A recent report said that State Bank of India (SBI) has planned to raise overseas debt of $5 billion this fiscal through the medium term note (MTN) route. Mr. Pratip Chaudhuri, Chairman, SBI, said that the timing and the number of tranches for the fund-raising will be based mainly on the on credit growth in… Read More »
A recent report from the RBI said that the regulator has imposed a penalty of Rs 5 lakh on city-based Kalupur Commercial Co-operative Bank (KCCB) for its non-adherence to mandatory banking rules. Reports said that a penalty of Rs 5 lakh has been imposed on KCCB for violation related to Know Your Customer (KYC) norms,… Read More »
A recent press report said that Punjab National Bank acquired a 30% stake in the Indian arm of the biggest US life insurer MetLife at an undisclosed amount. The bank recently announced a marginal rise of 3.4% in its net profit at Rs 1,105 crore in the first quarter of the current financial year due… Read More »
A recent report said that the country’s second largest lender Punjab National Bank (PNB) has raised both its lending and deposit rates by up to 75 basis points after the rate revision by the RBI. Reports said that the base rate or the minimum lending rate has been increased by 75 basis points to 10.75… Read More »
A recent press report said that Lakshmi Vilas Bank has introduced Visa Debit Gold Card for its premier customers. Mr. Somasundaram, Chief Executive of the bank said that the bank has issued around 3.75 lakh cards. He said that the bank is expecting at least a-third of its card holders to opt for the Visa… Read More »
A recent press report said that Karur Vysya Bank has reported an increase of 38 % net profit. The bank’s net profit has gone up to Rs. 116.70 crore against Rs 84.48 crore during the corresponding quarter of the earlier fiscal. Mr. K. Venkataraman, Chief Executive and Managing Director, of the bank said that the… Read More »
A recent press report said that IDBI Bank has reported 34 per cent rise in net profit to Rs. 335 crore on higher interest income and interest margin. The bank has planned to restrain credit growth in coming quarters as the lender wants to bring down stressed assets and improve the over all asset quality.… Read More »
A recent press report said that the Export-Import Bank of India (Exim Bank) has entered into an agreement with Swaziland for extending a USD 20 soft loan to finance exports and consultancy services for setting up an Information Technology Park in the African nation. Reports from the Reserve Bank said that the Line of Credit… Read More »
The Mysore Merchants Co-Operative Bank Limited is a trendsetter Bank in Karnataka which serves its customers all the 365 days of the year. The Mysore Merchants Co-operative Bank Limited was converted to a bank on 29-06-1962. The main object of the Bank at that time was to protect the businessman from the exploitation of the… Read More »
The Mysore Merchants Co-Operative Bank Limited is a trendsetter Bank in Karnataka which serves its customers all the 365 days of the year. The Mysore Merchants Co-operative Bank Limited was converted to a bank on 29-06-1962. The main object of the Bank at that time was to protect the businessman from the exploitation of the… Read More »