According to a recent press report Punjab National Bank, has raised its interest rates by 50 basis points, following the policy rates hike announced by the RBI. K R Kamath Chairman and MD of the bank told the press that the board of directors has decided to increase interest base rate and BPLR by 50… Read More »
A recent press report said that syndicate bank has raised $500 million through a medium-term notes issue. The bank has planned to use these funds for “build-up of assets” at its London branch, which is the bank’s first ever international bond issuance. The bond was issued at a fixed coupon rate of 4.75 per cent.… Read More »
A recent press report said that Lakshmi Vilas Bank has revised its interest rates for term deposits. The was founded in 1926 by seven people of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar, to cater to the financial needs of varied customer segments. The bank offers home loan, personal loan, auto loan, busiess… Read More »
A recent press report said that UCO bank has planned to open 37 SMEs hubs pan-India in FY’12 in order to facilitate single window clearance for loans. Mr. Arun Kaul, Chairman and Managing Director, UCO Bank Chairman said that the bank has planned to set up 37 hubs that will provide to the loan requirements… Read More »
Reserve Bank of India (RBI) proposed the base rate system to replace the prime lending rate (PLR) for banks to bring about more transparency in the lending operations of the bank across the country. The base lending rate shows the actual cost to banks that has to be covered through lending. RBI’s definition of base… Read More »
Purpose: This loan finances purchase of new or old residential property and also repair / renovation of existing residential property. Quantum of Loan: The maximum amount that is granted as home loan is Rs. 50 lakhs. In case of new house /flat, 85% of the cost will be granted as loan. In case of… Read More »
State Bank of India has opened its first ”affordable housing loan” cell in Mumbai, which will provide a platform for its customers to interact with the bank. The bank has initiated this project in association with a few builders operating in the affordable housing segment. The first facility has been set up in Nalla Sopara… Read More »
The RBI has warned the banks against violating the interest rate reset clause for the benefit of the bank. RBI said that it has observed that some banks raise their interest rates every time the base rate is changed. This is happening despite the fact that it is clearly stated in the documents of the… Read More »
Jalgaon Janata Sahakari Bank Ltd. was established on 20th January, 1979. The Bank attained “Scheduled Bank” status on 29th January, 2000. The bank works with a vision of”Carve the names on the heart of common man instead of carving names on marble”. Bank had all its branches computerized by the year 2000. By the time… Read More »
Jalgaon Janata Sahakari Bank Ltd. was established on 20th January, 1979. The Bank attained “Scheduled Bank” status on 29th January, 2000. The bank works with a vision of”Carve the names on the heart of common man instead of carving names on marble”. Bank had all its branches computerized by the year 2000. By the time… Read More »