A recent press report said that Indian Overseas Bank has decided to increase the repayment period for borrowers in the retail sector. The bank’s decision has been announced following directions from the Union Ministry of Finance to help borrowers in retail and MSME (micro, small and medium enterprises) segments to tide over the problem of… Read More »
A recent press report said that HDFC Mutual Fund, one of the leading Mutual Fund House in India, and Shamrao Vithal Bank (“SVB”), one of the largest co-operative banks in India, have announced that they have entered into an alliance to offer the entire bouquet of HDFC Mutual Fund’s schemes through the bank’s 105 branches… Read More »
A recent press report said that Corporation Bank has launched its second zonal office in Bangalore. The bank has recently created 12 new zones across the country, taking the total number to 31. Reports said that the Bangalore North Zone will now control 52 branches, including 13 urban centers, 74 ATMs and 204 branchless banking… Read More »
A recent press report said that Corporation Bank has planned to grow its total business to Rs. 5 lakh crore by 2014-15, against Rs 2 lakh crore, according to Chairman and Managing Director Mr. Ramnath Pradeep. Reports said that the bank has planned to open 200 branches every year, with each branch growing its business… Read More »
A recent press report said that Country’s largest private lender ICICI Bank has planned recruit up to 6,000 people this fiscal to help its business growth and expansion. Ms. Chanda Kochhar, Managing Director and chief Executive of the bank said that the bank’s business was growing between 18 to 20 per cent and the bank… Read More »
A recent press report said that the Public sector lender, Allahabad Bank has planned to increase its overseas presence. The bank has planned to set up branches in four Asian cities, according to a senior official of the bank. Mr. J.P. Dua, Chairman and Managing Director of the bank said that the bank has approached… Read More »
According to a recent press report Mr. B.R. Bhat, General Manager, Corporation Bank said that the increasing income levels and shifting consumption pattern in rural areas are expected to provide an excess of opportunities to lenders and industries. Mr. B.R. Bhat in his speech at national conference on ‘Banking towards strengthening rural India: New paradigms… Read More »
A recent press report said that Mortgage Company LIC Housing Finance has joined the teaser home loan group by introducing ‘New Advantage 5’, under which the interest rate for home loans would remain fixed for the first five years. Reports said that LIC Housing Finance has planned to offer the loans at fixed interest rates… Read More »
A recent press report said that the secular rise in interest rates over the past year or so is disappointing home buyers and has also affected the housing finance companies (HFCs) which may have to consider with a fall in income in the changed scenario. Reports said that the effect has not affected the performance… Read More »
According to a recent press report Mr. K.C .Chakrabarty, deputy governor, Reserve Bank of India has said the central bank has not banned the controversial teaser rates, but said banks may have to make additional provisioning for such loans. Recently mortgage major HDFC launched a special home loan product giving borrowers the choice to choose… Read More »