Axis Bank has entered Srinagar with the opening of its new branch at Exhibition crossing in the heart of the city. With the opening of the branch, the number of branches of Axis Bank in the state has increased to three. The bank also has a network of 16 ATMs throughout the state.
Banks are in the process of requesting the government for permission to issue tax-free bonds to fund their infrastructure projects. Bankers are of the opinion that the bonds will help them raise long-term resources and reduce dependence on retail fixed deposits, whose maturity is getting shorter.
The RBI on Monday gave the go ahead for FIIs and NRIs to purchase up to 49 per cent and 24 per cent respectively of Kerala-based Dhanalakshmi Bank’s paid-up capital through primary and secondary markets and stock exchanges. The RBI stated in a press release that aggregate foreign investment (by FIIs and NRIs) in Dhanalakshmi… Read More »
The Tamilnad Mercantile Bank (TMB) has opened its 216th branch, at Chembur, Mumbai. The branch is computerised and offers safe deposit locker facility along with ATM service. This takes the banks total ATM count to 138.
United Bank of India has opened its 1,474th branch at Mithipur in Murshidabad district. The branch was opened as part of its plans to make available banking services to people in West Bengal and was inaugurated by the Union Finance Minister, Mr Pranab Mukherjee.
The bank’s loan disbursement grew by 18% year-on-year, from Rs.68,853 crores as on 30th Sep’08 to Rs.81,044 crores as on 30th Sep’09, while investments rose to Rs.52,072 crores from Rs.37,998 crores, over the same period, a growth of 37% year-on-year . The net interest income rose to Rs.1,150 crores during quarter ending September 2009 from… Read More »
Risk and Returns go hand-in-hand. When we look at high returns, the danger of risk is quietly lurking underneath, ready to pounce at a slightest miscalculation. Hedging refers to a method of reducing the risk of loss caused by price fluctuation. An example of a hedge would be if you owned a stock, then sold… Read More »
Housing finance major HDFC Ltd is looking to enter the rural segment with its tie-up with SKS Microfinance. SKS Microfinance will provide loans for extension and improvement of dwelling units that double up for income-generating activities such as eateries, papad and agarbathi-making etc and HDFC will provide technical support and the first tranche of funding of Rs… Read More »
24 Punjab National Bank is planning to expand its network in Maharashtra and has sought RBI permission to add 11 branches to the existing 156 in the State.