2. Banks' margins may slip, focus on i-banking by 2020 Margins are likely to slip as wholesale debt markets deepen and corporate customers access the wholesale markets directly. Infrastructure is likely to occupy a larger share of balance sheets with banks estimated to have accumulated infrastructure assets worth 20-25 trillion rupees on their books by 2020. State-run banks see a higher likelihood of their margins being squeezed as compared to private sector or foreign banks,
3. Banks may get to fix interest rate on savings a/c The Reserve Bank of India has moved a step forward in its proposal to deregulate this interest rate. Deregulation would mean that banks would have the freedom to set the interest rate on savings accounts based on their need for funds. At present, the rate of interest on savings deposits is mandated by RBI at 3.5%. Totally freeing rates could, in situations where there is a virtual monopoly of banking, lead to lowering rates in some areas while leading to increase in other areas.
4. Amway planning second facility in India Amway India, a direct selling Fast Moving Consumer Goods (FMCG) company, planned to set up their second manufacturing facility in the country in South India, a senior company official said. For setting up the present manufacturing facility, the company has inked an agreement with Baddi-based vendor Sarvotham Care Ltd. About 85 per cent of the company's products are manufactured by Sarvotham Care Ltd, Singh said. Amway India currently offers over 115 products in five categories including nutrion and wellness (29), personal care (14), home care (14), cosmetics (52) and great value products (6)
5. Scouting for more global acquisitions: Marico FMCG player Marico Industries is looking at buying out more companies and brands in the Asian and African regions as part of its expansion plan. FMCG player Marico Industries today said it is looking at buying out more companies and brands in the Asian and African regions as part of its expansion plan. In January, the company bought Malaysian personal care brand Code 10 from FMCG giant Colgate-Palmolive for an undisclosed sum. It had also bought South African over-the-counter health care brand 'Ingwe' last month.
6. BSNL ready for mobile number portability State-owned Bharat Sanchar Nigam Limited (BSNL) is ready with the infrastructure to start mobile number portability (MNP) by the scheduled Oct 31 deadline. MNP will allow users to retain their mobile telephone numbers even if they switch their operators. The latest hurdle could be US-based Telcordia Technologies which, reports said, could move court to protect its MNP business ambition through joint venture MNP Interconnection. Besides MNP Interconnection, the other licencee is Syniverse Technologies India, which has got approvals to implement MNP in India.
7. BSNL to lay optic cables connecting Agartala with B'desh town Bharat Sanchar Nigam Ltd (BSNL), will lay Optical Fibre Cable (OFC) through Bangladesh to connect the state capital with Akhaura, the nearest town in the neighbouring country, BSNL sources said. BSNL Tripura General Manager DebkumarChakraborty told reporters that the distance between Agartala and Akhaura was 12 km and the BSNL would lay optical fibre to connect the two towns. Survey work was in progress for connecting Sabroom sub-divisional town in South Tripura with Chittagong town in Bangladesh through OFC which would cover a distance of 75 km.
