Reserve Bank of India (RBI) proposed the base rate system to replace the prime lending rate (PLR) for banks to bring about more transparency in the lending operations of the bank across the country. The base lending rate shows the actual cost to banks that has to be covered through lending. RBI’s definition of base… Read More »
A consumer forum held Bank of India, guilty of improper service after it issued two duplicate passbooks to the estranged wife of a client without the client’s knowledge and charged him for it. The South Mumbai District Consumer Disputes Redressal Forum ordered the bank to pay Mr. Amar Shukla Rs 13,000 for mental agony and… Read More »
A recent press report said that Vijaya Bank has planned to centralise its loan processing activities under the retail and MSME segments, so as to reduce the turnaround time in sanctioning loans. Mr. H.S. Upendra Kamath, Chairman and Managing Director of Vijaya Bank said that the bank is planning to strengthen the credit delivery mechanism… Read More »
A recent press report said that the Reserve bank of India has asked the banks to implement 1% interest subsidy on home loans up to Rs.15 lakh as per the budget announcement. The 1% charge will be implemented on home loan up to Rs. 15 lakh where the cost of the house does not go… Read More »
According to a recent press report Oriental Bank of Commerce (OBC) has planned to achieve a growth rate of 30 per cent in value terms during the current fiscal its small and medium enterprises (SME) portfolio. The growth in advances to the small and medium enterprises segment in the year 2009-10 was to the tune… Read More »
According to a recent press report Indian Bank has announced seven per cent increase in net profit to Rs 439 crore in the fourth quarter of 2010-11.The bank had recorded Rs 410 crore profit for the same period last year. The board of directors has recommended a dividend of 75 per cent which is Rs… Read More »
Dhanlaxmi Bank has planned to raise Rs 500 crore equity capitals before May-end in order to boost up its capital adequacy ratio. The capital adequacy ratio of the bank had fallen from 12.99 per cent to 11.8 per cent as on March 31, 2011. The bank has decided to raise Rs 1,000 crore in the… Read More »
Recent reports said that 26.4 per cent of the country’s internet users have visited an online property of a bank in March. According to audience measurement platform ViziSense, out of the seven crore internet users in the country, 1.85 crore have visited an online property of a bank in March. Reports said that the growth… Read More »
According to a recent press report, the account holders of Union Bank of India can pay their income tax through the bank’s ATM. The Bank has a net work of 2, 600 ATM’s. The customers of Union Bank of India who are willing to pay their taxes through the bank’s ATM have to register their… Read More »
Recent press reports said that the Muthoot group, which is well known for its gold loan segment has planned to set up a new company, Muthoot Housing Finance which will provide home loan and complete subsidy of Muthoot Fin. Corp. The company has planned to issue loans ranging from three lakhs to 10 lakhs with… Read More »