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.
Category Archives: Banks
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 »
Union Bank plans to raise maximum of $500 million in Feb
The government owned bank, Union Bank of India intends to raise $300-500 million by the way of a bond issue dated to appear next month. This is done to promote its business expansion plans, said a leading official of the bank on Wednesday.
Yes bank sells shares to institutional buyers to raise $225 mn
Yes Bank, a private sector bank announced on Thursday that it has managed to raise $225 million (approx. Rs 1,034 crore) via selling its shares privately to institutional investors. A statement released by the bank said, “The issue of $225 million, was significantly oversubscribed on strong demand from foreign institutional investors and domestic mutual funds”.
ICICI looking for domestic acquisition; excludes foreign buys
India’s biggest private sector bank ICICI Bank has ruled out the foreign buys. However it said it is looking to purchase local banks in order to maximize its presence and business in the country.
Glimpses of RBI's history
With liberalization, the Bank’s focus has shifted back to core central banking functions like Monetary Policy, Bank Supervision and Regulation, and Overseeing the Payments System and onto developing the financial markets. In 1991, with the External Payments Crisis, Rupee devalued in two stages. Unified exchange rate was introduced in 1993. To maintain the foreign exchange… Read More »
SBI union rejects new wage pact
The All-India State Bank Officers Federation (AISBOF) has rejected the proposed wage hike and pension benefits and demanded a separate wage revision.
SBI to open 23 branches abroad
State Bank of India is in advanced stages of opening 23 more branches abroad over the next four months, according to a top SBI official.
How safe is your money at banks?
On most cases of banks declaring bankruptcy, there is an inordinate delay on the part of the Reserve Bank of India (RBI) and the DICGC in settling the deposit insurance for depositors. The reasons cited include the progress in the process of liquidation and attempts to revive the banks.
Axis bank – A review of year 2009
The bank’s loan disbursement grew by 18% year-on-year, from Rs.68,853 crores as on 30th Sep’08 to Rs.81,044 crores as on 30th Sep’09, while investments rose to Rs.52,072 crores from Rs.37,998 crores, over the same period, a growth of 37% year-on-year . The net interest income rose to Rs.1,150 crores during quarter ending September 2009 from… Read More »