A recent press report said that in the second quarter results of most of the private sector banks have reported a higher growth in retail loans than corporate or wholesale advances. Bankers said that the demand for home loans and car loans have been increasing as the income of the customers have been in line… Read More »
A recent press report said that the recent hike in key interest rates by the Reserve Bank of India might make the bankers increase their interest rates on the retail loans and corporate credit including home loans and auto loans. According to Mr. S. C. Sinha, Executive Director of Oriental Bank of Commerce, the banks… Read More »
A recent press release said that the Union Cabinet has approved an interest subsidy of 1 per cent for housing loans up to Rs. 15 lakh in order to enhance the housing sector. Currently the home loan limit for interest subsidy is prevailing at Rs. 10 lakh for which the cost of house should not… Read More »
As per the recent press report it is seen that the banks are facing a challenge of rising nonperforming assets (NPA) and the difficulty to recover them. Recently the State Bank of India has been downgraded by the Moody credit rating agency on this regard where the gross nonperforming assets grew to 3.52 per cent… Read More »
A recent press report said that inflation which is currently prevailing high would slide down in the coming months. In spite of ardent efforts made by the Reserve Bank of India by tightening the monetary policy in order to curb the inflation, the inflation rate is above the comfort zone of the Government which is… Read More »
A recent press report said that as a part of financial inclusion many initiatives have already been taken viz. nationalization of banks, the lead bank scheme, setting up of regional rural banks, service – area approach, self help groups. In spite of all these efforts only 18 per cent of the population has debit cards… Read More »
A recent press report said that State Bank of India has planned to offer pure gold coins as part of its festival offer. The state run bank said that it would offer pure gold of 999.9 fineness. These gold coins would be issued in the following denominations of 2 gm, 4 gm, 5 gm, 8… Read More »
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 »