A recent press report said that Self-help groups (SHGs) across the country will henceforth get loan at 7 per cent on a par with the crop loans. Mr. Jairam Ramesh, Minister of State for Environment and Forests, said that microfinance has unfortunately become a dirty word now largely due to extreme commercialization by some MFIs,… Read More »
A recent press report said that State Bank of India has appointed a deputy managing director to focus exclusively on non-performing assets (NPAs) on account of the bad loan going up by Rs 5,791 crore in FY11. The bank’s NPA stood at Rs 25,326 crore as of March-end 2011, against Rs 19,535 crore as of… Read More »
A recent press report said that the existing and prospective Savings Bank (SB) account customers of State Bank of Hyderabad (SBH) will enjoy a free personal accident insurance cover. Ms. Renu Challu, Managing Director, SBH, told the press that a cover of Rs 1 lakh would be extended to over 60 lakh existing customers and… Read More »
A recent press report said that Indian Overseas Bank has launched premium credit cards, targeting elite customers in association with American Express. Mr. M. Narendra, Chairman and Managing Director of the bank told the press that IOB and American Express would jointly promote the cards that would feature logos of both the companies. He added… Read More »
A recent press report said that Indian Overseas Bank has roped in Ernst and Young as a consultant to provide advice on spinning-off the bank’s IT division into a software subsidiary. Ernst and Young will act as a consultant with the valuation of the subsidiary and also help patent the bank’s core banking software. Unlike… Read More »
A recent press report said that Indian Bank has topped the list among the PSU banks by recording highest returns on assets for the financial year ended March, 2011. Indian Bank has recorded a Return on Assets (RoA) of 1.53 per cent for 2010-11, which is the highest among 21 public sector banks. The lowest… Read More »
A recent press report said that India was a profitable market for foreign banks in the last year. Reports said Citibank India has announced a 78 per cent increase in profit after tax to Rs 1,859 crore for 2010-11 from Rs 1,046 crore in 2009-10. Standard Chartered India had reported a profit before tax of… Read More »
A recent press report said that private lender Dhanlaxmi Bank has planned to enter into new segments to boost its non-interest income at a time when rising and falling interest rates makes it difficult to protect margins. The bank has planned to enter into retail gold sales segment and forex cards in FY12 to boost… Read More »
A recent press report said that Deutsche Bank’s India branches has posted a profit after tax of Rs 630 crore for the year ended March 31, 2011, an increase of 41 per cent over the Rs 446 crore in 2009-10 fiscal. According to a press release the total income increased 19 per cent to Rs… Read More »
A recent press release said that Saraswat Bank has tied up with Reliance ADAG under which the Anil Ambani-led group will market a core banking solution developed by the bank’s InfoTech subsidiary. Mr.Eknath Thakur, Chairman, Sarwat Bank told the press that, the bank will sell its core banking software, ‘Swift Core’, to banks using ADAG’s… Read More »