A recent press report said that the Government has asked the public sector banks who are currently extening their business into insurance, which is capital intensive business, are asked to concentrate on their core business. The Government has asked the banks to postpone their plans until the end of this financial year because it has… Read More »
A recent press report said that the RBI has announced that the Supervision of all Microfinance institutions will be under its control and that there is no plan of outsourcing the Regulatory framework regarding the MFIs Function. Dr. K.C. Chakrabarty, Deputy Governor, in a seminar said that the RBI’s main Goal is to make the… Read More »
A recent press report said that Bank of India has planned to establish four more branches abroad in Uganda, Rwanda, Bostwania and Canada. The bank presently draws 19 per cent of its business in international operations across five continents and has now planned to launch four more subsidiaries overseas. Mr.N.Seshadri, Executive Director of Bank of… Read More »
A recent press report said that the Textiles Ministry is working on a plan to restructure the loans borrowed by the textiles units from the government at concessional interest rates. The restructure of loans borrowed is expected to give relief to the textile units. According to an official statement the restructuring plan might consider moratorium… Read More »
A recent press report said that the Government has asked the public sector banks who are currently extending their business into insurance, which is capital intensive business, are asked to concentrate on their core business. The Government has asked the banks to postpone their plans until the end of this financial year because it has… Read More »
According to a recent press report, Mr. Jean Claude Trichet, President of European Central Bank said that the treaty of European Union should be changed in order to stabilize the trade bloc. This would prevent one member from creating problems to the other members and destabilizing the bloc as a whole. He also insisted on… Read More »
According to a recent press report from ICRA, a credit rating agency, the lenders are anticipated to restructure the loans amounting to Rs. 1 lakh crore over the next 12 – 18 months, keeping in mind the rising interests and input costs and project delays affecting the companies severely. Mr. Naresh Takkar, the Managing Director… Read More »
A recent press report said that the net profit of Housing Development Financing Corporation (HDFC) bank has increased to 20 per cent to Rs. 971 crore for the second quarter ended September 30 of this fiscal year compared to the corresponding period of last year. Last year HDFC bank posted a net profit of Rs.… Read More »
A recent press report said that IDBI bank has planned to raise $1 billion of debt from abroad over the coming twelve months. Mr. R. M. Malla, Chairman and Managing Director of IDBI said that this overseas borrowing which is to be done through medium term note (MTN) would be in tranches. A MTN note… Read More »
A recent press release said that Development Credit Bank has launched Payless Credit Card which would benefit the banking customers were denied credit cards. These customers were not given credit cards because they did not belong to the secured salaried segment. Now DCB has brought in a solution by introducing Payless Credit Card, with which… Read More »