A recent press report said that Bank of Maharashtra is likely to hike its base rate by 25 basis points from 1st October 2011, following the latest policy rate hike by the Reserve Bank of India. Mr. A. S. Bhattacharya, Chairman and Managing Director of the bank told the press that the bank has planned… Read More »
A recent press report said that YES Bank has signed a memorandum of understanding with the Indian Army for the YES Vijay Salary Account, which has been designed exclusively to meet the needs of the Army personnel. Reports said that the agreement has been signed by Dr Rana Kapoor, Founder, Managing Director & CEO, YES… Read More »
A recent press report said that YES Bank and Malayan Banking Berhad (Maybank), a Malaysian bank has entered into an agreement to collaborate on cross-border investment banking advisory, corporate banking, trade finance, remittance and other allied services. Dr Rana Kapoor, Founder, Managing Director and CEO, YES Bank, said that the banks tie up with Maybank… Read More »
The market has shown extreme fluctuation for last couple of months. The volatility has increased in last few days after Standard & Poor downgraded US credit rating from AAA to AA+ and warned to downgrade further to AA if the situation persists. This has created panic selling in American and European markets leading to the… Read More »
According to a recent report from Crisil, in case power distribution reforms are not undertaken advances of around Rs.56,000 crore, or nearly 12% of domestic financial institutions’ exposure to the sector, are likely to turn into bad loans. Reports said the Indian financial institutions had lend Rs.4.8 trillion to the power sector and that the… Read More »
Edelweiss Housing Finance Ltd is likely to introduce a home loan without having to liquidate your lifetime savings for the down payment. According to reports, if a person wants to buy a property worth Rs one crore, then instead of liquidating your investments to make the down payment of Rs 20 lakh you can give… Read More »
A recent press report said that State Bank of India (SBI) has extended 25 basis point concessional home loan schemes till December this year. Reports said that as per the scheme, SBI offers 25 bps discounts on interest rates on its card rate across the tenor of a floating home loan. The scheme was open… Read More »
A recent press report said that the Reserve Bank of India (RBI) has agreed to a request proposal by the state government to instruct various banks working in the state to provide housing loan under the differential rate of interest scheme (DRI) to home loan applicants below the Below Poverty Line (BPL). Reports said that… Read More »
A recent press report said that Mr. D. Subbarao, governor, Reserve Bank of India has favored bifurcation of the posts of chairman and managing director in state-run banks. He said that the experience of such a split in the private sector has been satisfactory. He said that the central bank was in discussions with the… Read More »
A recent press report said that the Reserve Bank of India has allowed resident individuals to repay housing loans in rupee on behalf of their close relatives, who are non-resident Indians (NRIs) or People of Indian origin (PIO). Reports said that the Reserve Bank of India has announced that it has been decided that where… Read More »