A recent press report said that the country’s largest lender the State Bank of India, which has witnessed huge erosion in its net profit, has set up 14 account tracking centres to check non-performing assets. Ms. Namo Narain Meena, minister of state for finance, said at the Rajya Sabha that the State Bank of India… Read More »
Krishna Grameena Bank (KGB) is a Regional Rural Bank established in terms of provisions of Regional Rural Banks Act 1976 & is sponsored by State Bank of India. The shareholders of the Bank are Government of India (50%), State Bank of India (35%) and Government of Karnataka (15 %). The Bank is established on 01-12-1978.… Read More »
The Reserve Bank of India has asked banks to obtain board resolutions from companies on their risk management policy before offering derivatives products. The RBI said that banks should not undertake derivative transactions with, or sell structured products to, users who do not have properly documented policies regarding management of risks that include, among other… Read More »
A recent press report said that the Governor of the Reserve Bank of India, Dr Subbarao, and the Deputy Governor, Dr K.C. Chakraborty, held a meeting with top bankers in the State to review the pace of financial inclusion implementation in Karnataka. According to a top official of a Bangalore-based public sector bank, the RBI… Read More »
When you pay the premium for this plan, part of the premium amount goes towards paying for the life cover. Remaining part of the premium is invested in various instruments either debt or equities. However this portion is quite small, as the insurance companies tend to deduct premium allocation charges upfront. These charges are meant… Read More »
It is widely reported that classic car insurance is far cheaper than a modern car policy but it is important to be vigilant and well informed. Also, it is important to understand that the condition and scarcity of classic car insurance can vary dramatically, and an owner’s perception as to the value of his beloved… Read More »
Big- Cash is a personal loan offered by the bank to meet unforeseen expenses like marriage, education, social obligation. Purpose – To offer financial assistance to meet unforeseen expenses like marriage, education, social obligation Quantum of Loan – 90% of proposed expenditure with maximum ceiling of Rs. 2.00 lakh Upper ceiling may be waved in… Read More »
A recent press report said that Lakshmi Vilas Bank has registered a 30 per cent growth in its operating profit during the first quarter of the current fiscal compared to the corresponding quarter of the earlier fiscal. The operating profit has gone up to Rs 69.70 crore from Rs 53.73 crore in Q1 of 2010-11.… Read More »
Krishna Grameena Bank (KGB) is a Regional Rural Bank established in terms of provisions of Regional Rural Banks Act 1976 & is sponsored by State Bank of India. The shareholders of the Bank are Government of India (50%), State Bank of India (35%) and Government of Karnataka (15 %). The Bank is established on 01-12-1978.… Read More »
A recent press report said that Private life insurer, IDBI Federal Life Insurance, has launched a unit-linked insurance product that offers, among other benefits, lump-sum cash of up to Rs 20 lakh to be paid upon diagnosis of any of the 17 specified major diseases. Reports said that the minimum premium amount for the product… Read More »