A recent press report said that Oriental bank of Commerce and State Bank of India has launched their co – branded credit cards. Both the banks have already entered into a memorandum of understanding (MoU) regarding this purpose. In his statement Mr. Nagesh Pydah, Chairman and Managing Director said that by the end of March… Read More »
A recent press report said that the net profit of Axis bank increased to 25 per cent to Rs.920 crore compared to the net profit of Rs.735 per cent during the corresponding period last year. In his statement Mr. Somnath Sengupta, Executive Director and Chief Financial Officer of Axis Bank said that the gross across… Read More »
A recent press release said that Syndicate Bank has posted an increase in net profit which grew by 36 per cent for the quarter ended September 30, 2011. The bank’s net profit for second quarter was Rs.323 crore which has risen 36 per cent from the net profit for the corresponding period which amounted to… Read More »
A recent press report said that the public sector bank IDBI has planned to raise around $ 200 million overseas fund through medium term notes from Switzerland market. In his statement Mr. Melwyn Rego, the Executive Director of IDBI bank said that they have been observing the Switzerland market keenly and the Korean Exim bank… Read More »
A recent press report said that the Reserve Bank of India is facing heat to announce the monetary policy for the second half of this fiscal year from both industry and growth of inflation. On one hand the industrial players and consumers look forward that the RBI might not increase the interest rates as that… Read More »
A recent press report said that the total value of transactions carried out through cheques throughout the country was down by 8.3 per cent in the month of August, 2011 compared to the same period last year. According to the data released by the Reserve Bank of India, cheques worth Rs.8.11 lakh crore were cleared… Read More »
A recent press report said that the financial inclusion measures and increased customer focus has significantly changed the Indian Banking scene from class banking to mass banking. In his statement, Mr. S. K. Chatterjee, director of Lucknow – based Bankers Institute of Rural Development (BIRD) said that India still has a great potential for retail… Read More »
According to a recent press report State Bank of India has planned to raise overseas fund to meet the foreign currency requirements of its customers. In his statement Mr. Hemant Contractor, Managing Director of International Operations of SBI said that the bank would decide on raising overseas funds next month. The bank has already planned… Read More »
A recent press report said that the banks have decided to extend the tenure of the home loans after stimulation of the Government and the fear of risks to asset quality. Many public sector banks such as State Bank of India, Central Bank, Syndicate Bank and Canara Bank have decided to increase the period of… Read More »
A recent press report said that the Finance Ministry has considered distributing automated teller machines (ATMs) district – wise in order to make the ATMs viable for banks. The Ministry has felt that this move would reduce the cost of setting up the ATM infrastructure as well as it also guarantees the distribution. The banks… Read More »