A recent press report said that Mr. Diwakar Gupta, Managing Director, and CFO, State Bank of India, has cautioned banks from issuing free credit cards. He said that the issuing of credit cards should be made against a fee so that only those who value it will get it. He asked banks not to push… Read More »
A recent press report said that Oriental Bank of Commerce reported a 2.37 per cent decline in net profit for the first quarter ended June 30, 2011 at Rs 354.70 crore. Reports said that the decline in profit was due to the increase in the cost of deposits much sharper than the increase in yield… Read More »
A recent press report said that Kotak Mahindra Bank’s net profit has increased by 35 per cent to Rs 252 crore during the quarter ended June 30, 2011, from Rs 187 crore in the year-ago quarter. Reports said that the growth in profits was due to the growth in interest income and lower provisions. Mr.… Read More »
A recent press report said that Indian Overseas Bank has appointed consultants Deloitte Haskins and Sells to explore prospects of expanding business to 14 more centres abroad. Disclosing this, the Chairman and Managing Director, Mr. M. Narendra, said here that these centres are spread over Africa and West Asia. Reports said that the bank has… Read More »
A recent press report said that Indian Bank has paid Rs 297.87 crore to the Central Government as dividend for the financial year 2010-11. The dividend cheques were given to the Finance Minister, Mr. Pranab Mukherjee, by Mr. T. M. Bhasin, Chairman and Managing Director of the bank. Mr. V. Rama Gopal and Mr. Rajeev… Read More »
A recent press report said that a Leading private equity firm ICICI Venture today has planned to raise up to Rs 1,000 crore from high net worth individuals in the next 6-9 months to invest in the residential real estate. Sanjeev Dasgupta, ICICI Venture President (Real Estate) told the press that they are planning to… Read More »
The Kozhikode District Co-operative Bank Limited, (erstwhile Malabar Co-op Central Bank Limited known as MCC Bank) was registered and started functioning on 03.12.1917. In the beginning, the name of the Bank was Malabar District Co-operative Bank Ltd., registered under Section 9 of Act II of 1912(India). Initially, the area of operation of the Bank was extended to… Read More »
The Kozhikode District Co-operative Bank Limited, (erstwhile Malabar Co-op Central Bank Limited known as MCC Bank) was registered and started functioning on 03.12.1917. In the beginning, the name of the Bank was Malabar District Co-operative Bank Ltd., registered under Section 9 of Act II of 1912(India). Initially, the area of operation of the Bank was extended to… Read More »
Shriram Urban Co-operative Bank Ltd. Nagpur named after Lord Shriram, idol of the people of India commenced its business on the eve of Ramnavami, the 21st March, 1996. The bank is in profit since inception and has been consistently receiving “A” classification in the statutory audit for all these years. Bank has complied all the… Read More »
A recent press report said that UCO Bank has launched its small and medium enterprises (SME) loan hub in Bangalore in its bid to increase lending to the sector. Mr. Arun Kaul, chairman and managing director of UCO Bank said that the bank has been a pioneer in arranging credit for priority sector and has… Read More »