A recent press report said that Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited has launched a traditional group protection-cum-savings product called Smart Sanchay Plan. Smart Sanchay Plan offers life cover and accident protection along with fixed returns. Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd is a joint venture between… Read More »
A recent press report said that Canara Bank has tied up with Canara HSBC Oriental Bank of Commerce Life Insurance Company for a micro-insurance product. This will be offered on the smart cards that it provides in its financial inclusion initiative. At a premium of Rs 100, the insurance will offer a cover of Rs… Read More »
A recent press report said that private sector lender Axis Bank has planned to increase its lending process to micro finance institutions (MFIs). The bank is also looking towards the idea of direct lending to self help groups (SHGs). Ms. Shikha Sharma, CEO and MD of the bank said that the bank’s slowdown on lending… Read More »
A recent press report said that Axis Bank, India’s third largest private Bank, has tied up with Malayan Banking Berhad (Maybank), Malaysia, for remitting money from Malaysia to beneficiary accounts in India. The bank has signed an agreement with Maybank for offering remittance facility to India, under Maybank Money Express (MME) service. According to reports… Read More »
A recent press report said that Vijaya Bank has begun the process of increasing loan repayment periods in order to help retail borrowers come out of the possible financial stress following the increase in interest rates in the recent months. The banks retail portfolio includes home loan, mortgage loan, personal loans, vehicle loans, Vijay professional… Read More »
There is a lot of buzz being generated all over the world over the debt-ceiling issue of the US of A. No day goes without a front-page article on the issue. This article tries to give you a basic understanding of the whole issue and gives insights into the Indian scenario too.
A recent press report said that State Bank of India has adopted a scheme called Community Services Banking under which, SBI Branch Manager Mr. Porompat S. Nikunchand Singh, presented one steel Almirah to the authority of the Kiyamgei Ideal High school during a simple function held recently at the school premises. Mr. S Nikulchand, said… Read More »
According to a recent press report the government has reported that provisioning against the non-performing assets (NPAs) of State Bank of India (SBI) has increased more than three-fold to Rs 8,792 crore in 2010-11 from Rs 2,474 crore in 2008-09 due to a rise in bad debt. Mr. Pranab Mukherjee, Finance Minister said that the… Read More »
Nifty and Sensex went up the hill, they took along the NASDAQ and Hang-seng too, then Greece and Obama’s problems started and they all came tumbling down! Ironical, but the Jack and Jill poem seems to hold true for what’s happening in the financial markets around the world. Every market seems to be tumbling… Read More »
A recent press report said that the Reserve Bank of India has asked select old generation private sector banks to improve governance standards Reports said that the RBI has asked banks to improve governance structure to make sure that there is minimum intervention of the board in the day-to-day operation. It also said that the… Read More »