According to a recent press report banks have started lending to microfinance institutions (MFIs). The RBI has recently issued guidelines on microfinance lending inter- alia directing banks to resume lending to microfinance sector and treat them as priority sector advances. Mr. Thomas, Managing Director of ESAF Microfinance said that the State Bank of India has… Read More »
A recent press report said that banks have opposed the Damodaran Committee’s proposal for a five-fold increase in deposit insurance cover. Banks feel that the increase in deposit insurance cover could have serious cost implications for the banks due to higher premium outgo. Reports said that the RBI’s Committee on Customer Service in Banks chaired… Read More »
A recent press report said that various banks have taken control of Trident Microfin by getting a majority stake in the firm, leaving promoter and chief executive Mr. Kishore Kumar Puli with a stake of only 4.2 per cent. As per reports, banks such as ICICI Bank, HDFC Bank, Axis Bank, Indian Overseas Bank, Bank… Read More »
A recent press report said that two people were arrested in southeast Delhi for allegedly forging documents and cheating ICICI bank of over Rs 63 lakh. The accused were been identified as Girish Pathak and Jitender Singh, said cops. According to reports the accused had faked the signature of the customer and placed a request… Read More »
A recent press report said that Kotak Mahindra Bank which is a Private sector bank has reported a growth in its net profit to about 18.8 per cent to Rs.432.58 crore for the second quarter ended September this fiscal year which was Rs.364.11 crore during the corresponding period last year. The total income of the… Read More »
A recent press report said that the Gold loan company Muthoot Finance has reported a net profit of 88 per cent to Rs.215 crore for the second quarter ended September 30, 2011 which was Rs.115 crore during the same period last year. The total income of the company which was Rs.529 crore during the second… Read More »
A recent press report said that the State Bank of India would be the major beneficiary of the Government’s recapitalization programme for banks. The bank might get around Rs.8000 to Rs.8500 through various instruments such as preference shares. The bank might issue follow on public offer and rights issue once the capital base is increased.… Read More »
A recent report said that the Bank of Maharashtra had reported a robust net profit and the bank’s continuous efforts resulted in the recovery of loans to around Rs. 368 crore. The reason behind this success was their style of recovering the loans from borrowers who do not turn up to pay the dues. Bank… Read More »
A recent press report said that the State Bank of Mysore has reported a fall in its net profit for the second quarter ended September, 2011. The net profit of the bank fell by 17 per cent to Rs.77.78 crore against Rs.93.36 crore during the same period last year. Mr. Dilip Mavinkurve, Managing Director of… Read More »
A recent press report said that the Bank of Maharashtra has announced a net profit that has been almost doubled than the corresponding period last year. The bank has reported a net profit of 92 per cent to Rs. 100 crore for the second quarter ended September 2011 against Rs. 52 crore during the corresponding… Read More »