According to a recent press release the Reserve Bank of India has said that the Non residents of India (NRIs) or the persons of Indian origin are now allowed to hold their accounts in the country in any convertible currency. Earlier, Foreign Currency Non Resident (FCNR) bank Account holders were allowed to hold their accounts… Read More »
A recent report from the Reserve Bank of India said that the credit pick – up are coming up in the busy season for the banks. As per the data released by the RBI, scheduled commercial banks have disbursed loans to a total amount of Rs. 55, 443 crore. According to bankers, due to high… Read More »
As per a recent press report the Kerala based Federal Bank has said that lending to the agricultural sector would gain more profit while the other banks have an impression that lending to the agricultural sector is risky. According to Mr. T.S. Jagadeesan, Chief General Manager of Federal bank, lending to agriculture is profitable. The… Read More »
A recent press report said that Karur Vysya Bank (KVB), the oldest private sector bank is undergoing business re – engineering process as a preparation for the age ahead. According to Mr. M.Venkataraman, Managing Director and Chief Executive Officer of the Bank the bank wants the public to see the difference with the bank in… Read More »
A recent press report said that Oriental Bank of Commerce has opened a cheque truncation centre in Chennai which is the first ever bank to open up cheque truncation in Chennai. Cheque truncation is a system where the cheque that has to be encashed is scanned and the scanned image of the cheque is sent… Read More »
A recent press report said that the National Bank for Agriculture and Rural Development (NABARD) has planned to implement a new scheme of improving share capital and ensuring safety of deposit, which has been obtained from two European countries viz. Germany and Hungary. The idea behind the scheme is to encourage the country’s primary agriculture… Read More »
According to a recent press release Bank of Baroda, a public sector bank has offered special home loans and car loans as festival offer. The home loans according to this offer would be given within six days of application and similarly, car loans would be offered within two days period. The home loans provided under… Read More »
A recent press report said that there are around 6000 villages with a population of more than 2000 in Andhra Pradesh, without bank. The state government has anticipated that the banks would complete their appointment of business correspondents to these villages by the end of this year. The Reserve Bank of India has made it… Read More »
A recent press report said that the Government has asked the public sector banks who are currently extening their business into insurance, which is capital intensive business, are asked to concentrate on their core business. The Government has asked the banks to postpone their plans until the end of this financial year because it has… Read More »
A recent press report said that the RBI has announced that the Supervision of all Microfinance institutions will be under its control and that there is no plan of outsourcing the Regulatory framework regarding the MFIs Function. Dr. K.C. Chakrabarty, Deputy Governor, in a seminar said that the RBI’s main Goal is to make the… Read More »