A recent press report said that State Bank of India and ICICI Bank have raised their lending rates, the second time in the last one month. Reports said that SBI has increased its base rate and benchmark prime lending rate (BPLR) by 50 basis points each to 10 per cent from 9.50 per cent and… Read More »
A recent press report said that State Bank of India is not looking to sponsor an infrastructure debt fund (IDF), a new vehicle that was mooted in Budget 2011-12 to enhance the flow of long-term debt for funding infrastructure development. Mr. Pratip Chaudhuri, SBI Chairman, told the press that the bank was not planning to… Read More »
A recent press report said that the Institute for Development and Research in Banking Technology, Hyderabad, has identified Karur Vysya Bank for the Banking Technology Excellence Award 2010-11, mobile banking category. KVB’s Managing Director and Chief Executive, Mr. K. Venkataraman, received the award from the Deputy Governor of the Reserve Bank of India, Mr. Anand… Read More »
A recent press report said that Indian Overseas Bank (IOB) is negotiating with the Government for capital funding to the tune of Rs. 1,400 crore in the current year. Mr. M. Narendra, Chairman and Managing Director, IOB said that the bank had received capital infusion of Rs 1,054 crore from the Government in March this… Read More »
A recent press report said that the proposed India International Bank (Malaysia), which is a trio joint venture between Bank of Baroda (BoB), Indian Overseas Bank (IOB) and Andhra Bank, will have a paid-up capital of $100 million. Reports said that Bank of Baroda holds the majority stake at 40 per cent and it will… Read More »
According to a recent press report, ICICI Bank has sold its entire 16.9 per cent stake in Stock Holding Corporation of India (SHCIL) to Industrial Finance Corporation of India Ltd (IFCI) at Rs. 818 a share. This makes IFCI the biggest shareholder in SHCIL. Reports said that the IFCI’s stake in SHCIL has increased to… Read More »
A recent press report said that Lakshmi Vilas Bank has effected a downward revision in its domestic term deposit rates across select maturity periods, starting August 1. Reports said that the bank sources have maintained that this downward revision in the short-term deposit rates (of one year and below) has been made purely from an… Read More »
According to a recent press report, Mr. Anand Sinha, Deputy Governor, Reserve Bank of India has said that the transaction costs of financial services to the poor are ‘exceedingly large’ in comparison to their revenue generation potential in the short term. Mr. Sinha said the existing banking business model was not able to adequately address… Read More »
According to a recent press report a study by Assocham has reported that the proportion of bad loans or non-performing assets (NPAs) to total loans of 11 listed banks for the year ending March 2010 stood at 2.21 per cent compared with 15 per cent in the late 1990s. Reports said that there was renewed… Read More »
The bank offers the loan to farmers to make the small and marginal holdings economically viable, bring fallow lands and waste lands under cultivation, to step up agricultural production and productivity and to finance the share croppers /tenant farmers to purchase land to enable them to increase their income Purpose – The objective of this… Read More »