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 »
A recent press report said that the loans from housing finance groups are expected to become dearer in the future. Mr. R. V. Verma, Chairman and Managing Director, National Housing Bank told the press that the will be effects on the demand for home loan will be effected due to the growing interest rates and… Read More »
According to a recent press report Citigroup Inc told the press that computer hackers have violated the e bank’s network and accessed data on hundreds of thousands of bank card holders in the latest of a string of cyber attacks on high-profile companies. Citigroup said that about one percent of its card customers were affected… Read More »
Recent press reports said that the bank loans have recorded a year-on-year growth of 22.5% with the outstanding bank credit touching Rs 39.57 lakh crore from Rs 32.32 lakh crore during the same period a year ago. Reports also said that the deposit rates have also gone up along with the increase in loans. The… Read More »
A recent press report said that the state-run Allahabad Bank has planned to achieve a business growth of 24 per cent during the current financial year 2011-12. Mr. J.P Dua, chairman and managing director of the bank said that the bank has projected a business level of around Rs.2, 80,000 crore as in March 2012.… Read More »
There is always a direct relation between prices of certain commodities and inflation. Let’s take the price of oil. This and inflation are connected in a cause and effect relationship. As oil prices move up or down, inflation follows in the same direction. The reason why this happens is that oil is a major input… Read More »
Prepayment implies closing the loan earlier than planned. Most banks impose a penalty on prepayment. However, very recently SBI has announced that it will be dropping prepayment charges on its loans. This announcement came the next day after it hiked its base rate by 0.25%. It also withdrew its teaser loan schemes along with this… Read More »
The RBI recently announced its annual policy for 2011-12. NDTL, MSF, LAF, and so on and so forth, the document has a lot of financial jargon. So what do the policies of the RBI with respect to these jargons mean in real life terms to a common man’s day to day life… Read on to… Read More »
Indraprastha Sehkari Bank Limited came into existence on 01.10.1989 with one office in Delhi, with a paid up capital of just Rs. 15, 62,900 and 2666 members because of constant efforts made by Late Shri. Tara Chand, an eminent Co-operator who was also the founder of Delhi Nagrik Sehkari Bank Limited, Delhi. The bank is… Read More »
The third (Tritiya) day of the Hindu calendar’s Vaishaka month which falls in late April or early May every year is called Akshaya Tritiya. The Word Akshaya means eternal and Tritiya means 3rd in Sanskrit and Hindi too.