The Kerala High Court today adjourned a petition filed by Subramanian Swamy, a former Union minister, against the proposed commencement of an Islamic bank with state participation to January 5, for a detailed hearing.
State run lender Union Bank of India inaugurated its representative office in Sydney, Australia, on Wednesday and plans to upgrade its operations through a full-fledged branch or through a subsidiary bank in the country.
Union Road Transport Minister, Mr Kamal Nath, said after a meeting with World Bank President, Mr Robert Zoellick in New Delhi that The Road Transport and Highways Ministry would like to consult World Bank for technical, financial and legal inputs for the identified mega highway projects of the National Highways Authority of India and the proposed… Read More »
SBI has been the most aggressive bank in the advances space for the Year 2009. First it changed the housing loan scene overnight by announcing the 8% fixed cum floating interest rate scheme. Then it became the dominant player in the automobile loans domain too. SBI was one of the preferred banks for the loans… Read More »
The bank is one of the few which continued to grow its retail lending book even after the financial crisis. However, the growth rate has come down and officials say they will be cautious in their lending to the unsecured retail loan portfolio of credit cards and personal loans. The unsecured loan portfolio, which was… Read More »
The bank had gone slow on its housing loans, mortgage loans and automobiles loans (both 2 wheelers and 4 wheelers). Most of the automobile showrooms did not have an ICICI bank representative throughout the year. ICICI bank was also the last among the major banks to reduce the housing loan interest rate to the competitive… Read More »
Another simple measure to watch is net interest margin, which looks at net interest income as a percentage of average earning assets. Track margins over time to get a feel for the trend. PNB’s Net Interest margins have been generally stable in the 3.5 to 4 percent range. FY08 Net Interest Margin stands at 3.58… Read More »
Bank of India pioneered the introduction of the Health Code System in 1982, for evaluating/ rating its credit portfolio. This year however, the bank has been hit badly by bad debts. The bank’s profitability was impacted on the back of total provisions shooting up to Rs 883 crores (Rs 452 crores). Of the total provisions,… Read More »
UTI Retirement Solutions, the pension arm of UTI Asset Management Company has outshined SBI Pension Fund and Life Insurance Corporation Pension Fund in the National Pension Scheme (NPS) for government employees. Under NPS, employees have to contribute 10% of their basic salary and dearness allowance with a matching contribution from their employers. It is estimated… Read More »
The Life Insurance Corporation of India has awarded Indian Overseas Bank, Coimbatore region, with the ‘Bima Region’ award for excellence in insurance business.