A recent press report said that the Reserve Bank of India has allowed banks time till end of December to reduce their investment in liquid or short-term debt mutual funds, where it is exceeding the limit of 10 per cent of the net worth. A notification from the RBI said that banks which have investments… Read More »
The Almora Urban Co-operative Bank is a fast Growing Bank. The Minimum standards decided by the Reserve Bank of India for Urban Co-operative Banks to become viable were fulfilled in just Six months after establishment of the Bank. Number of Members, Share Capital, Deposit and working capital are increasing day By day. Bank does not borrow… Read More »
The Almora Urban Co-operative Bank is a fast Growing Bank. The Minimum standards decided by the Reserve Bank of India for Urban Co-operative Banks to become viable were fulfilled in just Six months after establishment of the Bank. Number of Members, Share Capital, Deposit and working capital are increasing day By day. Bank does not… Read More »
According to a recent press report the Reserve Bank has imposed a penalty of Rs ten lakh on the Gandhinagar Nagrik Cooperative Bank Ltd for violation of certain banking norms. The regulator has imposed a monetary penalty of Rs one lakh on the bank for violations of allowing interest rebate in loan accounts of directors… Read More »
A recent press report said that UCO Bank has launched its small and medium enterprises (SME) loan hub in Bangalore in its bid to increase lending to the sector. Mr. Arun Kaul, chairman and managing director of UCO Bank said that the bank has been a pioneer in arranging credit for priority sector and has… Read More »
A recent press report said that UCO bank has planned to more than double its total business to Rs 6 lakh crore by FY16 through customer acquisition and network expansion. Mr.R.K. Agrawal, its field General Manager of the bank said that the bank’s total business stands at Rs 2.45 lakh crore and that the bank wants… Read More »
A recent press report said that UCO Bank plans to increase its business by Rs 1 lakh crore to Rs 3.5 lakh crore by March 2013 by getting existing branches to do more business and by increasing its number of branches. The bank currently has 2,239 branches, and it has planned to increase it by… Read More »
A recent press report said that IndusInd Bank has entered into a memorandum of understanding (MoU) with the Indian Army in order to provide a whole gamut of banking and wealth management products to all the cadres of the Army. Reports said that IndusInd Bank is the seventh bank to enter into a tie-up with… Read More »
A recent press report said that State Bank of Mysore’s has reported a fall in its net profit by 42 per cent to Rs 64.28 crore for the quarter ended June 30, 2011. Reports said that the fall in its profit was due to the increased provisioning. The bank’s net interest income also fell marginally… Read More »
A recent press report said that Shriram City Union Finance has planned to raise Rs 400 crore by way of private equity, qualified institutional placement (QIP) or the stock market with a follow-on issue. Ms. Subhasri Sriram, Executive Director, Shriram City Union Finance, said that the company would require capital during the last quarter of… Read More »