A recent press report said that State bank of India has planned to open an Australian subsidiary within a year to meet the large retail market from Indians migrating to that country. Mr. Pratip Chaudhuri, Chairman of the bank, said that the cost of setting up a subsidiary at Australia will be around $75 million.… Read More »
A recent press report said that state Bank of India the country’s largest lender has violated the Reserve Bank of India’s credit exposure norms during three consecutive years with regard to its loan provided to Mukesh Ambani-led Reliance Industries. The bank is already facing such problems with Air India and other telecom firms that are… Read More »
A recent press report said that the RBI has sets up Central Registry in order to prevent property loan frauds. The records maintained by the by the Central Registry will be available for search by any lender or any other person interested in dealing with the property. It is believed that the availability of such… Read More »
According to recent press reports, Dr. Prakash Bakshi has been appointed as s the new chairman of the National Bank for Agriculture and Rural Development by the Government of India. NABARD is set up as a top Development Bank in order to help credit flow for promotion and development of agriculture, small-scale industries, cottage and… Read More »
A recent press report said that LIC has introduced a new health policy that covers your parents’ in-law in heath insurance, apart from your parents. The name of the scheme is ‘Jeevan Arogya’, which offers comprehensive hospitalisation benefits for the whole family, including in-laws of the principal insured. The features of the policy are very… Read More »
A recent press report said that foreign loans have suddenly become very attractive scheme for Indian corporate due to the interest rate differential and a sharp drop in hedging costs. Top Indian corporate can now raise fully hedged foreign loans at 100 to 200 basis points below domestic loans. This arbitrage opportunity has led to… Read More »
According to a recent press repots loans against bank fixed deposits are gaining traction. As per the data released by the RBI, these loans jumped by about 25 per cent in April 2011, against about 3 per cent in April 2010. The loans against bank deposits went up by Rs 11,966 crore between April 23,… Read More »
A recent press report said that ING Vysya Bank, the private lender has planned to raise funds by issuing up to 28 million equity shares to the promoters and qualified institutional players. The bank has not yet mentioned about the amount that is to be raised from the proposed offers. Reports said that with reference… Read More »
A recent report from the S&P said that the Indian banking sector is likely to face pressure on margins in the current fiscal, in spite of the expectations in the improvement of asset quality will improve, said Standard & Poor’s Rating Services. The average gross non-performing loan of Indian banks are expected to improve from… Read More »
According to recent press reports, Corporation Bank, has launched a new loan-linked savings bank account called ‘Corp Mahila Power’. The scheme was launched by Mr. Ramnath Pradeep, Chairman and Managing Director of the bank, at the 12th Commonwealth-India Small Business Competitiveness Development Program in Bangalore. The release said that ‘Corp Mahila Power’ was designed for… Read More »