A recent press report said that the Government of India has appointed two more members on the Central Board of Directors of the Reserve Bank of India. According to reports the new Directors are Shri Y.H. Malegam, who has been re-appointed from October 7, 2011 and Prof. M.V. Rajeev Gowda who has been appointed from… Read More »
A recent press report said that Syndicate Bank, a public sector bank, and Karnataka Vikas Grameena Bank, a Adhara-based regional rural bank, have planned to jointly instituting ‘professor chair on agricultural finance’ at the University of Agricultural Sciences, Dharwad. Reports said that Mr. Basant Seth, the Chairman and Managing Director of Syndicate Bank, has planned… Read More »
A recent press report said that the Reserve Bank of India has conveyed their approval for the re-appointment of Dr. V. A. Joseph, as Managing Director & CEO of South Indian Bank Ltd for a period of three years, with effect from October 01, 2011 till September 30, 2014. Recently the bank has recorded 24… Read More »
A recent press report said that the RBI has penalized Gujarat-based cooperative lender Mansa Nagarik Sahakari Bank Limited (MNSBL) for violation of Anti-Money Laundering (AML) guidelines. The RBI has imposed a penalty of Rs 1 lakh on Gandhinagar- headquartered MNSBL for violating the RBI’s instructions regarding the submission of reports on cash transactions above Rs… Read More »
A recent press report said that Reliance Power has received Reserve Bank of India’s approval for raising $2.2 billion loan from the US and Chinese banks, for the 3,960 mw-Sasan power project in Madhya Pradesh. Reports said that $1.1 billion would be offered by Chinese banks, including Bank of China, China Development Bank and Export… Read More »
A recent press report said that the Reserve Bank of India (RBI) has penalised Gujarat-based co-operative sector lender – Porbandar Vibhagiya Nagarik Sahakari Bank (PVNSB) – for violation of its guidelines. The RBI has imposed a fine of Rs. 1 lakh on PVNSB for violating RBI guidelines on ‘Know Your Customer (KYC)’ norms as well… Read More »
We tend to ignore the basic fundamental of stocks when we invest. However small the ownership of the company, we tend to buy it! Every stock represents a tiny ownership of the company. This implies that the corporate events within the company will impact the stock. The purpose of a firm is to maximize the… Read More »
A recent press report said that the National Housing Bank (NHB) has planned to take a decision on whether there will be a complete on floating-rate home loan. According to Mr. R. V. Verma, NHB chairman and managing director told the press that the decision will be in the best interest of the borrowers. He… Read More »
A recent press report said that the Finance Ministry is likely to look for the Parliament’s nod for an additional Rs. 10,000-12,000 crore to recapitalize about half a dozen public sector banks this fiscal. Reports said that over and above Rs 6,000 crore has been allocated in the budget. Mr. D. K. Mittal, Financial Services… Read More »
A recent press report said that the Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees five lakh only) on Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS)… Read More »