A recent press report said that Corporation Bank has received the first prize under the ‘National Award for Excellence in Lending to Micro Enterprises’ for 2010-11 from the Union Ministry of Micro, Small and Medium Enterprises. Reports said that the award was presented by the President, Ms Pratibha Devisingh Patil, in New Delhi. The award… Read More »
A recent press report said that Punjab National Bank (PNB) has bagged two awards in recognition of its services to the micro, small and medium enterprises (MSME) sector. One award was for excellence in lending under the Prime Minister’s Employment Generation Programme (PMEGP) in the North Zone and the other award, is for excellence in lending under the… Read More »
A recent press report said that Bank of Maharashtra (BoM) has planned to offload its entire mass of bulk deposits of Rs 9,000 crore by March next year in order to control cost and preserve margin. Mr. Anup Sankar Bhattacharya, Chairman and managing director of the bank said that banks are facing rising cost of… Read More »
A recent press report said that Shri Suresh Kumar Jain has assumed charge as the Executive Director of Union Bank of India on 1st September 2011. He is a Gold Medalist in College and University with B.Sc (Hons.) & M.A. (Economics); He has been a professional Banker for over 33 years. He has worked in… Read More »
A recent press report said that the country’s biggest lender State Bank of India has ruled out relaunching a dual rate scheme for home loans. Reports said that its competitors ICICI Bank and HDFC have come up with a similar scheme to grow businesses. RBI defines teaser loan schemes as those offered at a low… Read More »
The country’s largest private sector bank, ICICI Bank, opened its second retail branch in Singapore. Reports said that the branch is to offer savings and transaction banking solutions for meeting local needs through fixed deposits, savings and current accounts. Reports also said that bank has offered its customers, ICICI Bank’s call and remit facility giving… Read More »
A recent press report said that IDBI bank has won awards in two categories namely, the overall best bank in India and the best public sector bank in India. The bank’s chairman and managing director R.M. Malla received the awards. Mr. Malla said that the awards have been made possible due to the passionate hard… Read More »
In recent times, whenever the monetary policy is to be announced, one sector which pays a close heed to it, is the real estate sector, hoping that the announcement comes in its favor. However, like the last 10 times, this time too, when the policy was announced, it bought no cheers to the sector. The… Read More »
The RBI has continued its upward interest rate revision policy of the past one year by yet again hiking the interest rates by 50 Basis points. The new REPO rates are 8% and the corresponding reverse repo rate (1% lesser than repo rates) is 7%. This in effect will mean that things are going… Read More »
No income tax return will be accepted without the PAN and incorrect PAN can result in a fine being levied. Communication address should be correctly stated as all notices or other communication from the IT department will be sent to the provided address. Also make sure that the MICR code is correct if you want… Read More »