A recent press report said that the Textiles Ministry is working on a plan to restructure the loans borrowed by the textiles units from the government at concessional interest rates. The restructure of loans borrowed is expected to give relief to the textile units. According to an official statement the restructuring plan might consider moratorium… Read More »
A recent press report said that the Government has asked the public sector banks who are currently extending their business into insurance, which is capital intensive business, are asked to concentrate on their core business. The Government has asked the banks to postpone their plans until the end of this financial year because it has… Read More »
According to a recent press report, Mr. Jean Claude Trichet, President of European Central Bank said that the treaty of European Union should be changed in order to stabilize the trade bloc. This would prevent one member from creating problems to the other members and destabilizing the bloc as a whole. He also insisted on… Read More »
According to a recent press report from ICRA, a credit rating agency, the lenders are anticipated to restructure the loans amounting to Rs. 1 lakh crore over the next 12 – 18 months, keeping in mind the rising interests and input costs and project delays affecting the companies severely. Mr. Naresh Takkar, the Managing Director… Read More »
A recent press report said that the net profit of Housing Development Financing Corporation (HDFC) bank has increased to 20 per cent to Rs. 971 crore for the second quarter ended September 30 of this fiscal year compared to the corresponding period of last year. Last year HDFC bank posted a net profit of Rs.… Read More »
A recent press report said that IDBI bank has planned to raise $1 billion of debt from abroad over the coming twelve months. Mr. R. M. Malla, Chairman and Managing Director of IDBI said that this overseas borrowing which is to be done through medium term note (MTN) would be in tranches. A MTN note… Read More »
A recent press release said that Development Credit Bank has launched Payless Credit Card which would benefit the banking customers were denied credit cards. These customers were not given credit cards because they did not belong to the secured salaried segment. Now DCB has brought in a solution by introducing Payless Credit Card, with which… Read More »
As per the recent press release the fourth largest private lender, Federal bank has offered to provide a discount of 2 per cent on gold purchases during Diwali as festival offer. The bank has also announced to offer a special gold loan offer as a part of its festival offer. The bank being the largest… Read More »
A recent press release said that the Kerala based Federal Bank has planned to enter into investment banking and equity broking. A senior official from the Kochi based lender told that the bank would make its entry into equity broking business and the bank is also eager to open investment banking services. But the timelines… Read More »
As per the recent press report, the Finance Minister, Mr. Pranab Mukherjee has denied to give more monetary resources to the International Monetary Fund (IMF) to help European bailout. During the G-20 meeting on reforms in the international monetary system the Finance Minister pointed out the decision. He pointed out that the international monetary fund… Read More »