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.
The RBI governor Mr. D. Subbarao today announced the Annual Policy statement for the year 2011-12. Here’s a look at what the document contains. “The annual policy has been created under very different set of conditions as compared to the last year” were the opening lines of the Governor.
Gold loans typically are for the duration of one year, and can be foreclosed at any time. Banks charge an interest of 10% to 12% on gold loans, and your liability is to pay the interest on a monthly or quarterly basis-no EMIs to pay or worry about. The jewellery is released by the bank… Read More »
A recent press said that Syndicate Bank has entered into a MoU with Karnataka State Public Service Commission (KPSC) to accept application fee across all its branches in the State. The Bank has offered comprehensive C2B (Customer to Business) solution to KPSC, it said in a statement. A person interested in applying for the vacant… 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 »