A recent press release from HDFC bank said that the bank, which is the country’s second largest private lender, has entered into a strategic alliance with Diners Club International to offer Diners Club premium credit cards to the country. According to the statement of the bank, HDFC which is already the country’s largest credit card… Read More »
A recent press report said that the Indian Infrastructure Finance Company would be under the regulations of the Reserve Bank of India. A proposal regarding this subject has been approved by the Union Cabinet. Regarding this Ms. Ambika Soni, Minister of Information and Broadcasting , had said that IIFCL would operate under the regulations of… Read More »
According to a recent press report, Indian overseas Bank has planned to establish another branch in Bangkok. According to Mr. M. Narendra, the Chairman and Managing Director of IOB, the bank has applied to the Reserve Bank of India for its consent to open one more branch in Bangkok. He added that the Thailand authorities… Read More »
A recent press report said that the plan of setting up automated teller machines (ATMs) by India Post was not allowed by the Reserve Bank India. As per norms of RBI only banks are allowed to set up ATMs and this made RBI to oppose the ATM set up plans proposed by India Post. According… Read More »
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 »