Allahabad Bank recently celebrated its 147th Foundation Day. Mr. Namo Narain Meena Minister of State for Finance stated that the RBI must skillfully manage the situation arising out of monetary tightening and the consequent rise in base lending rates of banks so that the credit growth is not constrained. He added saying that commercial banks… Read More »
Indian Bank has decided to start a full-fledged branch in Hong Kong in order to strike the booming Sino-Indian trade and financial flows. In a press report Mr. T. M. Bhasin, Chairman and Managing Director, Indian Bank said that the bank has decided to approach the Reserve Bank of India (RBI) for regulatory approval. He… Read More »
According to recent press reports Karnataka Bank Ltd, private sector banking institution based in the town of Mangalore in Karnataka has signed an agreement with Bartronics India Ltd in order to boost up the process of providing banking services in remote villages under its financial inclusion plan. The agreement was signed by the Managing Director… Read More »
Recent reports said that the State Bank of Hyderabad (SBH) is planning to tap their business potential in salary accounts of corporate. Ms Renu Challu Managing Director State Bank of Hyderabad said that Salary accounts are a focus segment for the bank. The bank offers a ‘Smart Salary Account’ package with zero balance and a… Read More »
A recent press report said that Kendriya Vidyalaya Sangathan (KVS) and Union Bank of India,India’s largest state-owned banks, have signed a Memorandum of Understanding (MoU) for salary disbursement of KVS employees across the country. According to the agreement, the bank has accepted to offer inclusive solution for disbursement of salary to all the 56,000 KVS… Read More »
Mr. M V Nair, Chairman and Managing Director, Union Bank of India, said that the RBI is likely to increase key policy rates in the month of May due to continuing high inflation in the country. This increase in key policy rates will add pressure to the banks’ lending rates. He also said that the… Read More »
The word mortgage has to be explained clearly before we start. Any property that is pledged to the financial institution/ bank until the repayment of a loan is done is called a mortgage. Generally houses, land etc are taken as mortgage. The word mortgage loan would mean two different things in Indian scenario and US… Read More »
Housing finance as a financial service is relatively new venture in India with a very quick growth in the sector. In 1970, the Housing and Urban Development Corporation (HUDCO) was set up to finance housing and urban infrastructure activities followed by the Housing Development Finance Corporation (HDFC) in 1977, which was the first housing finance… Read More »
Future Capital has introduced Loan against Property with easy repayment options. This loan supports dream of building the business to new heights, consolidating debts or even arranging funds for a marriage in the family, etc. The Loan against Property is offered against residential premises, a plot of land or commercial properties. A mortgage of property… Read More »
Gold has always been a blessing in disguise at the time of financial crunch. In international market, any time the market went down gold has been used for hedging the prices. Even in case of an individual, gold is a hedging tool .in time of financial crunch in an individuals’ life, gold has always helped… Read More »