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City Union Bk selects Bankstar Tech's METEOR 2/19/2004 12:26:52 PM IST Print this news

Bankstar Technologies Ltd, the Hong Kong based Software Solutions Company, with a development center and Indian Subsidiary in Mumbai, today announced the signing of City Union Bank Ltd as its first customer for its RTGS Liquidity Management System (LMS) for Commercial Banks - METEOR.

METEOR is an acronym for Member Bank Transaction Exchange Over RTGS, which enables the bank to comply with RBI's guidelines on LMS including Liquidity Pooling, Collateral Management and Payment Scheduling. METEOR is one of a range of products from Bankstar Technologies created using Borland Delphi.

 Anil Lalwani, managing director of Bankstar Technologies Ltd says," City Union Bank Ltd was our first Indian customer when they installed our File distribution System (FIDS) in 2003 and we are happy that they have reinforced their faith in us by signing for METEOR." He further stated that METEOR uses Borland's highly sophisticated and well-tested products, which enables fast development of extremely stable solutions. This has enabled Bankstar to have a customer base of 50 customers including 6 of the world's top 100 banks and a leading BFSI conglomerate in Japan.

 Sridharan, General Manager, CSD of City Union Bank Ltd expressed happiness and satisfaction on the work done by Bankstar for the bank. He said that this was the centenary year for the bank and they would strive to provide the most advanced services to their customers with the help of partners like Bankstar Technologies Ltd.

Satyen Parikh, Managing Director of Borland India Pvt. Ltd., said "We are deeply appreciative of Bankstar's investment in Borland Delphi for their core product set development as well as their continued support in providing a wide range of flexible and scalable solution sets to the Banking vertical. We are confident that the relationship will grow and show even greater promise."

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News Archive                 Other Sector News.
   Auto Line News   
* Biocon unveils IPO in price band of Rs270-315
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* FIIs net buyers in equities at Rs3.26bn
FIIs net buyers in equities at Rs3.26bn
   Cyber Valley News   
* Daksh eServices implements ERP system with
This is a strategic step forward for Daksh to adopt best practices to support its aggressive growth plans
* Itona TC...VXL announces thin client computer
Itona TC offers customers enhanced value and represents a breakthrough in thin client technology
   FMCG News   
* Gillette India FY03 PBT up 328% yoy
The company recorded a profit before tax of Rs747mn, a 328% growth over the figure of Rs174.5mn
* Schreiber Foods acquires 51% stake in Dynamix
Schreiber Foods is one of the global giants in dairy products and at Rs1.7bn
   Infrastructure News   
* Restructuring key to US$50bn textile trade by 2010
The current size is merely US$11bn, which accounts for only 3% of world textile trade
* January infrastructure growth at 5.9%
The country's infrastructure sector grew 5.9% in January 2004
   Oil and Gas News   
* GAIL invites bids for Dahej-Uran Pipeline Project
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* GAIL India offer for sale opens on Feb 27
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   Steel Infoline News   
* BHEL bags order from Jindal Stainless
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The shareholders also approved the sub division of the company's equity shares of Rs10 each into shares of Rs2 each.

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