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 »
A recent press report said that Bandhan Financial Services, which has just received 135-crore equity capital from International Finance Corporation, said that that it will apply for banking licence as soon as the Reserve Bank of India finalizes the guidelines for new banks. Reports said that the fresh equity from IFC has improved Bandhan’s net… Read More »
A recent press report said that Allahabad Bank has entered into an agreement with Tata BP Solar for the implementation of ‘capital subsidy cum refinance scheme for installation of solar off-grid (photo voltaic and thermal) and decentralization applications’ under the Jawaharlal Nehru National Solar Mission announced by the Ministry of New and Renewable Energy. According… Read More »
A recent press report said that National Housing Bank seems to be in agreement with the stance taken by Reserve Bank of India that prepayment penalty on floating rate home loans be removed. Reports said that NHB was planning to soon come up with directives which will instruct housing finance companies (HFCs) to give up… Read More »
A recent press report said that Prime Minister Mr.Manmohan Singh’s government is pushing state-run banks to give out up to Rs.10,000 in unsecured loans to landless laborers to boost consumption in rural areas, which bankers say reminds one of ‘loan melas’ of the 1980s that crippled the banking industry. Reports also said that Public sector… Read More »
A recent press report said that Karnataka Vikas Grameena Bank (KVG Bank), a Dharwad-based regional rural bank, through its new ‘Reaching towards Framers’ scheme, has covered around 7,000 new farmers. Reports said that the Chairman of the bank, Mr. C. Sambasiva Reddy, who inaugurated the bank’s stall at ‘Krishi Mela’. At the inauguration ceremony he… Read More »
A recent press report said that Indian Overseas Bank has decided to increase the repayment period for borrowers in the retail sector. The bank’s decision has been announced following directions from the Union Ministry of Finance to help borrowers in retail and MSME (micro, small and medium enterprises) segments to tide over the problem of… Read More »