Category Archives: News

SBI Card, the Joint venture from the State Bank of India and GE Capital, has launched mShop, a scheme to enable its customers shop from over 100 merchants across the country, using their mobile phones.

IndusInd Bank is aiming to achieve a 25 per cent growth in its business volumes in Kerala during the current financial year.

Federal Bank Ltd has recorded a 30.16 per cent increase in net profit for the first half of this year at Rs 237.45 crore over Rs 182.43 crore recorded for the same period, the previous fiscal.

Corporation Bank’s net profit rose 52 per cent to Rs 292 crore in the second quarter of 2009-10, compared to Rs 192 crore in the corresponding quarter last year.

The Oriental Bank of Commerce is planning to expand its global footprint by opening offices in the UK and Hong Kong. Earlier this year, the bank had opened a branch in Dubai on March 30. With this, the bank got overseas presence first time after being established in Lahore in 1943.

Muthoot Finance has reduced gold loan interest rate to 12 per cent from November 2. According to press release provided at Kochi, loans up to Rs 1 crore are available under this scheme at all Muthoot Finance branches numbering more than 1,300 in 21 States.

Global deal tracking firm Dealogic said on Tuesday in New Delhi that Indian companies have raised a record high of $38.5 billion to fund their upcoming and current projects so far this year, making the country the leader in the Asia Pacific region in the syndicated loan space.

Finance Minister, Mr Pranab Mukherjee, urged banks to enhance credit flow to employment-generating sectors at a meeting with the CEOs of north-based public sector banks in Delhi.

Bank of Maharashtra’s net profit rose to Rs 87 crore in Q2 of this fiscal, as compared to Rs 71 crore in the corresponding quarter last year. This is a 23% increase and was mainly aided by a growth in the banks other income. Other income grew 140 per cent to Rs 149.47 crore but… Read More »