Indian Bank introduces festive offer on home loans
PSU lender, Indian Bank has launched “Festival Offer- 2010′ for all new home loan borrowers. The offer will be effective from 13th September 2010 to 31st December 2010.
New ULIPs vs. MFs and Term plan
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 »
Bank of Baroda takes over Memon Cooperative Bank
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.
Home loan lender SBI plans to utilize its technological platform
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.
High returns deposits set to return
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.
Banks make education loan norms more stringent
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.
Farmers to receive smart cards shortly
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.
O P Bhatt gets lifetime achievement award
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 Launches New Savings Bank Account Designed For Women
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.
Tamilnad Mercantile Bank in a quandary on Ramesh Vangal’s stake holding
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.