A recent press report said that the Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees five lakh only) on The Pioneer Urban Co-operative Bank Ltd., Belgaum, Karnataka, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949… Read More »
A recent press report said that the Government has appointed Mr. Harun Rashid Khan as Deputy Governor of Reserve Bank of India. Mr. Harun Rashid Khan fills the vacancy of superannuation of Ms. Shyamala Gopinath. The central bank traditionally has four Deputy Governors, with two of them being from the RBI and the other two… Read More »
A recent press report said that IndusInd Bank has posted a 52 per cent rise in net profit for the first quarter ended June 30, 2011. Net profit grew to Rs 180 crore, from Rs 118 crore in the corresponding quarter last year. Mr. Romesh Sobti, Managing Director and CEO, IndusInd Bank, said that the… Read More »
A recent press report said that HDFC Bank, has launched ‘Infinia’ cards for the uber-rich, high net worth community in India. Aditya Puri, managing director, HDFC Bank, told reporters at a press conference that the card has been positioned directly against Amex, and the company believes the card to be a better product. The card… Read More »
A recent press report said that Housing Development Finance Corporation Ltd (HDFC) has reported a healthy growth in loans to individuals and corporates and has recorded 22 per cent increase in its net profit in the April-June 2011 quarter. HDFC has posted a net profit of Rs 1,176 crore against Rs 967 crore in the… Read More »
A recent press report said that State Bank of India has planned to ramp up its ATM network by 8,000-10,000 every year over the next three years so as to cut down on long queues outside its ATMs in urban and semi-urban areas. The bank is looking at earning fee income from the other bank… Read More »
A recent press report said that State Bank of Travancore (SBT) has revised interest rates for domestic and NRO term deposits. In addition to that the bank has also updated the schedule by merging ‘time buckets’ of above one year and announced new rates. According to reports the new schedule comprises of four such buckets… Read More »
A recent press report said that Indian Overseas Bank has planned to raise Rs 1,200 crore of capital in the current financial year. Mr. M. Narendra, Chairman and Managing Director, of the bank said that the bank might go in for a public issue, rights issue or Qualified Institutional Placements in order to raise the… Read More »
A recent press report said that Public sector lender United Bank of India has hiked its lending rate by 25 basis points (bps), which has made auto loan, home loan and corporate loans more expensive. Reports said that the Bank has increased its Base Rate and Prime Lending Rate by 25 bps to 10.25 per… Read More »
A recent press report said that Barclays Plc has cut jobs in India due to the merging of the client relationship teams of its commercial and investment banking units. According to a email response of Barclays Capital, Clare Williams, a Hong Kong-based spokeswoman for Barclays, the company’s commercial banking division, are combining the teams that… Read More »