The government owned bank, United Bank of India, is likely to file a red herring prospectus with the Securities and Exchange Board of India for their initial public offer (IPO) next week. This was stated Chairman by the Chairman of the bank, Mr. Satish C Gupta. Mr. Gupta said, “We hope to come out with the IPO… Read More »
According to a statement released to the press by United Bank of India, the bank has obtained licenses for opening 11 new branches in unbanked gram panchayats in the state of West Bengal. This is being done in the backdrop of the recommendations of the T M Bhasin Committee, appointed on behalf of West Bengal State… Read More »
A key Parliamentary Standing committee has recommended that financial charges levied by credit card companies should not be left entirely at the discretion of the banks. The high interest rate charged by credit card providers has finally caught the eye of the law makers and this recommendation is sure to create pressure on the RBI to regulate… Read More »
In its mid – year review for 2009-10, which was tabled in Parliament by Finance Minister Pranab Mukherjee, the Govt. said the Reserve Bank needs to withdraw the easy money policy gradually so as to ensure sustained economic recovery and contain inflationary expectations.
As part of its global expansion plans, the State-run Oriental Bank of Commerce plans to open more offices in Hong Kong and Africa.
”=[[p’ New generation private sector bank, IndusInd Bank, inaugurated Mumbai’s first solar-powered automated teller machine. This move comes as a part of its Green Office Project campaign “Hum aur Hariyali”. As another part of the campaign, the bank also unveiled a “Green Office Manual – A Guide to Sustainable Practices,”. The manual has been prepared… Read More »
A senior bank official of private sector lender Dhanalakshmi Bank said the bank is aiming for a total business of Rs 12,000-crore by FY10. The bank is also planning to hire 300 more personnel to take its total headcount to 4,000 by the same period.
Leading public sector lender HDFC plans to disburse Rs 3,000 crore over the coming two-months under its special housing loan plan, launched early this month and offering an interest rate of 8.25 per cent.
In the wake of possible Cash Reserve Ratio hike, banks are considering increasing the sub-prime lending rate, while keeping the benchmark prime lending rate (BPLR) untouched.
The Export-Import Bank of India has extended a $100-million Line of Credit to Vneshecomobank, the Russian State-owned Bank for Development and Foreign Economic Affairs. The agreement was signed by Chairperson and Managing Director, Exim Bank of India, Ms. Ravneet Kaur and the Chairman of Vnesheconombank, Mr Vladimir Dmitriev.