A recent press report said that the Reserve Bank of India has RBI raised its repo rate by 0.25 percentage points to 8.25 per cent and the reverse repo rate to 7.25 per cent. Policy rates are up by a cumulative 350 basis points since March 2010. Reports said that the hike is due to… 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 »
A recent press report said that Punjab National Bank is in the process of hiring 3,000 officers and 6,000 clerks. Mr.KR Kamath, chairman and managing director, of the Punjab National Bank said that the bank has started the hiring procedure but the process has chances of spilling over to next year He said that the… Read More »
According to a recent press report said that the finance ministry, in an attempt to extend the reach of banks in rural and semi-urban areas, has asked public sector banks to integrate their operations with regional rural banks (RRBs). A finance ministry official said that the charges for various banking services used by customers of… Read More »
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 »