Category Archives: Glossary

SBI has tied-up with ECGC to de-risk export credit portfolio

According to a recent press report State Bank of India (SBI) has said that it has de-risked its Rs. 30,000 crore export credit portfolio by entering into a tie-up with Export Credit Guarantee Corporation (ECGC) in order to meet the Basel-III norms. Mr. Pratip Chaudhuri, Chairman , SBI told the press that the bank has… Read More »

NMGB has achieved Rs.5000 crore Business

A recent press report said that North Malabar Gramin Bank’s total business has exceeded Rs. 5000 crore. Mr. V.K Saigal, chairman of NMGB said that the bank’s deposits have increased by 13 percent to Rs.2326 crore. Currently the net profit of the bank is Rs.12 crore but the target amount was actually Rs.18 crore for… Read More »

Finance Ministry has said that there was no need to fast-track recapitalization of SBI

A recent press report said that Downplaying Moody’s decision to downgrade rating of State Bank of India is not going to fast-track recapitalization of the PSU bank. Reports said that State Bank of India (SBI) had submitted the proposal a couple of months back to raise Rs 20,000 crore through the rights issue. The bank… Read More »

Nabard’s funding for rural infra has crossed Rs. 1 lakh crore

According to a recent press report the loans offered to state governments by the National Bank for Agriculture and Rural Development (NABARD) has crossed the Rs 1,00,000-crore mark and currently stands at Rs 1,02,844 crore as on September 30, 2011. The lending includes loans offered to 28 states and the Union Territory of Pondicherry in… Read More »

Diner’s Card Reintroduced By HDFC Bank

According to a recent press report, the oldest Diners Club card has finally comeback to the market. The Diners club Premier card sold by Citi in 2008, is going to be reintroduced by the HDFC Bank. The Bank has received the Franchising from the Citi bank, and it has a plan of acquiring the Citi’s… Read More »

RBI has taken measures to control inflation

A recent press report said that RBI is taking measures to control inflation but it is important to concentrate more on the supply side. It also said that it’s time to innovate new ideas to overcome the inflation because the agriculture investment has been reduced from 4.37 per cent to 1.83 per cent and also… Read More »

SBT has asked for the withdrawal of the Amendment Bill

A recent press report said that State Bank of Travancore’s Staff Union has asked the Union government to withdraw the Banking Amendment Bill-2011 presented in the Lok Sabha as they feel it would undo the gains the banking sector had made through the nationalization of banks in 1969. Reports said that the resolution passed at… Read More »

SBI has hiked its lending and deposit rates

According to a recent press report SBI has increased the lending rates by 25 basis points and deposit rate by 100 basis points. It has a positive impact on savings because the returns are high, but the home loan and auto loans interest rates have gone higher. The bank’s current deposit interest rate is 9.50… Read More »

Allahabad Bank, Aditya Birla money are in online services pact

According to the recent press report, Allahabad bank has entered into a strategic alliance with Aditya Birla money to provide financial services to its customer which facilitates the bank customers to invest in the online financial products. Aditya Birla money is the broking, wealth management and retail distribution arm of Aditya Birla Financial Services group.… Read More »

ING Vysya Bank’s profit has gone up to 53%

A recent press report said that ING Vysya has recorded that the net profit of this fiscal year has been raised up to 53 per cent of Rs.115.4 crore through higher net interest income and sound asset quality. Mr. Jayant Mehrotra, CFO, ING Vysya bank said that although the margins were under pressure, the profit… Read More »