A recent press report said that banks are planning to improve their car loan book this festive season. SBI and HDFC have reduced their margin requirements for Tata’s Nano to Rs. 15000. If the borrower opts to take loan from Punjab National Bank then no margin money has to be paid for the Nano. Reports… Read More »
According to latest data released by the Reserve Bank of India, banks advances in the sectors like non-banking financial companies (NBFCs), industry, personal loans and services have remained healthy in the month of August. Reports said that the credit off-take in the services sector, led by a 55 per cent growth in advances in the… Read More »
According to a recent press report, the agreement between Franco-Belgian Bank and Dexia Bank has been broken up and has become partly nationalised. This is because the funding squeeze has crashed the bank as a sign of warning about the European struggling lenders. The rescue of Dexia thereby is likely to pose a global credit… Read More »
A recent report released in Basel by the Financial Stability Board (FSB) and Basel Committee on Banking Supervision (BCBS) along with the agreement of the International Monetary Fund (IMF) of the Macroeconomic Assessment Group (MAG) has said that the shift to stronger standards for global systemically important banks (G-SIBs) in advanced and emerging economies after… Read More »
A recent press report said that more than 8 cooperative banks have failed in this fiscal resulting in credit insurance company DICGC paying a little over Rs. 143 crore to depositors. Reports said that the eight cooperative banks include four are from Maharashtra, three from Karnataka and one from Gujarat. In the previous financial year,… Read More »
A recent press report said that the Finance Ministry has favored in setting up of white-level ATMs in the country in order to increases the diffusion of banking services. White-level ATMs are not owned by banks but by private ATM service providers. Such ATMs will help take banking services to remote places. Besides, it will… Read More »
According to a recent press report, Reserve Bank of India’s chief has said that rupee has been depreciating continuously for last few months which have affected the import cost. He suggested that as a result of this problem, the growth of central bank has been declined and the foreign exchange rate is influenced by market… Read More »
According to a recent press release, the Reserve Bank of India has confirmed that the credit offered to farmers through the Kisan credit card would be treated as direct finance for agriculture under priority sector lending. Reserve Bank of India has announced that lending money through Kisan Credit card is only allowed for agriculture… Read More »
According to a recent press report banking regulation is not supposed to set up an Automated Teller Machine (ATM) in the post office. India Post had planned to set up automated teller machines (ATMs) in its post offices but it has failed to get the acceptance from a banking regulator. India Post is in talks… Read More »
A recent press report said that credit card transactions in the month of August were 29.1% which is greater than the transactions in the same month last year of about Rs.8078.98 crores. The estimated Credit card transaction were aggregated to Rs. 6,259.42 crore in August 2010. The credit cards circulation has come down by 6.7%,… Read More »