Recent press reports said that the Muthoot group, which is well known for its gold loan segment has planned to set up a new company, Muthoot Housing Finance which will provide home loan and complete subsidy of Muthoot Fin. Corp. The company has planned to issue loans ranging from three lakhs to 10 lakhs with… Read More »
According to a recent press report Indian bank, a major Indian Commercial Bank has planned to raise Rs 4,500 crore in order to expand its overseas lending. The bank has decided to list the bond issue on the Singapore stock exchange and has decided to raise funds through medium-term notes in two or three tranches… Read More »
Recent reports said that Allahabad bank, a leading public sector commercial bank in India has recorded Rs.2,07,785 crore as its total business as on end of December 2010 against Rs.1, 59, 843 crore in the previous year. The bank has achieved 30 % growth in its total business where it has decided to cross Rs.400000… Read More »
State-run banks will take a strike of Rs 4,000 crore this financial year with the banking regulator directing these lenders to provide for the pension liabilities of their retired staffs in the balance sheet for ‘10-11. This is step is likely going to reflect on the profitability of the banks. Banks have asked for the… Read More »
Chennai-based public sector bank, IOB do not plan to raise their base rate immediately. Mr. M. Narendra, Chairman and Managing Director, Indian Overseas Bank, told the press that the bank will take a decision on raising its base rate seeing the move from other public sector players after the Monitory Policy Revision which is expected… Read More »
According to a recent press report ICICI bank and The Energy and Resources Institute (TERI) have signed a ‘soft loan agreement’ in order to promote research and development in the areas of nano-biotechnology, energy efficient technology, micro enterprise systems and other vital areas of sustainable development. The agreement was signed by General R. K Pachauri,… Read More »
Credit from banks in India has increased over 22% annually to touch Rs. 40.76 lakh crore towards the end of the last fiscal. This increase in credit is likely to indicate the boosting in the industrial activity. This is recorded as of April 8th of this year as against the last year’s amount of 33.37… Read More »
According to reports from the Reserve Bank of India, banks can not extend loans against Indian Depository Receipts (IDRs) issued by overseas companies. An IDR is nothing but a rupee-denominated instrument in the form of a depository receipt created by an Indian depository against the underlying equity of the issuing foreign company. IDRs enable foreign… Read More »
It’s always nice to take a leave from our regular work and spend time with the family and friends on a vacation. It is not an easy task to plan for a travel during vacation, the expenses involved is very huge these days. The banks in our country offer travel loans which meet travel expenses… Read More »
According to recent press reports the State Bank of India has raised its base rate by 25 basis points (a basis point is 0.01 percentage points), before the release of RBI’s monetary policy review. The new base rate of SBI from 25th April 2011 would be 8.50%. Reports said that there are fair chances for… Read More »