A recent press report said that The Jain Sahakari Bank Ltd., Mumbai has been penalised by the Reserve Bank of India on compliance with Know Your Customers (KYC) norms/Anti Money Laundering (AML) guidelines. The regulator has imposed a fine of Rs. 1 lakh on the Jain Sahakari Bank Limited, Mumbai, Maharashtra, in exercise of powers vested… Read More »
A recent press report said that the customers of ING Vysya Life Insurance are given an option to make their policy renewal payments at any of the 26 KarnatakaOne centres across Mysore, Bellary, Shimoga, Mangalore, Tumkur, Belgaum, Gulbarga and Davangere at no extra charge. According to reports, KarnatakaOne is the integrated citizen service project of… Read More »
According to a recent press report, the IDBI bank has cut down the interest rate on floating rate home loan scheme by 25 to 50 basis points for its existing customers. For new customers, the bank has introduced fixed-cum-floating rate scheme. The bank said that it has decided to offer the concession of 100 basis… Read More »
A recent press report said that the Retail and corporate credit, including home and auto loans, are likely to become costlier due to the RBI’s latest increase in the key rate. Mr. S. C Sinha, Executive Director, Oriental Bank of Commerce said that banks might increase both lending and deposit rates following the RBI action. He… Read More »
A recent press report said that the Thane Janata Sahakari Bank Ltd (TJSB) has planned to expand their existing network in the current fiscal. The bank has planned t increase the number branches from 55 to 68 and such expansion are done by venture into Goa, Kamataka and Gujarat. Reports said that the whole 55… Read More »
A recent press report said that State Bank of India has reduced the rate of interest on car loans to 11.25% with lowest EMI of `1,725/- per lakh for 7 years period. Reports said that SBI in association with Maruti had organized Car Loan Melas on October 17 and 18 at 39 different locations in… Read More »
A recent press report said that IndusInd Bank has increased the pricing on savings account deposits by up to 200 basis points. Reports said that the savings accounts balance up to Rs. 1 lakh will receive 5.5 per cent per annum, and balances above Rs. 1 lakh will get 6 per cent. The bank has… Read More »
A recent press report said that Kotak Mahindra Capital Company a subsidiary of Kotak Mahindra Bank and Evercore Partners have entered into an exclusive strategic alliance for cross-border M&A advisory services between India and the United States, the United Kingdom and Mexico. Reports said that the two leading investment banks will offer high-quality objective… Read More »
According to a recent press report the finance ministry said that it was committed to capitalizing State Bank of India. One of the finance ministry officials said that SBI’s capitalization program was independent of the perception of global rating agencies. According to reports the ministry has said that investors should not be worried with the… Read More »
A recent press report said that international rating agency Moody’s has suggested that State Bank of India has to increase and sustain the level of its Tier-1 capital, and improve its asset quality over an extended period in order to raise its stand-alone rating. SBI was downgraded to D+ from C-. As per reports from… Read More »