A recent press report said that Tamilnad Mercantile Bank (TMB) has announced a “Festival Bonanza” for home and car loans with reduced rate of interest. Mr. S. Selvan Rajadurai, General Manager, Business Development, TMB (HO), said that the bank has come up with a “Festival Bonanza” for home and car loans, offering competitive rate of… Read More »
A recent press report said that Andhra Pragathi Grameena Bank has planned to clock business of Rs. 10,300 crore during this fiscal, with deposits of Rs 5,000 crore. Mr. K. Preetam Lal, Chairman of the bank said that the bank hopes to close this year with a net profit of Rs 150 crore. According to… Read More »
A recent press report said Mr. Deepak Parekh, Chairman, HDFC has disagreed with the present regulatory thinking on allowing complete waiver of prepayment charges. He said that serious problems may arise if there is complete waiver of all prepayment charges. Reports said that the Reserve Bank of India (RBI) had recently floated a proposal that… Read More »
A recent press report said that State Bank of Mysore has introduced a customer friendly initiative according to which aggrieved customers now need to just send an “unhappy” SMS to an exclusive number. Within seconds, an auto-generated message will acknowledge the message receipt with a complaint number, the sender’s mobile number, date and time of… Read More »
A recent press report said State Bank of Mysore has launched online loan application and tracking for home loans, education loan, vehicle loan and micro, small and medium enterprise (MSME) loans. The customers just need to fill in the details such as name, residential address, contact details, email ID, income details and choice of branch… Read More »
A recent press report said that the country’s largest lender State Bank of India (SBI) has said that it was not in favour of hiking lending rates despite the Reserve Bank’s 12th consecutive rate increase. Mr. Pratip Chaudhuri, Chairman, SBI told the press that the margins are quite strong and the net interest income for… Read More »
A recent press report said that ICICI Bank has lowered the pace of deposit growth from foreign markets. It has decided to focus on growth of deposits from local grounds. Ms. Chanda Kochhar CEO and MD of the bank said that the bank is hardly growing retail deposits in these markets. She said that the… Read More »
A recent press report said that the rising interest rates have had little impact on home loans as borrowings have gone up 21% since March 2010 even as rates have gone up by around 300 basis points in the same period. Reports said that some of the borrowers have taken loans in from tier-I and… Read More »
A recent press report said that the Indian banks have sought approval from the RBI to open branches in Dhaka, the capital of Bangladesh, as they sense an opportunity to cater to the business community involved in the trade of non-Basmati rice. Reports said that Kolkata-based Allahabad Bank has sought the Reserve Bank of India’s… Read More »
A recent press report said that the Reserve Bank of India, the central banking institution has planning to do a revised study on the potential growth rate. Dr D. Subbarao central bank Governor, told the press that the study has been planned due to the slowing economic growth. Reports said that the issue has been… Read More »