A recent report said that the country’s second largest lender Punjab National Bank (PNB) has raised both its lending and deposit rates by up to 75 basis points after the rate revision by the RBI. Reports said that the base rate or the minimum lending rate has been increased by 75 basis points to 10.75… Read More »
A recent press report said that Lakshmi Vilas Bank has introduced Visa Debit Gold Card for its premier customers. Mr. Somasundaram, Chief Executive of the bank said that the bank has issued around 3.75 lakh cards. He said that the bank is expecting at least a-third of its card holders to opt for the Visa… Read More »
A recent press report said that Karur Vysya Bank has reported an increase of 38 % net profit. The bank’s net profit has gone up to Rs. 116.70 crore against Rs 84.48 crore during the corresponding quarter of the earlier fiscal. Mr. K. Venkataraman, Chief Executive and Managing Director, of the bank said that the… Read More »
A recent press report said that IDBI Bank has reported 34 per cent rise in net profit to Rs. 335 crore on higher interest income and interest margin. The bank has planned to restrain credit growth in coming quarters as the lender wants to bring down stressed assets and improve the over all asset quality.… Read More »
A recent press report said that the Export-Import Bank of India (Exim Bank) has entered into an agreement with Swaziland for extending a USD 20 soft loan to finance exports and consultancy services for setting up an Information Technology Park in the African nation. Reports from the Reserve Bank said that the Line of Credit… Read More »
The Mysore Merchants Co-Operative Bank Limited is a trendsetter Bank in Karnataka which serves its customers all the 365 days of the year. The Mysore Merchants Co-operative Bank Limited was converted to a bank on 29-06-1962. The main object of the Bank at that time was to protect the businessman from the exploitation of the… Read More »
The Mysore Merchants Co-Operative Bank Limited is a trendsetter Bank in Karnataka which serves its customers all the 365 days of the year. The Mysore Merchants Co-operative Bank Limited was converted to a bank on 29-06-1962. The main object of the Bank at that time was to protect the businessman from the exploitation of the… Read More »
A recent press report said that Corporation Bank has increased the rate of interest on term deposits of different bands. The revised rates for deposits of less than Rs 1 crore are as follows: For maturity band from 30 to 45 days, the rate has been increased to 7 per cent from 4.50 per cent.… Read More »
A recent press report said that City Union Bank has reported a 32 per cent growth in net profits at Rs. 59 crore for the first quarter of 2011-12 compared with Rs 44 crore for the same period last year. Reports said that the bank has planned to hike its base rate by 75 basis… Read More »
A recent press report said that the Reserve Bank of India has penalised Citibank for violation of Know Your Customer (KYC) and Anti-Money Laundering (AML) norms while opening accounts, which led to perpetration of fraud at its Gurgaon branch. The Reserve Bank of India has imposed a monetary penalty of ` 25.00 lakh (Rupees twenty… Read More »