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 »
Slowdown in recruitments in late 1980s to 1990s had caused a mid level crisis in the public sector banks (PSBs). This has pressurized banks such as United Bank of India (UBI) to go for lateral entries even for top positions.
Reserve Bank of India has established an estimate of 5 years by which mobile banks would be reaching out to every village in India, according to K C Chakraborty, Deputy Governor, RBI.
Bank customers are soon to receive gifts during this festive season. Many PSU banks such as Punjab National Bank (PNB),Allahabad Bank, UCO Bank and Bank of India have introduced festival offers. These offers chiefly comprise of loans at lower rates and relinquished processing and documentation charges.
Home loan lender, Punjab and Sind Bank has plans of hiring 1000 new employees during this fiscal.
Car manufacturer Ford India said it intends to introduce 8 new models in India by mid-decade, with an aim of capturing the country’s rapidly rising car market and make it an export hub.
India’s biggest carmaker Maruti Suzuki India is believed to be planning increasing its production by around 10% to manufacture more than 1,10,000 units a month from October.
After the successful launch of the 1.2-L Polo in March in India, the biggest European car producer Volkswagen has rolled out an advanced model of the hatchback with an initial price of Rs 616,000 (ex-showroom New Delhi).
Non banking financial company (NBFC), Magma Fincorp is planning to increase its loan portfolio to Rs 5,500 crore in this fiscal, an increase of 25% from previous year.