Decision on Parikh Panel report possible prior to Budget
On Thursday, the government said that it might take a decision on the Parikh Panel suggestions of liberalizing the oil rates and hiking the prices of kerosene and cooking fuel prior to budget.
Category Archives: Articles
Banks set to raise salaries by up to 14%
The branches of banks and their front offices are set to recover their lost glory. A year back, problems in worldwide financial markets and subsequent economic slowdown affected the sector.
Union Bank expects an increase in bad loans in next quarters
Union Bank of India foresees an increase in non-performing assets (NPA) in the forthcoming quarters. In fact, the bank has already seen slippages due to its restructured loans. The bank’s chairman and managing director MV Nair said that till December, the bank has seen a 5% reduction in the restructured loan portfolio worth Rs 4,700-crore.… Read More »
ICICI in better position in 2009, all trends positive as per Kochhar
On Monday, ICICI Bank Managing Director and CEO Chanda Kochhar claimed the bank’s 3rd quarter performance was “very positive”. She said the bank has come out stronger on all factors and has shown an operating profit of 22% after deducting treasury income.
SBI introduces ‘SBI Gift Card’ in Hyderabad
State Bank of India (SBI) today introduced a new product called ‘SBI Gift Card’ in Hyderabad. The gift card was formally introduced by the mayor of Hyderabad city, B Karthika Reddy. The function was attended by the bank’s Chief General Manager for AP region Shiv Kumar.
Standard Chartered Bank looking to hire smaller IT companies
Standard Chartered Bank, a leading Singapore-based bank predicts India will play a leading role in the technological aspect and introducing new products. It is also ready to work with smaller IT companies in order to offer economical services to its customers.
Indian investors lap up real estate in Dubai
During the year 2009, Indian investors ended up lapping the largest chunk real estate sales in Dubai. This was discovered in a new study conducted by FutureBrand’s Gulf Real Estate Study.
Tata Capital plans to complete raising funds for $ 400-mn PE fund in 6-months
Tata Capital, the financial services sector of the Tata Group, intends to end fund-raising for its US $350-400 million private equity fund during the following 6 months. This was stated by a senior official of the company.
Car makers report record sales in January
With the dawn of new year, leading car makers like Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors and also Fiat have recorded their highest monthly sales since their commencement. Sale of different types of cars went up by 33% to 175,526 units in January as compared to 131,636 units sold in January… Read More »
Prepayment penalty to continue
Banks are worried about the competition commission’s interference on homeloan prepayment penalty subject as they are worried that it would force their costs, hike risk and also increase the lending rates.