As per a recent press report it is seen that decelerating credit demand, increased provision for bad debts and low margins due to tight monetary policies are likely to affect the bank profits of September quarter to fall. The weakening investment environment has caused serious impact in credit growth and reports said that this movement… Read More »
A recent press report said that Axis Bank has announced the launch of ‘NISHCHINT’ a lifetime ‘Fixed Interest Home Loan Scheme’ which offers home buyers housing loans at a fixed rate of 11.75% p.a. for the entire duration of the loan. The duration of the loan is fixed as 20 years. Mr. R. K. Bammi,… Read More »
According to a recent press report the revised education loan scheme implemented on all banks will make disbursal based on the repayment potential of the borrower. The education loans are not going to be offered based on the parental income or family wealth of the borrower which will be the decisive factor. Reports said that… Read More »
According to a recent press release it is seen that the Ministry of Commerce and Industry has been taking more efforts to offer dollar credits to the exporters. The inter-ministerial committee on dollar credit, formed in 2009 which comprises of the Reserve Bank of India, the Ministry of Commerce, Ministry of Finance and representatives from… Read More »
A recent press report said that banks have offered discounts on home loans for the festival season in the country. The special offers announced by the banks include dual rate scheme, Discount on processing fee, Concessions on loan, Progressive monthly installment scheme, fixed rate scheme etc. As per the dual rate scheme, the interest rate… Read More »
According to a recent press report, the Cholamandalam MS General Insurance has said that its promoters have invested an additional capital of Rs.50 crore for the growth of the company. Cholamandalam MS General Insurance Company is a joint venture between Murugappa Group and Japan – based Mitsui Sumitomo Insurance Group. A recent report from the… Read More »
A recent press report said that Bank of India (New Zealand), a wholly-owned subsidiary of Bank of India was launched in New Zealand. The subsidiary was inaugurated by Dr. Alan Bollard, Governor, Reserve Bank of New Zealand. Mr. Alok Misra, Chairman and Managing Director of the bank said that the bank has planned to offer… Read More »
A recent press report has said that private sector lender Catholic Syrian Bank has set up the first biometric ATM from its side. The ATM has been set at a village called Ozhur in Malappuram district of Kerala. Reports said that the installation of the biometric ATM has come up as a step ahead towards… Read More »
A recent press report said that the most banks have set up thorough systems, including reports from credit information bureaus in order to determine the repayment capacity of a borrower. The system has been set up due to the solid rise in bad loans during the last few months. Reports said that borrowers with a… Read More »
A recent press report said that the RBI has asked banks to implement various safety measures related to credit card and debit card usage over a period of next two years in order to minimize fraud cases and ensure security of transactions. Reports said that the RBI has asked banks to strengthen the existing payment… Read More »