Union Finance Minister, Mr Pranab Mukherjee, said that the Government cannot allow commercial activities of banks to be supervised by representatives of people. Mr. Mukherjee was speaking in the Lok Sabha.
SBI Cards, one of the largest credit card issuers in the country is moving on to better times. The credit card major saw its non-performing assets (NPAs) fall to 9.77 per cent, as on September 30, against 10.5 per cent at the same time last year. Formerly, the NPA’s had reached an all time high… Read More »
In the near future, banks may be able to do away with the “know your customer” process. This is a possibility once a sizeable chunk of population gets a Unique Identification number. Addressing the press after attending a meeting organised by the Reserve Bank of India (RBI) on Friday on using UID for financial inclusion,… Read More »
The government owned bank, United Bank of India, is likely to file a red herring prospectus with the Securities and Exchange Board of India for their initial public offer (IPO) next week. This was stated Chairman by the Chairman of the bank, Mr. Satish C Gupta. Mr. Gupta said, “We hope to come out with the IPO… Read More »
According to a statement released to the press by United Bank of India, the bank has obtained licenses for opening 11 new branches in unbanked gram panchayats in the state of West Bengal. This is being done in the backdrop of the recommendations of the T M Bhasin Committee, appointed on behalf of West Bengal State… Read More »
A key Parliamentary Standing committee has recommended that financial charges levied by credit card companies should not be left entirely at the discretion of the banks. The high interest rate charged by credit card providers has finally caught the eye of the law makers and this recommendation is sure to create pressure on the RBI to regulate… Read More »
In its mid – year review for 2009-10, which was tabled in Parliament by Finance Minister Pranab Mukherjee, the Govt. said the Reserve Bank needs to withdraw the easy money policy gradually so as to ensure sustained economic recovery and contain inflationary expectations.
As part of its global expansion plans, the State-run Oriental Bank of Commerce plans to open more offices in Hong Kong and Africa.
”=[[p’ New generation private sector bank, IndusInd Bank, inaugurated Mumbai’s first solar-powered automated teller machine. This move comes as a part of its Green Office Project campaign “Hum aur Hariyali”. As another part of the campaign, the bank also unveiled a “Green Office Manual – A Guide to Sustainable Practices,”. The manual has been prepared… Read More »
A senior bank official of private sector lender Dhanalakshmi Bank said the bank is aiming for a total business of Rs 12,000-crore by FY10. The bank is also planning to hire 300 more personnel to take its total headcount to 4,000 by the same period.