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 »
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 Muthoot Finance Limited has reserved 60 per cent of its Rs.500 crore non-convertible debenture issue for retail investors. As per the report, Muthoot Finance had been the largest gold loan NBFCs that lends money against jewellery and to attract the retail investors the company offers a higher coupon rate… Read More »
As per a latest report the Micro, Small and Medium Enterprises taking loans for modernization programmes can avail a back ended interest subsidy at the rate of 3%. Further the report stated that the Micro, Small and medium Enterprises Minister Mr.Virbhadra Singh has asked the Ministry of Finance to allocate funds towards the MSME schemes… 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 Manapuram Finance Limited expects a growth of 50-60% in gold loan sector during this fiscal. Mr.I.Unnikrishnan said that the bank has no plans to raise the equity capital this fiscal. The company has a paid-up capital of Rs.160 crore. He also said that MFL expects a disbursement to grow… Read More »