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 »
South Indian Bank has increased its business target for the current fiscal by Rs 1,500 crore. The decision to increase the target was made at the two-day conference of the top management team and 14 regional heads of the bank at Thrissur.
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 »