The minimum premium size of the new ULIPs has increased. Previously, a unit-linked pension plan could be bought for a premium of Rs 500 a month. The minimum monthly premium for LIC’s pension plus scheme, launched after September 1, is Rs 1,500. However it still does not work as a pure insurance product due the… Read More »
PSU lender, Bank of Baroda has taken over the troubled Memon Cooperative Bank based in Mumbai. The bank would be buying certain assets and liabilities of the cooperative bank.
The largest home loan lender of the country, State Bank of India (SBI) plans to make complete utilization of its big technological platform. The platform required Rs 500 – 600 crore for construction and the bank now plans to make proper use of it.
Special deposit schemes offering higher rates of return than normal have returned in the personal finance area. These special schemes have been relaunched by around 14 banks. Slow growth rate of deposits at just 14.4% have made these banks take this measure as a way of rebalancing the asset liability disparity.
Increasing level of non performing assets (NPAs) in the education loan sector has pressurized banks to take stringent steps in closing the loopholes present in the system and also to keep a watch on the students.
Banking amenities for farmers are set to undergo a makeover. It is quite likely that both small and big farmers are expected to receive plastic smart cards. These cards can be used in ATMs, POS terminals for cash withdrawal and making payments.
In order to honour the offerings of PSUs, the 2nd India Pride Award managed by Dainik Bhaskar group concentrated on the contributions of PSUs.
Personal loan lender Karnataka Bank has launched a new savings account product designed particularly for the women. Named as KBL Vanitha, the product has been introduced with the aim of inducing the tendency of saving in women while also assuring them that they can handle their own wealth without any male assistance.
The board of Tamilnad Mercantile Bank (TMB) has been encountering standard hassles about ownership on behalf of doubtful shareholders. Now it is facing a new problem about famous shareholder, Ramesh Vangal. The question is if Vangal is yet a shareholder of the bank or not.
Car loan lender Muthoot Finance is readying up to boost its presence in Andhra Pradesh. The NBFC intends to add 150 branches to its current network of 200 in AP. Also, it would be recruiting new 1000 employees. The chief aim of the company lies in capturing the rural segment, according to its MD, George… Read More »