City Union Bank (CUB), has drawn up plans of raising capital valued at Rs. 1000 crore over the next 3 years in order to reach its business target of Rs. 50, 000 crore by the year 2013-14. The bank has stated its aims of using instruments such as rights issue, qualified institutional placements (QIP) or… Read More »
The 3rd biggest private sector bank in the country, Axis Bank has opened its 1000th branch in the country. The branch is located at Bandra Reclamation situated in the Western suburbs of Mumbai.
March has always been a hectic month for bankers with the end of financial year. But this year, it has been special as other than the normal activities, some additional actions also took place in the banking sector.
Fiat India Automobile Ltd (Fial) does not intend to hike prices of its cars currently, in view of the Euro IV emission norms which will come into force from April 2010. From April 1, 2010, 13 cities will move over to Euro IV. Previously, industry sources said that for the Euro IV emission norms to… Read More »
Auto major Bajaj anticipates to finish FY 2010 with sales of nearly 2.9 million vehicles, which also comprise of exports of 9 lakh vehicles. The company had given itself a sales target of 4 million vehicles for FY 2011, highlighting an increase of nearly 40%, as per a press release from the company.
Deutsche Bank is ready to introduce a credit card that will let users redeem points or flight miles, collected by booking flight tickets on the card, against airline tickets. the credit card is called as WorldMiles credit card and is available in 2 models: Platinum and Signature. To utilize the service, card holders have to… Read More »
ABN Amro India has reduced the credit limit of some credit card clients to a 10th and hiked the minimum amount payable to 7% of total outstanding from 5%, mostly to convince them to give up their cards as it is nearing selling its retail operations to Hong Kong and Shanghai Banking Corp (HSBC).
The board of the Catholic Syrian Bank will meet to authorize the sale of 14.5% equity by its main shareholder, Bangkok-based NRI businessman Sura Chansrichawla to a group of non-resident investors. But while the board gets ready for the stock transfer, there are whispers of a bigger deal in the pipeline. Another group of CSB… Read More »
Volvo Auto India said the takeover of its parent Volvo by China’s Geely won’t affect its plans for India. The company also said there was no talk about the likelihood of the Chinese carmaker coming to India through it. Paul de Voijs, Volvo Auto India Managing Director said, “After what happened on Sunday, Volvo will… Read More »
Toyota’simage may have been hit after the Japanese carmaker had to recall its vehicles in the US, but in India the company sees no effect and is looking at a robust growth. Sandeep Singh, deputy managing director (marketing) of Toyota Kirloskar Motor said, “No impact in India. Our sales have doubled. It’s limited to the… Read More »