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IBM wins 10-year IT services contract from co-operative bank
IBM today announced that it has signed a 10-year Information Technology (IT) services agreement with Gujarat-based Sardar Bhiladwala Pardi People’s Co-operative Bank (SBPPCB). The engagement will be in the form of a pay-as-you-go model, which will enable the bank to save up to 50 per cent in its capital expenditure on IT Infrastructure, IBM said in a statement.

Consolidation of banks good in a way: Canara Bank CMD
Consolidation of banks is good in a way as it envisages healthier banks in the global scenario and banking market, believes Canara Bank Chairman and Managing Director (CMD) A C Mahajan.

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Govt rules out additional borrowings for 2009-10

The government today ruled out any increase in its borrowing programme for the current fiscal and said expenditure needs due to failed monsoon would be met with additional tax and adjustments within the budget. "As of now, there is no intention to borrow more than what we have already indicated, that itself is a fairly robust and substantial borrowing programme," Finance Secretary Ashok Chawla told private news channel ET Now.


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