:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

INDIAN BANKS TO PROVIDE OVER RS 35,00 CRORE TO TELECOM COMPANIES FOR 3G

According to news item published in the Economic Times, banks will provide funds of over Rs.35000 crore to telecom companies for paying the Govt. for 3G Mobile spectrum. Of this, SBI alone is likely to lend close to Rs.20000 crore followed by IDBI Bank (8000 cr.), Bank of Baroda (3000 cr.) and Bank of India (2000 cr.).

Telecom companies, which won licences for bandwidth for 3G mobile services, have to pay up close to Rs 68,000 crore to the Govt.

Several telcos, such as Tata Teleservices, Idea, Reliance Communication and Aircel, entered the debt market on Thursday and Friday to raise money through the commercial paper route. Tata Tele raised Rs 1,500 crore for one year at 7%, while Idea raised Rs 1,000 crore for one year at 6.75% and RCom raised Rs 4,000 crore for three months at 3%.

Posted by C.B.O.A., A.P.

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