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 »
Leading public sector lender HDFC plans to disburse Rs 3,000 crore over the coming two-months under its special housing loan plan, launched early this month and offering an interest rate of 8.25 per cent.
As part of its schemes for the festive season, leading public sector bank, Punjab National Bank has offered to grant home loans at floating interest rates up to 2.5 percent below the prevailing Public Lending Rate till the end of this year.
Year 2009 has been a significant year to showcase RBI’s success in regulating the banks in India. Most banks have been cautious with their lending to risky profiles. Certain unsecured loans were not sold at all. This has helped almost all the banks to be more powerful as their non-performing assets have come down.