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 »
A recent press report said that HDFC Mutual Fund, one of the leading Mutual Fund House in India, and Shamrao Vithal Bank (“SVB”), one of the largest co-operative banks in India, have announced that they have entered into an alliance to offer the entire bouquet of HDFC Mutual Fund’s schemes through the bank’s 105 branches… Read More »
A recent press report said that Corporation Bank has launched its second zonal office in Bangalore. The bank has recently created 12 new zones across the country, taking the total number to 31. Reports said that the Bangalore North Zone will now control 52 branches, including 13 urban centers, 74 ATMs and 204 branchless banking… Read More »
A recent press report said that Corporation Bank has planned to grow its total business to Rs. 5 lakh crore by 2014-15, against Rs 2 lakh crore, according to Chairman and Managing Director Mr. Ramnath Pradeep. Reports said that the bank has planned to open 200 branches every year, with each branch growing its business… Read More »