Speaking at a press meet in Madurai, Canara Bank, Chairman and Managing Director, Mr A.C. Mahajan said that the lender is aiming to achieve a business of Rs.4 lakh crore during the current fiscal. Mr. Mahajan said that the aggregate business has reached Rs 3.5 lakh crore end-September. This represents a year-on-year growth of 20.6… Read More »
State Bank Of India has launched a unique scheme, ‘Power Jyothi’, for the students of Madurai Kamaraj University.
Within a month of assuming office as Managing Director and Chief Executive Office of Catholic Syrian Bank, Mr V. P. Eswardas, has signalled the bank’s aggressiveness on the business front with the completion of his first round of visit to all regions.
According to a statement issued at the Bombay Stock Exchange, Union Bank of India has raised its authorised capital to Rs 3,000 crore from the existing Rs 1,500 crore. A resolution to this effect was passed in the meeting of the Board of Directors of the bank held on December 12.
The most consistent tax payers in India are the salaried class as their salaries are subject to TDS. Last year’s budget gave only a marginal relief to the salaried class with just a Rs.10,000 hike in the limit for taxable income. Since last year the salaried are pushing for a significant jump in the taxable… Read More »
At any given point in time, an X% flat rate is always more expensive than an X% annual reducing balance rate. The effective total interest paid out is also influenced by the time periods the reducing balance is recalculated, which could be monthly, daily, yearly, quaterly or half yearly. These time periods are known as… Read More »
Be regular with your investment. It is best to allocate a portion of your funds from your monthly income and make arrangements to transfer it immediately to another account, from where you can plan your fund allocation for each investment. Do not use the bank account that you utilise for your day to day expenses,… Read More »
Karnataka Vikas Grameena Bank, a regional rural bank sponsored by Syndicate Bank, has surpassed a total business of Rs 6,600 crore as of December 17 this financial year. In the first six months of the current fiscal, the lender has earned a net profit of Rs 35.66 crore.
Remember, diversification is the name of the game when it comes to investment. Just putting your money in FD will not help you get the best overall returns. You also need exposure to equities to get the growth in capital and beating inflation in the long run. Hence it is advisable to invest into both… Read More »
Credit card is a powerful credit tool to help you tide over short term financial requirements. However they must be used judiciously, as any misuse of the card can attract stiff charges and make you fall into debt trap, besides destroying your credit rating. So the watch word is – BE CAREFUL when using the… Read More »