and education programs”.

Speaking on the occasion, Mr. Anand Mohan, AGM- Mid Corporate Finance Branch, Central Bank of India, said, “Central Bank of India is happy to be associated with Dun & Bradstreet to conduct these MSME Symposiums as part of its centenary celebration. Over the last few months the bank has taken several initiatives to improve financing in the MSME sector.
 The Bank has designated additional 142 branches as Specialized MSME branches taking the total number of specialized branches to 202.
 MSME portal was introduced in the Bank’s website incorporating all our lending schemes and simplified Common Application Form.
 Introduced Vendor (MSME Borrower) Financing Scheme
 Introduced Dealer (MSME Borrower) Financing Scheme
 Launched SRTO Scheme under Tie Up with automobile companies like Tata Motors and Ashok Leyland.
 Establishment of 46 RSETI for imparting training to Rural Unemployed Youths for undertaking gainful enterprises.
 Opened 37 FLCCs across the country”.

He further added, “Entrepreneurship Development Programmes for MSMEs are being conducted across the country in association with Dun and Bradstreet and till date 9 such EDPs have been held. 12 more symposiums were organized in our Zonal Head Quarters in association with D&B and CARE Ratings”.

The interactive sessions were not only educative but also enabled a dialogue amongst various participants that will eventually create a robust eco-system in the rapidly evolving Indian MSME landscape. Key note addresses were made by Mr. Rajeev Chawla, President, Faridabad Industries Association, Mr. P K Jain, Chairman and Managing Director, Malt India Pvt Ltd and Ms. Sanchita Majumdar, Assistant General Manager , SIDBI, New Delhi.

About Dun & Bradstreet (D&B)

Dun & Bradstreet (NYSE:DNB), the world’s leading source of global business information, knowledge and insight, has been enabling companies to Decide with Confidence® for 170 years. D&B’s global commercial database contains more than 200 million business records. The database is enhanced by D&B’s proprietary DUNSRight® Quality Process, which transforms the enormous amount of data collected daily into decision-ready insight. Through the D&B Worldwide Network – an unrivaled alliance of D&B and leading business information providers around the world – customers gain access to the world’s largest and highest quality global commercial business information database.

Customers use D&B Risk Management Solutions to mitigate risk, increase cash flow and drive increased profitability, D&B Sales & Marketing Solutions to analyse markets, locate prospects and increase revenue from new and existing customers; D&B Export Marketing Solutions to gain significant insight into overseas markets and increase sales; D&B Learning Solutions to facilitate professional growth and excellence among their executives and D&B Economic Analysis Group to derive pragmatic and solution-oriented analyses of strategic economic and business developments, thereby aiding informed decision making.

D&B featured on FORTUNE Magazine’s Most Admired Companies Industry List for four consecutive years (2006 -2009), ranking first in the Financial Data Services category. D&B ranked first in the areas of employee talent, financial soundness, long-term investment, quality of management and use of corporate assets. In 2011, D&B featured on the World’s Most Ethical Companies list in the Business Services category by Ethisphere. The World’s Most Ethical Companies designation recognizes companies that truly go beyond making statements about doing business “ethically” and translate those words into action.

For more information please visit www.dnb.co.in

The eminent jury panel of Microfinance India Awards 2011 selected the winners on the basis of their performance in growth, social performance, innovation (process, product and technology) and promotion of responsible finance. The awards were presented to the following recipients:
• Ujjivan Financial Services Pvt. Ltd., Microfinance Organization of the Year Award for large MFIs
• Sanghamithra Rural Financial Services Pvt. Ltd., Microfinance Organization of the Year Award for small and medium MFIs
• Center for Microfinance (IFMR), Contribution to the Sector by Enabling Institution
• Prof. David Gibbons, Chairman, CASHPOR, Contribution to the Sector Award (Individual)
• Mr. Y.C. Nanda, Chairman, Agriculture Finance Corporation and Former Chairman NABARD, Jury’s Special Award for Lifetime Achievement

The distinguished Jury panel was chaired by Ms. Naina Lal Kidwai, Country Head India, Director HSBC, Asia Pacific and co-chaired by Mr. Brij Mohan, Chairman, ACCESS Development Services. The illustrious panel consisted of Vijayalakshmi Das, Managing Director, Ananya Finance for Inclusive Growth Pvt. Ltd.; Meera Sanyal, Chairperson and Country Executive, The Royal Bank of Scotland N.V.; and Dr. Arvind Mayaram, Additional Secretary & Financial Advisor, Ministry of Rural Development, Government of India.

Ms. Naina Lal Kidwai, Country Head Country Head India and Director, HSBC Asia Pacific, “The Microfinance India Awards, which is in its third year, aims to recognise the larger contribution of notable thought leaders, policy makers, promoters and institutions to the microfinance sector. As the sector goes through its most challenging time, the Awards reflect the changed ground realities and recognise those who have emerged as leaders, exhibiting balanced responsible growth, promoting transparency and pro-client lending practices, and above all, creating a sustainable impact on under-served communities.

The winner for the Microfinance India Organization of the year 2011 for large organizations was Ujjivan Financial Services. Ujjivan was established in November 2005 and is one of the first MFI’s in India to be established with a unique decentralised management structure operating under a hub and spoke framework. Ujjivan provides financial services to the economically active urban poor, to help build a better life.

The second award for the Microfinance India Organization of the year for small and medium organization was presented to Sanghamithra Rural Financial Services (SRFS). SRFS promoted by MYRADA lends to SHGs ensuring that the SHG decide the amount of loan and the purpose for which it should be lend further to the members. Sanghamithra has grown at a steady pace with an average of 11-18% during last three years.

The third award, Microfinance India Contribution to the Sector 2011 was honoured to Centre for Microfinance (CMF). CMF is a non profit, non partisan research centre housed within the Institute for Financial Management and Research in Chennai. CMF undertakes qualitative and quantitative research in four broad areas: Financial inclusion, livelihoods, social objectives, and policy and regulation.
The Microfinance Individual of the Year award was given to Prof. David Gibbons, founding Chairman of CASHPOR Micro Credit, the largest poverty-focused, not-for-profit MFI in India providing financial services to over 450,000 below-the-poverty-line women in eastern Uttar Pradesh and Bihar in a financially sustainable manner.
Lastly, the Jury’s Special Award was presented to Mr. Y. C. Nanda, The Chairman of Microfinance India Advisory Group and Chairman of Agriculture Finance Corporation. Mr. Y. C. After an initial career with the State Bank of India and the Reserve Bank of India, Mr. Nanda joined NABARD when it was first formed in 1983. Mr. Y. C. Nanda is the former chairman of NABARD. He is also an alumnus of Delhi School of Economics. He has been involved with a number of microfinance institutions, rural development agencies, management institutes as Director/Trustee.
As the Microfinance sector grapples with new realities and the regulations are finalized, the Awards will honour institutions and individuals that have contributed to the growth story and worked tirelessly towards financial inclusion. The inspiration behind the Microfinance India Awards is to recognize the contribution of notable thought leaders, policy makers, promoters and institutions, which help translate the vision of reaching the poorest in a sustainable manner into reality. This is the third year for the Microfinanc India Awards.

About HSBC in India
The Hongkong and Shanghai Banking Corporation Limited in India offers a full range of banking and financial services to over 1.6 million customers through its 50 branches and 150 ATMs across 29 cities.
HSBC is one of India’s leading financial services groups, with over 34,000 employees in its banking, investment banking and capital markets, asset management, insurance broking, insurance, software development and global resourcing operations in the country. It is a leading custodian in India. More than 5% of India’s exports and imports pass through HSBC India’s banking channels. The asset management business in India is one of the leading players in the industry. The Bank is at the forefront in arranging deals for Indian companies investing overseas and foreign investments into the country. It has a fully enabled and established insurance advisory of international standards. It is one of the leading players in domestic and export factoring, and one of the leading banks for an increasing number of SMEs. With its extensive reach across Asia, the Americas and Europe, HSBC has the capacity to offer complete banking and financial solutions to India’s burgeoning economy. In 2008, it acquired a majority stake in IL&FS Investsmart (now renamed HSBC InvestDirect) that has enabled it to offer retail brokerage services to its customer across a wider geography. It has also formed a joint venture life insurance company with Canara Bank and Oriental Bank of Commerce that is among the Top ten private life insurers in the country today
HSBC’s network of branches is located at Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Gurgaon, Guwahati, Hyderabad, Indore, Jaipur, Jodhpur, Kochi, Kolkata, Ludhiana, Lucknow, Mumbai, Mysore, Nagpur, Noida, New Delhi, Nasik, Patna, Pune, Raipur, Surat, Trivandrum, Thane, Vadodara and Visakhapatnam.
The Bank is the founding and a principal member of the HSBC Group which which, with an international network covering 87 countries and territories and assets of US$2,691 billion at 30 June 2011, is one of the world’s largest banking and financial services organisations.

About Microfinance India Summit
Over the last seven years, the Microfinance India Summit, organized by ACCESS Development Services, has established itself as an international conference dedicated to Indian microfinance. As the single most important platform for dialogue and learning in the sector, the two-day event attracts approximately 1000 delegates from India and abroad. Policy makers, practitioners, promoters, academics, researchers and thought leaders share their experiences on panel discussions and analyze current trends, challenges and opportunities in the sector.
About ACCESS Development Services:
ACCESS is a not-for-profit organization whose overall aim is to incubate new institutions to enable their self-sufficiency and self-sustainability. To this end, it offers specialized technical assistance under two verticals: microfinance and livelihoods. ACCESS assists the growing microfinance sector through streamlined and structured services to emerging MFIs and supports the enabling environment through the Microfinance India platform. Under the Livelihoods Program Unit, ACCESS impacts the lives of the poor by developing sustainable solutions for scaling-up their income generation activities. To optimize its resources and maximize the results of its interventions, ACCESS believes in partnering with key stakeholders in the sector in order to develop mutually reinforcing strategies, bring convergence of competencies and build consensus on key issues.

The Reserve Bank of India has made it mandatory for non-banking financial companies and microfinance institutions to report to credit bureaus but most microfinance institutions in India have yet to adopt the practice, which is essential to the success of the Credit Information Bureau. To raise awareness about this initiative, IFC hosted a credit reporting workshop today which was attended by banks, microfinance institutions and industry experts. The workshop is supported by the Omidyar Network, HSBC, and Citigroup.

“In India, the microfinance sector has great potential in terms of the number of clients served,” said Alok Prasad, CEO of the Microfinance Institutions Network. “However, with a fast-growing sector, multiple borrowings by clients had become an issue. We have worked with IFC to ensure that more and more microfinance institutions are encouraged to report to credit bureaus and have mandated that our network members report and use credit reports from the Credit Information Bureau.”
Getting all lending institutions to participate in credit reporting is important to ensure reliable credit assessments before loans are made. More effort is also required to raise awareness among microfinance borrowers about the benefits of maintaining timely payments and building a credit record that can benefit when they apply for future loans.

“IFC’s support to credit-bureau reporting is a part of its responsible-finance strategy, which promotes more responsible lending based on full information about the creditworthiness of borrowers,” said Jennifer Isern, who leads IFC’s Access to Finance work in South Asia. “In the past year, IFC has been working with its partners in the sector towards building good practices on responsible finance and responding to client demand.”

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org.
About Microfinance Institutions Network
Microfinance Institutions Network (MFIN) is the premier industry association for the microfinance sector in India and its member organizations constitute the leading Microfinance institutions in the country. MFIN was created to promote the key objectives of microfinance, which is to help economically underserved communities achieve greater financial independence and build sustainable livelihoods. MFIN seeks to work closely with regulators and other key stakeholders to achieve larger financial inclusions goals through microfinance. Currently MFIN member organizations consist of 46 of the leading NBFC/MFIs whose combined business constitutes over 80% of the Indian microfinance sector. For more information, visit http://www.mfinindia.org

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Axis Bank, India’s third largest private Bank, was given the ‘Bank of the Year – India’ Award by the UK based magazine ‘The Banker’ at The Banker Awards-2011 Ceremony held on November 30,2011. The prestigious Awards are regarded as a industry standard for banking excellence and are judged on an institution’s ability to deliver shareholder returns. The Awards are contested by the world’s leading financial institutions.

The ‘Bank of the Year – India’ Award was received by Mr.V.Srinivasan, Executive Director, Corporate Banking, Axis Bank at the ceremony held in London. The Banker Awards-2011 function was attended by senior bankers from over 130 countries.
Speaking on the occasion Mr.V.Srinivasan, Executive Director, Corporate Banking, Axis Bank said, “Axis Bank is delighted to receive the ‘Bank of the Year – India’ Award for 2011. The award is in recognition of the efforts put in by our entire team and will motivate us to remain committed to our customers and provide seamless banking services.”

About Axis Bank: Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

With its 1446 branches (including extension counters) and 7,594 ATMs across the country, as on 30th September 2011, the network of Axis Bank spreads across 953 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has overseas offices in Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.

The Bank’s website www.axisbank.com offers comprehensive details about its products and services.

The revised interest rates are:

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The MOU was signed by Shri M. K. Sharma, General Manager, Dena Bank and Shri K. Srinivasan, Vice President, TVS Motor Company Ltd. in the presence of Mr. Ashok Dutt Executive Director, Dena Bank.

Shri A.K. Dutt said MOU will help the Bank to increase their finance to Priority sector advances besides achieving the social objective of the Bank to provide collateral free loan to Micro and Small Enterprises throughout the country.

Dena Bank will provide loan upto 90% of the cost of vehicle (on road) to eligible borrowers on merits for purchase of TVS 3 wheeler passenger auto rickshaws at a very attractive rate of interest.

TVS Motor has pan India presence and with this tie up they will be able to increase their market share especially in the states of Gujarat and Maharashtra, where Dena Bank is having very strong presence.

On the day of signing of MOU, Dena Bank has given in-principle clearance for 101 proposals for purchase of TVS ‘King’ 3 wheelers.
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Ananya Finance is an Indian non-banking finance company that provides financing to small and medium sized microfinance institutions. Penetration of microfinance in India has been low and is geographically skewed, focusing largely on India’s southern states. IFC will help the company design new products through Ananya’s partner microfinance institutions and support outreach to underserved communities in India.

“We will work intensively in the Indian states of Bihar, Madhya Pradesh, Rajasthan, Uttar Pradesh, Jharkhand, Orissa and the north-eastern states, high priority states for India’s poverty eradication efforts,” said Vijaylakshmi Das, Managing Director, of Ananya Finance. “With IFC’s support, we expect to expand significantly into rural and semi-urban areas where the need for microcredit is highest.”

IFC will also provide training to Ananya’s staff in risk management, responsible finance management systems, and related areas to help the company strengthen business planning and operations. Similar training facilities will also be extended to selected partner institutions of Ananya to strengthen strategic business planning, operational risk management, financial analysis, capital funding and equity valuation capabilities.

“IFC’s support to Ananya will help make microfinance accessible in rural, semi-urban, and underserved areas,” said Jennifer Isern, who leads IFC’s Access to Finance work in South Asia. “IFC will work with Ananya to develop flexible and responsible financial products needed by clients and their families. In the past year, IFC has been working with its partners in the sector towards building good practices on responsible finance and responding to client demands.”

Ananya Finance works in microfinance, livelihood promotion and other sustainable solutions for underserved communities in India through partner microfinance institutions, most of whose clients are women borrowers. Ananya provides a window through which donors, commercial lenders and other parties can channel funds towards the microfinance sector. Ananya also provides capacity-building services to its client institutions. For more information, visit http://www.ananyafinance.com/

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities – all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org

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Minakshi Seth
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E-mail: mseth@ifc.org

London, 28 November 2011: Ghana International Bank (GHIB) today announced the selection of iCreate’s pre-built Business Intelligence (BI) & Analytics solution – Biz$core, as a central component of their information management ecosystem.

With Biz$core, GHIB primarily expects to address the reporting and analytical requirements of their Finance department, general management information requirements and the reporting needs of the Bank. Biz$core’s capability to extract information from multiple source systems will also enable a single view of GHIB’s customers. The solution implementation would be a two-phased approach with Phase 1 addressing Financial Analytics and Customer Single View and Phase 2 covering the bank’s Retail Banking and Corporate Banking functions.

GHIB sought a BI & Analytics solution that could be quickly implemented at a low total cost of ownership. The bank decided on Biz$core as it could integrate seamlessly with their transactional systems and provide a single view of business critical insights. Further, an Enterprise BI solution would help analyze organizational data to measure and track business performance, improve operational efficiencies as well as support business strategy.

Mr Joe Mensah, Managing Director and CEO, GHIB said, “We were looking for a technology partner who had a banking-specific BI and Analytics solution that could enhance our MIS Reporting and help us gain a single view of the customer. Biz$core will help us achieve a single platform for all our BI & Analytics requirements.” He added, “I am pleased to see us apply information management best practices as part of our strategy implementation. We have in iCreate a strong partner who understands our business as well as our vision.”

Mr. Shaili Mruthyunjayappa, iCreate’s VP and BU Head for Europe, added, “It is a matter of pride for us to partner with a niche bank like GHIB for their BI & Analytics strategy. I am confident that GHIB will leverage Biz$core to gain a competitive advantage.”

About Ghana International Bank
Ghana International Bank (GHIB) which was incorporated in 1998 and licensed by the FSA took over the London operations of Ghana Commercial Bank with the latter retaining a 20% ownership of the new bank. Ownership is now shared with other Ghanaian state institutions. The Central Bank of Ghana is the major shareholder (51%) while other stakes are held by the Social Security and National Insurance Trust (15%), Agricultural Development Bank (9%) and SIC Insurance Company Limited (5%). GHIB focuses on four key areas: correspondent and corporate banking; treasury services; international trade finance; and transaction services. Its operations are geared to supporting the economies of Ghana in particular and the continent of Africa in general. www.ghanabank.co.uk

About iCreate and Biz$core
iCreate is a ‘BI for Banking’ specialist headquartered in Bangalore, India, with an established presence in Africa, Asia-Pacific, Middle East and Europe. Biz$core is iCreate’s unique, integrated BI, Analytics and Performance Management solution, that integrates with standard banking systems ensure banks have a fully functional BI solution running in as little as 100 days, at the lowest TCO and with advanced solutions in areas such as Retail, Corporate Banking, Analytics 360, etc. iCreate is a winner of several premier industry recognitions: including the Red Herring Asia 100, Deloitte Technology Fast 500 Asia and the NASSCOM Emerge 50; an endorsement of its unique ‘Banking-specific Business Intelligence’ proposition. www.icreate.in

Shri K.Ramaswamy while welcoming the customers mentioned that the Bank has started the enrolment first from Thiruvananthapuram and was very happy to provide this service to the Bank’s customers as a part of customer care. The Bank will also commence enrolment from other Branches in Kerala soon. He also mentioned that IDBI Bank is proud to be part of a National Mission in providing Unique Identification Number or Aadhaar to the residents of India. Shri Andi while explaining the benefits of Aadhaar has mentioned that Aadhaar is a means for residents to easily and effectively establish their identity, to any Agency, anywhere in the country, without having to repeatedly produce identity documentation. He also stated that the Bank perceived Aadhaar as a mighty tool to empower the common person by facilitating him/her access to a modern financial system of the country as also a step towards a sustainable and inclusive growth, which in turn was essential for building an equitable society.

Simultaneously the enrolment has commenced from IDBI Bank’s Branches located at Karamana and Ulloor in Trivandrum,Kollam,Kannur,Kozhikode and Palakkad Branches.
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This award presented to Dr. Rana Kapoor is a true recognition of his outstanding efforts, perseverance and tenacity in architecting YES BANK, a highly differentiated financial institution in the fast-growing Indian banking sector. The award recognizes the innovation that has been unleashed by YES BANK, under Dr. Kapoor’s inspiring leadership, with a strong development focus on Sunrise sectors and Sustainability through Knowledge banking and Responsible banking respectively.

On receiving this award, Dr. Rana Kapoor commented, “I am extremely pleased to receive this prestigious award. I truly believe that entrepreneurship is the process of identifying, developing, and bringing a Vision to Actuality. Entrepreneurial Vision & Strategy with Sincerity, Hardwork, Dedication and Strong Interpersonal & Execution Skills are the main ingredients to sustainable success.”

As a professional entrepreneur, since 1998, Dr. Kapoor is progressively establishing a high quality, state-of-the-art private Indian Bank with a vision of “Building the Best Quality Bank of the World in India” by 2015. Under his inspirational leadership, YES BANK has steadily evolved as the “Professionals’ Bank of India” with exemplary business and financial outcomes.

Driven by Dr. Kapoor’s utmost conviction, interests & passion and backed by a highly differentiated financial and business model, YES BANK has accelerated on its journey to achieve robust and sustained growth.

Dr. Rana Kapoor – Recent achievements

Dr. Kapoor was recently awarded a Doctorate in Science (Honoris Causa) from G.B. Pant University of Agriculture & Technology towards his enormous contribution to the Indian Food & Agriculture sector.

Dr. Kapoor is the Deputy Chairman of the Indian Banks’ Association (IBA), the apex Banking Association in India; and Co-Chair of the IBA Committee on Agri Business and Financial Inclusion. Dr. Kapoor has also been appointed as a Member of the Board of Trade, Ministry of Commerce & Industry as well as a Member of the Board of Governors, Indian Institute of Corporate Affairs (Ministry of Corporate Affairs).

About YES BANK

YES BANK, India’s new age private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder, Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients.

For further information, please contact:

Ranjit Menon

Sr. Account Manager

Adfactors PR Pvt Ltd
Shalaka, Maharshi Karve Marg, Cooperage,
Mumbai 400021.
Tel: +91 22 2281 3565
Fax: +91 22 2281 3569

Mobile: +9198200 75767

Email: ranjit.menon@adfactorspr.com

Media Contact:
Girija Balan, Pressman PR
Tel: +91 22 22188880, cell : 09821736716
Email: pr@pressmanindia.com

Commenting on the success of IDBI Gold ETF, Mr. Debasish Mallick, Managing Director and Chief Executive Officer, IDBI Asset Management Ltd, said: “The positive response received by our NFO confirms investors’ faith in IDBI Brand. In the current scenario of inflation and economic uncertainties, investment in gold could be viewed as a good hedge and prudent asset allocation strategy”.

IDBI Gold ETF is designed with the purpose to invest in ‘physical Gold’ with an objective to replicate the performance of gold in domestic prices. The Fund will adopt a passive investment strategy and seek to achieve investment objectives of scheme by minimizing the tracking error between the Fund and the underlying asset.

The NFO was open between October 19, 2011 and November 2, 2011. The units will be allotted on November 9, 2011. The scheme will be listed on NSE and BSE with effect from November 17, 2011

About IDBI Asset Management Ltd.
IDBI Asset Management Ltd. is a wholly-owned subsidiary of IDBI Bank Ltd. The sponsor for the IDBI MF is IDBI Bank Ltd and the Trustee Company is IDBI MF Trustee Company Ltd. IDBI Mutual Fund’s mission is to promote financial inclusion, by assisting the common man in making informed investment choices, through mutual funds and thus bring to him, the prosperity of the capital markets.” www.idbimutual.co.in

Disclaimer:
Risk factors: Mutual funds investments are subject to market risks, read all scheme related documents (SAI/SID/KIM) carefully before investing.

For further details, please contact:
Delna Irani / Monica Gupta
Adfactors PR
Mobile: 98206 60467/ 96196 17718
Email – delna@adfactorspr.com / monica.gupta@adfactorspr.com

Media Contact:

Girija Balan, Pressman PR

Tel: +91 22 22188880, cell : 09821736716

Email: pr@pressmanindia.com