A recent press report said that Corporation Bank has sought about Rs 300 crore from the Central Government to augment its future credit growth, and hopes to get the funding by the fiscal-end. Mr. Ramnath Pradeep, Chairman and Managing Director, Corporation Bank, told the press that the bank might need some support from the Government… Read More »
The Reserve Bank of India has imposed a monetary penalty of Rs.1.00 lakh (Rupees one lakh only) on Uma Co-operative Bank Limited Vadodara (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for non-adherence to Know Your Customer (KYC)… Read More »
The US stock and commodity markets crashed by almost 10% during the last week with a 5% drop happening yesterday. Indian markets have also dropped by over 1200 points (Sensex) in less than 10 days. What lies ahead?
A recent press report said that Syndicate Bank has set up two loan processing centres for the small and medium enterprise (SME) segment on a pilot basis. The SME loan processing centres will be located at Bangalore and New Delhi. Reports said that the bank has planned to set up SME loan processing units at… Read More »
A recent press report said that the Finance Minister, Mr. Pranab Mukherjee, will undertake a zone-wise performance review of various public sector banks (PSBs) due to the slowdown in credit off take and the rising trend of loans going bad. Reports said that the process is to begin on September 17, with Mr. Mukherjee having… Read More »
According to a recent press report National Collateral Management Services, one of the major agriculture-infrastructure players, and L&T Finance has entered into a strategic partnership to assist industries, traders and farmers with working capital requirements at all stages of the supply chain. Mr Dinanath Dubhashi, CEO, L&T Finance, said the tie up will facilitate farmers… Read More »
A recent press report said that the country’s largest private sector bank, ICICI Bank, has opened its second retail branch in Singapore. Reports said that the branch will provide savings and transaction banking solutions for meeting local needs through fixed deposits, savings and current accounts. Reports also said that the bank’s call and remit facility… Read More »
A recent press report said that HDFC has opened its first branch in Katra, Jammu & Kashmir. With this, the Bank has opened a second branch in J&K this month and remains on track to set up 50 branches by year-end. The branch, which was inaugurated by Governor J&K, N.N. Vohra, who is also the… Read More »
Corporation Bank inaugurated its new zonal office premises at Thane on Saturday. With a view to make branches more exclusive, the bank recently created 12 new zones across the country, taking the total number of zones to 31, a bank release here said. The Thane Zone, which has been carved out of the existing branches… Read More »
A recent press report said that Bank of Baroda has hiked deposit rates in select maturities by 25-50 basis points with immediate effect. The bank has hiked the interest rate on deposits less than crore having maturity of one year to three years has been hiked to 9.25 per cent from 9 per cent. It… Read More »