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 »
As per the recent press release from the Development Credit Bank it is seen that the net profit of DCB has grown to Rs.13 crore for the quarter ended September 30, 2011 compared to the corresponding period last year which was Rs.5 crore. This was because of the good growth in advances and less provisions… Read More »
A recent press report said that the RBI has penalised 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 the Government has decided to introduce the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2001, during the Winter Session of Parliament. According to the new Bill, it will modify nine sections of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI)… Read More »
A recent press report said that private sector lender YES Bank has planned to give a big booster to its retail banking operations. The bank has planned to add several new products to its retail portfolio in order to enhance its offerings to the customer. Amongst the new product lines to be introduced include Loan… Read More »
A recent press report said that Public sector lender Canara Bank has set up a wholesale branch in Bahrain. The branch will offer services to the Indian corporations operating in the gulf region. The corporates will be offered a wide variety of products and services through the bank’s new branch. Reports said that through this… Read More »
A recent press report said that Public sector lender UCO Bank has announced the appointment of Mr. R Chandrasekharan as the new executive director for the bank. Mr. R Chandrasekharan has a banking experience of about 35 years; he has worked across different segments of banking operations. He started his career as probationary officer of… Read More »