According to a recent press report, the Union Bank has promoted seven Deputy General Managers to General Managers. These promotions were made to fill in the gaps that were created at the middle management level due to slew of retirements at the General Manager level. Those who have been promoted include: Mr A. K.T hakur,… Read More »
A recent press report said that the Reserve Bank of India went ahead with a large 50 basis point hike in its policy rate despite majority of its technical advisory committee pitching either for a pause or a nominal 25 basis points increase in the repo rate. As per the report, most of the members… Read More »
A recent press report said that most banks in India are either delaying their decision to announce special schemes for festival season due to uncertainty in interest rates or have decided against offering interest subsidy on such schemes. This situation has caused disappointment amidst the customers sitting on the fence towards the big attraction. Further… Read More »
A recent press report said that the Small Industries Development Bank of India is planning to gradually increasing its quantum of finance to micro lenders. The report also said that institution plans to disburse about Rs.1000 crore to MFIs in the current financial year while it was Rs.940 crore last year. The report further said… Read More »
In terms of Notification F.No.1/26/2005-RRB dated 27.01.2006 issued by Government of India u/s 23A of RRB Act,1976, Jaipur Nagaur Aanchalik Gramin Bank and Thar Aanchalik Gramin Bank, both sponsored by UCO Bank and operating in the state of Rajasthan, have been amalgamated to form a new Bank, namely JAIPUR THAR GRAMIN BANK. Jaipur Thar Gramin… Read More »
A recent press report said that the focus of SBIs on core business is not enough to shore up the profits in Quarter 1. The report stated that even though the core business is improving significantly, higher investment depreciation, low income from sale of investments, providing for improving the provision-coverage, incremental slippages and provisioning for… Read More »
As per a recent press report, SBI mutual fund has launched a new fund offer, SBI Gold fund which is an open ended fund of fund scheme to enable investors to invest systematically in gold and gain advantage of the recent rally in the metals prices. Further the capital or the corpus collected through the… Read More »
A recent press report said that SBI is not considering sponsoring an infrastructure debt fund (IDF) which is a new vehicle to enhance the flow of long-term debt for funding infrastructure development promoted in Budget 2011-2012. Mr.Pratip Chaudhuri, Chairman said that the Bank is not considering it because already on the infrastructure side, the… Read More »
A recent press report said that a committee has been set up look into the issues relating to software exports and the committee will come up with the recommendations by September end. Mr. G. Padmanabhan, Executive Director, Reserve Bank of India said that the committee will come out with viable solutions that will make things… Read More »
As per a recent press report, Peerless general finance and investment company ltd has sought for a special dispensation of the Reserve Bank of India to allow it to continue its residual Non-Banking Company business for some more time. Mr.S.K.Roy, Managing Director, Peerless said that the financial products distribution business had suffered a setback due… Read More »