Recent press reports said that United Bank of India has received its board’s approval in place for raising Rs 550 crore through tier-II bonds, as and when there is need for capital. Mr. Bhaskar Sen, Chairman and Managing Director, United Bank of India told the press that they have board’s approval for raising Rs 550… Read More »
A recent press report said that the Reserve bank of India has asked the banks to implement 1% interest subsidy on home loans up to Rs.15 lakh as per the budget announcement. The 1% charge will be implemented on home loan up to Rs. 15 lakh where the cost of the house does not go… Read More »
Allahabad Bank recently celebrated its 147th Foundation Day. Mr. Namo Narain Meena Minister of State for Finance stated that the RBI must skillfully manage the situation arising out of monetary tightening and the consequent rise in base lending rates of banks so that the credit growth is not constrained. He added saying that commercial banks… Read More »
Indian Bank has decided to start a full-fledged branch in Hong Kong in order to strike the booming Sino-Indian trade and financial flows. In a press report Mr. T. M. Bhasin, Chairman and Managing Director, Indian Bank said that the bank has decided to approach the Reserve Bank of India (RBI) for regulatory approval. He… Read More »
According to recent press reports Karnataka Bank Ltd, private sector banking institution based in the town of Mangalore in Karnataka has signed an agreement with Bartronics India Ltd in order to boost up the process of providing banking services in remote villages under its financial inclusion plan. The agreement was signed by the Managing Director… Read More »
Recent reports said that the State Bank of Hyderabad (SBH) is planning to tap their business potential in salary accounts of corporate. Ms Renu Challu Managing Director State Bank of Hyderabad said that Salary accounts are a focus segment for the bank. The bank offers a ‘Smart Salary Account’ package with zero balance and a… Read More »
A recent press report said that Kendriya Vidyalaya Sangathan (KVS) and Union Bank of India,India’s largest state-owned banks, have signed a Memorandum of Understanding (MoU) for salary disbursement of KVS employees across the country. According to the agreement, the bank has accepted to offer inclusive solution for disbursement of salary to all the 56,000 KVS… Read More »
Japan is the world’s third-largest economy in terms of the GDP. Japan contributed 8.7% to the global GDP in 2009. It is also the world’s fourth largest exporter and fifth largest importer.
The triple tragedy of the earthquake, tsunami and nuclear disaster in Japan has not only shaken the world’s third largest economy, but also brought tremors to the global economy. As per, economist Robert Shiller, the Japanese quake and the tsunami could reach a global scale and this can be seen from the fact that the… Read More »
Mr. M V Nair, Chairman and Managing Director, Union Bank of India, said that the RBI is likely to increase key policy rates in the month of May due to continuing high inflation in the country. This increase in key policy rates will add pressure to the banks’ lending rates. He also said that the… Read More »