A recent press report said that the Finance Ministry has considered distributing automated teller machines (ATMs) district – wise in order to make the ATMs viable for banks. The Ministry has felt that this move would reduce the cost of setting up the ATM infrastructure as well as it also guarantees the distribution. The banks… Read More »
A recent press report said that Saudi Arabia’s central bank is not interested in buying distressed or speculative assets such as troubled European debt and gold. The world’s No. 1 oil exporter like most of its Gulf Arab neighbours is a major holder of dollar assets as its riyal currency is pegged to the greenback… Read More »
According to a recent press report, Dr K. Rosaiah, Governor, Tamil Nadu, who addressed the 95th Founders Day celebration of Karur Vysya Bank, appreciated the bank for taking banking services to the masses. On addressing the 95th Founders Day celebration of the bank, he said that nationalization of banks in 1969 gave a standard shift… Read More »
According to a recent press report, Dr K. Rosaiah, Governor, Tamil Nadu, who addressed the 95th Founders Day celebration of Karur Vysya Bank, appreciated the bank for taking banking services to the masses. On addressing the 95th Founders Day celebration of the bank, he said that nationalization of banks in 1969 gave a standard shift… Read More »
A recent press report said that National Housing Bank (NHB) has planned to be the housing sector’s window for external commercial borrowings (ECBs). It desires to pass on benefits of ECBs, including low cost, to the housing-finance sector without transferring any risks. Mr. R.V. Verma, Chairman and Managing Director, NHB, told the press that NHB… Read More »
MAPE Advisory Group has appointed Mr. Sunil Mehra as the Managing Director of investment banking. Prior to this Mr. Mehra was the Managing Director in the Corporate Finance group of Standard Chartered and with DSP Merrill Lynch as a director during 2000-2006. He is also the former Vice-President of ABN AMRO for five years and… Read More »
According to reports from Axis Bank, the banks have announced that the following changes will come into effect from 1st November 2011. With respect to the usage of other bank ATM’s, it has said that the transactions on prepaid cards i.e. the cash withdrawals would be Rs. 20.00/- (including taxes) per Financial transaction and Rs.… Read More »
A recent press report said that IDBI Mutual Fund, a wholly-owned subsidiary of IDBI Bank has launched an open-ended gold exchange traded fund (ETF) for retail investors. Reports said that the new fund offer (NFO) will be opened for subscription from 19 October and will end on 2 November 2011. The allotment of units is expected… Read More »
A recent press report said that HDFC bank had planned to bring back Diner’s Club, the oldest card in India. The premier charge card was sold by Citi to in the year 2008, will soon. The card is expected to be relaunched by an affiliation with HDFC Bank. HDFC bank will be a franchise for… Read More »
A recent press report said that car manufacturers are bundling various offers and gifts to speed up the sluggish auto market. According to reports, Maruti Suzuki has offered discounts ranging from Rs. 20,000-Rs25,000 on Alto and Wagon R while Volkswagon India has offered a discount of Rs. 40,000 in the form of free insurance premium,… Read More »