A recent press report said that RBI has constituted a 9-member panel to look into various issues related to priority sector lending, including review of loan limits under the segment. Reports said that the committee will be headed by Mr. M V Nair, Chairman and Managing Director, Union Bank of India and that the panel… Read More »
A recent press report said that Punjab National Bank (PNB) has opened a representative office Sydney. Mr. K. R. Kamath, chairman and managing director of the bank said that the bank is likely to get regulatory approval from authorities in both countries to upgrade this representative office into a full-fledged branch within a year. Reports… Read More »
A recent press report said that Oriental Bank of Commerce has entered into a memorandum of Understanding with Oriental Insurance Co Ltd for selling Mediclaim policies to the bank’s customers through its pan-India network. The memorandum of understanding was signed by Mr. R.M. Sharma, General Manager, Oriental Bank of Commerce (OBC), and Mr. A.K.Saxena, General… Read More »
A recent press report said that Oriental Bank of Commerce on has launched its first e-lobby, providing another outlet for 24×7 banking services to its customers. Reports said that the e-lobby, which would be unmanned and located at Nehru Place, was inaugurated by Mr. Nagesh Pydah, Chairman and Managing Director, OBC, in the presence of… Read More »
A recent press report said that banks are now operating roadside kiosks where account opening formalities are done in a moment, as part of adopting innovative marketing methods to mobilize Savings Accounts and Current Accounts (CASA). The methods include setting up kiosks at busy junctions, encouraging employees to mobilize accounts from friends and relatives and,… Read More »
A recent press report said that the loan requirements of large corporates are growing faster than the ability of large banks to raise capital. Corporates including Reliance Industries, HDFC, Bhel and Indian Oil, are hitting the credit limits of various banks. Reports said that banks lending to individual entities are limited by single borrower exposure… Read More »
A recent press report said that the Institute of Banking Personnel Selection has decided to conduct a supplementary examination on November 13. The announcement of supplementary exam is good news for about two lakh job aspirants who missed the first Common Written Examination for recruitment of probationary officers and management trainees in 19 public sector… Read More »
A recent press report said that Andhra Bank has launched prepaid gift and international travel cards. Reports said that the prepaid gifts card is available in denominations between Rs. 250 and Rs 50,000 and can be bought at no additional charge. The customer requires gifts cards valued beyond Rs 20,000 select Know Your Customer (KYC)… Read More »
A recent press report said that Kozhikode District Co-operative Bank has recorded more than 50 per cent growth in net profit during 2010-11. The bank’s net profit stood at Rs 6.32 crore as against Rs 4 crore in the previous year. The bank officials said that the growth in profit was the highest in the… Read More »
A recent press report said that Indian Overseas Bank (IOB) has sought capital support of Rs 4,016 crore from the Central Government in order to fund its business growth for the three-year period beginning 2011-12. Mr. M. Narendra, Chairman and Managing Director, IOB, said that the request has been made in the three-year business plan… Read More »