According to a statement released to the press by United Bank of India, the bank has obtained licenses for opening 11 new branches in unbanked gram panchayats in the state of West Bengal. This is being done in the backdrop of the recommendations of the T M Bhasin Committee, appointed on behalf of West Bengal State… Read More »
A key Parliamentary Standing committee has recommended that financial charges levied by credit card companies should not be left entirely at the discretion of the banks. The high interest rate charged by credit card providers has finally caught the eye of the law makers and this recommendation is sure to create pressure on the RBI to regulate… Read More »
In its mid – year review for 2009-10, which was tabled in Parliament by Finance Minister Pranab Mukherjee, the Govt. said the Reserve Bank needs to withdraw the easy money policy gradually so as to ensure sustained economic recovery and contain inflationary expectations.
One of the most repeated pleas of NBFCs on the direct taxes front is the issue of parity with banks and housing finance companies in the areas of allowing provision on non-performing assets as a deduction. This provision, made in accordance with the prudential norms of the RBI, can be claimed as a deduction for… Read More »
As per data at a disaggregated level drawn from 49 banks accounting for 95 per cent of total bank credit, the year-on-year growth in bank credit to industry was lower than that in the previous year. While the credit flow to agriculture, real estate and SMEs remained high, it was lower for housing, NBFCs and… Read More »
Global funds invest in international companies and/or mutual funds investing in international companies. Some of these funds can also choose to focus on investing in international companies operating in a particular sector. Few funds are hybrid i.e. they invest a part of their money in Indian companies and remaining portion of their money n international… Read More »
As part of its global expansion plans, the State-run Oriental Bank of Commerce plans to open more offices in Hong Kong and Africa.
”=[[p’ New generation private sector bank, IndusInd Bank, inaugurated Mumbai’s first solar-powered automated teller machine. This move comes as a part of its Green Office Project campaign “Hum aur Hariyali”. As another part of the campaign, the bank also unveiled a “Green Office Manual – A Guide to Sustainable Practices,”. The manual has been prepared… Read More »
A senior bank official of private sector lender Dhanalakshmi Bank said the bank is aiming for a total business of Rs 12,000-crore by FY10. The bank is also planning to hire 300 more personnel to take its total headcount to 4,000 by the same period.
Citibank recently launched CitiHome One, a unique universal mortgage product, that would enable customers to get a home-loan as a combination of a conventional term-loan and credit line. With the launch of this new scheme, customers will be able to enjoy the dual advantage of interest savings on their home-loans by utilising surplus funds as… Read More »