Category Archives: News

PSU bank, Allahabad Bank is intending to open branches in China, Hong Kong and Bangladesh. The bank plans to increase its overseas business by around 3 times in the next 2 years.

Traveller’s cheques are on their way out and would shortly be replaced by prepaid forex travel cards.

RBI has appointed Shyam Srinivasan as the forthcoming MD and CEO of car loan lender Federal Bank. Presently Srinivasan is the country manager for consumer business in Standard Chartered Bank.

Gujarat has seen a sharp fall in the education loan disbursal to a big 42% in the FY 2009-10. But there is a 12% increase in the number of bank accounts implying more students are opting for loans for higher studies. So the fall can be credited to the reducing number of students opting for… Read More »

HDFC Bank intends to open new 250 more branches in the next 2 years. The bank will now focus on widening its base in semi urban and rural regions of the country. The bank will shortly be conducting 150 loan camps in the country. The present branch network of the country includes 1,725 branches and… Read More »

The 2nd biggest PSU lender in the country, Punjab National Bankmay be increasing its deposit rates by 25-50 basis points shortly. The increase in deposit rate follows the recent increase in repo and reverse repo rates by RBI during the monetary policy review.

Leading personal loan lender, Central Bank of India has reported a 26.22% increase in its net profits for Q1 of FY 2010-11. The bottom line (net profit) of the bank in this quarter is Rs 337 crore as against Rs 267 crore in previous quarter.

CRR rates expected to increase by 25-50 basis points; personal loans may become costlyThe biggest home loan lender in the country, State Bank of India has tied up with Oxigen Services Pvt. Ltd and its subsidiary Sahyog Microfinance Foundation so as to offer banking services to customers by directly connecting them to SBI’s core banking… Read More »

Car loan lender Central Bank of India has introduced with a new service called CentFast2India. The service has been introduced to promote e-transfer of remittances from USA.

Rising credit offtake in Q1 of FY 2010-11 has enhanced the aspirations of Andhra Bank. The bank has fixed a goal of 25-27% rise in its loan book in this fiscal. Fall in cost of deposits has helped the bank to calculate its net interest margin (NIM) at 3.5% in this year.