Increase in number of products from Future Generali
News reports have indicated that the Insurance market is set to provide more choices with 7 new products coming from the stables of Future Generali India Life insurance Company.
Positive credit growth expected: State Bank of Travancore
Car loans, Housing loans, Agri loans and Infrastructure lending have helped State Bank of Travancore to achieve a credit growth of over 13 percent as compared to the previous year. News reports have suggested that the Bank expects to end this financial year with a healthy credit growth of 20%.
One more way to tap funds this recession!
Normally, the bank enters into a tripartite agreement with you and your tenant as well as a term loan agreement is signed between you and the bank, prior to approving the loan. As per this agreement, the tenant has to pay the rent to the bank directly. Here you and your tenant will have to… Read More »
Free ATM usage curtailed from Oct 15th 2009!
The recent announcement from RBI curtailing the use of free ATMs to five times a month and a upper limit of Rs.10,000 per ATM withdrawal, the joy of the consumer in availing this service has become short lived. This new ruling comes into effect from October 15th, 2009. However, with people working 24×7, but banks… Read More »
Free access to ATMs of other banks closes on October 15
There would be limits to ease of access to any bank’s ATM from Thursday as third-party ATM usage would carry a cap on the withdrawal amount and on the number of transactions each month. From Oct 15th, a maximum of 5 transactions only will be allowed at ATM’s of banks where one is not an… Read More »
IDBI launches new insurance plan – Termsurance Protection Plan
IDBI Fortis Life Insurance on Friday launched a new insurance plan, the Termsurance TM Protection Plan. A simple term insurance plan, it comes with 3 different life insurance cover options to suit the protection needs of different customers, including an innovative `increasing risk cover` option designed to help beat inflation.
IBA suggests base lending rate
In its recommendations to the Working Group on benchmark Prime Lending Rates (BPLR), the Indian Banks association has proposed the replacement of the BPLR with a base rate. If the RBI accepts this recommendation, then banks will not be able to lend below the base rate as it will not be viable.
Bharti Axa to get Rs 645 crore capital infusion
Bharti AXA General is a joint venture between Bharti Enterprises and AXA Group. Bharti has a 74 per cent stake in this JV and the rest 26 per cent is with AXA. Currently, the company has over 40 branch offices across the country, and plans to expand to 70 branches by the end of 2009.
Standard Chartered to go ahead with Rs 5,000-cr IDR issue
UK-based lender Standard Chartered Plc was in the process of finalising the size and time of its Indian Depository Receipt (IDR) issue, after having secured the approval of the RBI, sources said.
PNB eyeing presence in Kazakhstan
A top bank executive of Punjab National Bank has said that the bank is scouting for acquisition of a bank in Kazakhstan as part of its plans to expand its presence. Punjab National Bank Executive Director Nagesh Pydah addressing reporters in Chennai said, “There are lot of opportunities (in Kazakhstan). A high level delegation has… Read More »