Recent press reports said that the Reserve Bank of India has imposed a monetary penalty of Rs.1 lakh on The Limbasi Urban Co-operative Bank Limited, Limbasi Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation… Read More »
Cauvery Kalpatharu Grameena Bank is one of the Regional Rural Banks established under Regional Rural Banks Act, 1976. Cauvery Kalpatharu Grameena (CKG) Bank was established on 24th May 2006 by amalgamation of Cauvery Grameena Bank and Kalpatharu Grameena Bank. It is sponsored by State Bank of Mysore. Purpose – Purchase of Vehicle both New and… Read More »
A recent press report said that the Reserve Bank of India (RBI) has asked the banks to tighten due diligence when giving loans to micro finance institutions (MFIs) to ensure that they follow rules that are to come into effect from the 1st April. The central bank said that the process should be initiated immediately… Read More »
North Malabar Gramin Bank is one of the 84 Regional Rural Banks operating in the country established under Regional Rural Banks Act 1976. The ownership is vested with the Government of India, Government of Kerala and Syndicate Bank. The Bank was established on the 12th of December 1976 with its Headquarters in Kannur (Kerala –… Read More »
Purpose – Construction of house along with purchase of site, for purchase of House or flat, repair or renovation, extension, addition to the existing house or flat Eligibility – All customers irrespective of their income, but should have satisfactory conduct of account for at least six months, all Government servants, persons working in local institutions… Read More »
The rate of interest on the Floating Rate Bonds, 2016 (FRB, 2016) applicable for the year (May 7, 2011 to May 6, 2012) shall be 7.85 per cent per annum. It may be recalled that the rate of interest on the FRB, 2016 was set at a mark-up (as decided in the auction held on… Read More »
Purpose- to make the small and marginal holdings economically viable to bring fallow lands and waste lands under cultivation, to step up agricultural production and productivity; The objective of the Scheme is to finance the farmers to purchase, develop and cultivate agricultural as well as fallow and waste land. Eligibility – Small and Marginal farmers who… Read More »
Cauvery Kalpatharu Grameena Bank is one of the Regional Rural Banks established under Regional Rural Banks Act, 1976. The bank offers a variety of loan products such as personal loan, agricultural loan, vehicle loan etc. Purpose – To encourage cultivation of Horticulture Crops like coconut, mango, pomegranate, grapes, pepper, coffee, amla, areca nut, betel vine… Read More »
Recent press reports said that the Reserve Bank of India has imposed a monetary penalty of Rupees five lakh on Ahmedabad District Central Co-operative Bank Ltd., Ahmedabad, and Gujarat. The bank has been penalised for the violation of guidelines issued by Reserve Bank of India on Know Your Customers (KYC) norms and Anti Money Laundering… Read More »
North Malabar Gramin Bank is one of the 84 Regional Rural Banks operating in the country established under Regional Rural Banks Act 1976. The ownership is vested with the Government of India, Government of Kerala and Syndicate Bank. In the course of 30 years of existence, NMGB has established itself as a fundamentally strong and… Read More »