A recent press report said that Axis Bank, India’s third largest private Bank, has announced its tie up with Bank Albilad, Saudi Arabia, for remitting money from Saudi Arabia to any person in India. Reports said that Axis Bank has entered into an agreement with Bank Albilad, Saudi Arabia for offering remittance facilities to India.… Read More »
According to a recent press report, Tamil Nadu Chamber of Commerce and Industry has said that the Reserve Bank of India’s decision to increase the repo rate by 25 basis points will affect the common man and hold back industrial growth and investment in the country. According to Mr. N. Jegatheesan, President of the Chamber… Read More »
On 6th August, 2011, S&P downgraded US credit rating from AAA to AA+. The fundamentals of US credit were going down for quite some time and it was just a matter of time before US credit rating would have downgraded. The rating agency also slammed US lawmakers for not taking the right action to solve… Read More »
Signs of economic weakness, Standard & Poor’s downgrading of the U.S.’s credit rating and spreading debt crisis in Europe had heightened worries and all eyes were on Fed as it met yesterday. The global stock markets which had witnessed a meltdown over the last 2 days were hoping for some miracle.
A recent press report said that bankers are expecting a 25-30 per cent rise in spends on debit and credit cards in the forthcoming festive season. According to reports from the Reserve Bank of India Web site, there are close to 25.5 crore debit and credit cards in circulation as on March 31, 2011. And… Read More »
Pune-based public sector lender Bank of Maharashtra is hopeful of receiving Rs 800 crore from the government as part of the capital infusion plan in the current fiscal. Mr. A. S. Bhattacharya, CMD, Bank of Maharashtra said that the bank has approached the government for additional capital infusion of Rs 800 crore. He said that… Read More »
A recent press report said that Bank of Baroda (BoB) has opened two branches, one in Manikbaug and the other in Pimple Saudagar in Pune. The branches were inaugurated by Mr. CD Kalkar, general manager (Maharashtra & Goa zone) of Bank of Baroda (BoB). Reports said that the ceremony was also attended by Kishor Kharat,… Read More »
A recent press report said that Bank of Baroda (BoB) is looking at a 23 to 25 percent rate of growth, higher than the industry average of 20 percent. Mr. M. D. Mallya, Chairman and Managing Director, BOB said that the bank has registered 25 percent growth in the first quarter of the current year… Read More »
According to a recent press report country’s largest lender State Bank of India’s chairman Pratip Chaudhuri has said there will be a hike in its interest rates in the next 15 days. He said that the bank is likely to hike its rate in another 15 days. He also said that the quantum of the… Read More »
A recent press report has said that State Bank of India (SBI) and Export-Import Bank of India (Exim Bank) have planned to provide a 14-year loan to a Spanish solar energy producer Grupo T- Solar Global SA and U.S.-based Astonfield Renewable Resources for setting up a solar plant in the country. Mr. Ameet Shah, co-… Read More »