Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: VAT Audit :: form 3cd :: empanelment :: TDS :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: cpt :: ACCOUNTING STANDARDS :: articles on VAT and GST in India
News Headlines »
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest

`Budget aims to transform rural economy'
March, 12th 2007
`Our agricultural loan target in the coming fiscal is Rs 2,25,000 cr'

LOAN DISTRIBUTION: The Union Finance Minister, Mr P. Chidambaram, and the CMD of Indian Overseas Bank, Mr T.S. Narayanasami, at a function organised by the bank in Coimbatore on Sunday.

Coimbatore March 11 The Union Finance Minister, Mr P. Chidambaram, on Sunday termed the Union Budget 2007-08 `a green budget' aimed at transforming the rural/agricultural economy.

Speaking at a function organised to mark the opening of the 1,627th branch of the Indian Overseas Bank at Vadavalli in Coimbatore, Mr Chidambaram said, "If 1997 budget was `dream budget', the 2007 one is a `green budget', as it aims to uplift the country's agricultural economy and achieve the four per cent growth in that sector."

Banks, he pointed out, play a vital role in extension of credit. "Our agricultural loan target in the coming fiscal is Rs 2,25,000 cr," he said and expressed confidence about the banks surpassing this target.

Loans amounting to Rs 15.85 cr were distributed to 320 beneficiaries on the occasion.

The IOB Chairman, Mr T.S. Narayanaswami, said the bank achieved a total business volume of Rs 1,05,000 crore till date. "We will be celebrating the 78th year of the bank by retrieving our branch in Thailand. It will come back into IOB fold. The 100-odd branches of Bharat Overseas Bank will also come under our umbrella before the close of this fiscal," he said.

He later told press persons that the bank was planning to strengthen its presence abroad.

"We already have a strong presence in Hong Kong, Bangkok and Singapore. We are the only public sector bank to have established our presence in Seoul. We have a representative office in China and Malaysia. We have an approval from the regulator for setting up our presence in Vietnam. We initially will have a representative office here and open a branch in say two years. Our request for opening a branch in New Zealand is pending with the RBI."

While stating that all the overseas branch of the bank were doing well, Mr Narayanaswamy said about 10 per cent of its total revenue was from the branches abroad.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions