A recent press report said that Indian banks have told the Reserve Bank of India, which has raised rates 13 times since February 2010 to control inflation to change course and keep interest rates steady as they fear asset quality will be further impaired with high interest rates and a slowdown in growth. Reports said… Read More »
A recent press report said that top bankers have told the Reserve Bank of India that it was time to take a break from its monetary tightening cycle. Reports said that the bankers told the RBI at the pre-monetary policy review consultation meeting that its hike in short-term interest to control inflation has muted credit… Read More »
A recent press report said that Indian Overseas Bank has planned to come up with yet another branch in Bangkok, Thailand. Mr. M. Narendra chairman and managing director of the bank told the press about the bank’s plan to open another branches. Mr. Narendra, regarding the issue said that the bank has applied to the… Read More »
A recent press report said that Bajaj Finance Limited, a non-banking financial company (NBFC), has launched a co-branded credit card with Standard Chartered Bank. The company has initially planned to focus on captive clients. It has planned to issue 150,000-200,000 cards within 12 months of starting operations. Reports said that the company has planned to… Read More »
According to a recent press report the Reserve Bank of India, banking and monetary regulator of the country has penalized a Gujarat based cooperative bank on grounds of non adherence to its directives. The regulator has fined Mansa Nagarik Sahakari Bank Ltd (MNSBL). The apex bank issued the penalty on the bank on charges of… Read More »
A recent press report has said that Allahabad Bank has now teamed up with Aditya Birla Money (ABM), the wealth management arm of Aditya Birla Financial Services Group (ABFSG), in order to offer online trading facilities to customers. Now the bank expects to offer its customers the convenience of investing in various financial products online.… Read More »
A recent press report stated that the US mortgage bankers who attended a conference in Chicago have encountered the anger of the consumer on account of the poor financial system that caused protest rallies throughout the country. In the Mortgage Bankers’ Association’s annual conference in Chicago, the attendees of felt that their industry was being… Read More »
A recent press report from SBI said that the unappealing returns and moderation in growth has made the bank to postpone the plans of raising funds overseas. The country’s largest lender had planned to raise funds amounting to $1 billion by means of medium-term notes. But, it has been deferred on account of lack in… Read More »
A recent press report said that the Reserve Bank of India would not give up hiking the interest rates until the inflation comes down to the desirable limit. According to Dr. D.Subbarao, the Governor of the RBI, the poor people are being affected by the inflation. Hence, until the inflation rate comes down the interest… Read More »
As per a recent press report, the Muthoot Exchange which is an extended subsidiary of Muthoot Group has entered into a remittance agreement with Mercantile Bank Limited operating in Bangladesh. Muthoot Exchange has been into the business of money transfer in Dubai for the past two years. There is a large population of Bangladeshi in… Read More »