A recent press report said that the global electronics major Siemens has been granted a non-bank lender license by the Reserve Bank of India for providing financial services to its Indian customers. Reports said that Siemens Financial Services (SFSPL), the NBFC, will focus on developing an asset financing business by offering products such as loan,… Read More »
A recent press report said that the State Bank of India has planned to scrap the annual interest rate reset clause on all loans and move to uniform base rate-linked payments to smoothen out the fluctuations in its profitability. Mr. Pratip Chaudhuri, chairman of SBI said that most term loans have one-year reset clause, which… Read More »
A recent press report said that State bank of India has planned to open an Australian subsidiary within a year to meet the large retail market from Indians migrating to that country. Mr. Pratip Chaudhuri, Chairman of the bank, said that the cost of setting up a subsidiary at Australia will be around $75 million.… Read More »
A recent press report said that state Bank of India the country’s largest lender has violated the Reserve Bank of India’s credit exposure norms during three consecutive years with regard to its loan provided to Mukesh Ambani-led Reliance Industries. The bank is already facing such problems with Air India and other telecom firms that are… Read More »
A recent press report said that the RBI has sets up Central Registry in order to prevent property loan frauds. The records maintained by the by the Central Registry will be available for search by any lender or any other person interested in dealing with the property. It is believed that the availability of such… Read More »
According to recent press reports, Dr. Prakash Bakshi has been appointed as s the new chairman of the National Bank for Agriculture and Rural Development by the Government of India. NABARD is set up as a top Development Bank in order to help credit flow for promotion and development of agriculture, small-scale industries, cottage and… Read More »
A recent press report said that LIC has introduced a new health policy that covers your parents’ in-law in heath insurance, apart from your parents. The name of the scheme is ‘Jeevan Arogya’, which offers comprehensive hospitalisation benefits for the whole family, including in-laws of the principal insured. The features of the policy are very… Read More »
A recent press report said that foreign loans have suddenly become very attractive scheme for Indian corporate due to the interest rate differential and a sharp drop in hedging costs. Top Indian corporate can now raise fully hedged foreign loans at 100 to 200 basis points below domestic loans. This arbitrage opportunity has led to… Read More »
According to a recent press repots loans against bank fixed deposits are gaining traction. As per the data released by the RBI, these loans jumped by about 25 per cent in April 2011, against about 3 per cent in April 2010. The loans against bank deposits went up by Rs 11,966 crore between April 23,… Read More »
A recent press report said that ING Vysya Bank, the private lender has planned to raise funds by issuing up to 28 million equity shares to the promoters and qualified institutional players. The bank has not yet mentioned about the amount that is to be raised from the proposed offers. Reports said that with reference… Read More »