The Tamilnad Mercantile Bank (TMB) has opened its 216th branch, at Chembur, Mumbai. The branch is computerised and offers safe deposit locker facility along with ATM service. This takes the banks total ATM count to 138.
United Bank of India has opened its 1,474th branch at Mithipur in Murshidabad district. The branch was opened as part of its plans to make available banking services to people in West Bengal and was inaugurated by the Union Finance Minister, Mr Pranab Mukherjee.
Housing finance major HDFC Ltd is looking to enter the rural segment with its tie-up with SKS Microfinance. SKS Microfinance will provide loans for extension and improvement of dwelling units that double up for income-generating activities such as eateries, papad and agarbathi-making etc and HDFC will provide technical support and the first tranche of funding of Rs… Read More »
24 Punjab National Bank is planning to expand its network in Maharashtra and has sought RBI permission to add 11 branches to the existing 156 in the State.
Bank of India has raised Rs 325 crore Tier-I capital through a bond issue. According to a press release issued by the bank, the capital was raised through the issuing of innovative perpetual debt instrument (IPDI) carrying a coupon rate of 9 per cent.
According to a media report, private sector lender Kotak Mahindra Bank is looking at acquisitions in India in the coming months.
RBI Governor D Subbarao announced that commercial banks would come out with a plan for financial inclusion by the end of the financial year. Mr Subbarao was speaking on the sidelines of a bankers’ meet on financial inclusion and promotion of financial literacy.
IDBI Bank and Tata Motors signed an agreement in Mumbai for providing auto finance to prospective customers.
India’s largest private sector bank, ICICI Bank, plans to go aggressive on car and truck loans again. The bank had been the biggest lender for automobile buyers till three years ago but had scaled back on auto loans in the past two years on the back of rising defaults. The bank is however discarding its… Read More »