Within a month of assuming office as Managing Director and Chief Executive Office of Catholic Syrian Bank, Mr V. P. Eswardas, has signalled the bank’s aggressiveness on the business front with the completion of his first round of visit to all regions.
According to a statement issued at the Bombay Stock Exchange, Union Bank of India has raised its authorised capital to Rs 3,000 crore from the existing Rs 1,500 crore. A resolution to this effect was passed in the meeting of the Board of Directors of the bank held on December 12.
Karnataka Vikas Grameena Bank, a regional rural bank sponsored by Syndicate Bank, has surpassed a total business of Rs 6,600 crore as of December 17 this financial year. In the first six months of the current fiscal, the lender has earned a net profit of Rs 35.66 crore.
South Indian Bank has increased its business target for the current fiscal by Rs 1,500 crore. The decision to increase the target was made at the two-day conference of the top management team and 14 regional heads of the bank at Thrissur.
Axis Bank has entered Srinagar with the opening of its new branch at Exhibition crossing in the heart of the city. With the opening of the branch, the number of branches of Axis Bank in the state has increased to three. The bank also has a network of 16 ATMs throughout the state.
Banks are in the process of requesting the government for permission to issue tax-free bonds to fund their infrastructure projects. Bankers are of the opinion that the bonds will help them raise long-term resources and reduce dependence on retail fixed deposits, whose maturity is getting shorter.
The RBI on Monday gave the go ahead for FIIs and NRIs to purchase up to 49 per cent and 24 per cent respectively of Kerala-based Dhanalakshmi Bank’s paid-up capital through primary and secondary markets and stock exchanges. The RBI stated in a press release that aggregate foreign investment (by FIIs and NRIs) in Dhanalakshmi… Read More »
The Tamilnad Mercantile Bank (TMB) has opened its 216th branch, at Chembur, Mumbai. The branch is computerised and offers safe deposit locker facility along with ATM service. This takes the banks total ATM count to 138.
United Bank of India has opened its 1,474th branch at Mithipur in Murshidabad district. The branch was opened as part of its plans to make available banking services to people in West Bengal and was inaugurated by the Union Finance Minister, Mr Pranab Mukherjee.
Housing finance major HDFC Ltd is looking to enter the rural segment with its tie-up with SKS Microfinance. SKS Microfinance will provide loans for extension and improvement of dwelling units that double up for income-generating activities such as eateries, papad and agarbathi-making etc and HDFC will provide technical support and the first tranche of funding of Rs… Read More »