Very soon, investors will have more outlets for investing in the new pension system (NPS). These include post offices as well. Being dissatisfied with the current distributors, the pension fund regulator has tied up with 8 more service providers to increase the reach of the schemes. The scheme was first made open to public in… Read More »
The Orissa government has planned to generate exclusive land banks for industrialization. This is being done in order to encounter the issues of getting land for many projects undertaken by the state.
The government owned bank, Union Bank of India intends to raise $300-500 million by the way of a bond issue dated to appear next month. This is done to promote its business expansion plans, said a leading official of the bank on Wednesday.
Yes Bank, a private sector bank announced on Thursday that it has managed to raise $225 million (approx. Rs 1,034 crore) via selling its shares privately to institutional investors. A statement released by the bank said, “The issue of $225 million, was significantly oversubscribed on strong demand from foreign institutional investors and domestic mutual funds”.
India’s biggest private sector bank ICICI Bank has ruled out the foreign buys. However it said it is looking to purchase local banks in order to maximize its presence and business in the country.
RBI announced the hike in CRR by 75 basis points in order to combat rising inflation. This will make banks exercise restrain while lending. However they are not expected to increase the rates straightaway due to extra liquidity in the system. The industry does not predict the interest rates to increase in the immediate future… Read More »
The All-India State Bank Officers Federation (AISBOF) has rejected the proposed wage hike and pension benefits and demanded a separate wage revision.
State Bank of India is in advanced stages of opening 23 more branches abroad over the next four months, according to a top SBI official.
Speaking at a press meet in Madurai, Canara Bank, Chairman and Managing Director, Mr A.C. Mahajan said that the lender is aiming to achieve a business of Rs.4 lakh crore during the current fiscal. Mr. Mahajan said that the aggregate business has reached Rs 3.5 lakh crore end-September. This represents a year-on-year growth of 20.6… Read More »
State Bank Of India has launched a unique scheme, ‘Power Jyothi’, for the students of Madurai Kamaraj University.