A recent press report said that the private insurer IndiaFirst Life Insurance has launched Money Balance Plan, a new life insurance plan that provides insurance cover on life and also an additional benefit to earn and secure returns on the invested money. IndiaFirst Life Insurance is a joint venture between two large public sector banks… Read More »
A recent press report said that the Reserve Bank of India has relaxed the branch opening norms in Tier II cities in order to improve and encourage the domestic scheduled banks to expand their branches in these areas. Hence the domestic banks need not require any prior approval to set up branches in Tier II… Read More »
A recent press report said that the Kerala – based Federal Bank has reported a net profit of Rs. 191.6 crore for the second quarter ended September, 2011 which has risen 36 per cent against the net profit of the corresponding period last year. The bank said that in spite of the challenging economic condition… Read More »
A recent press report said that the Finance Ministry has planned to infuse Rs. 10, 000 to Rs. 20, 000 crore into the public sector banks in order to reinforce them and hence the ministry also wanted the banks to work more efficiently to earn high returns. Mr. D.K. Mittal told that the executive level… Read More »
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 »