A recent press report said that the Reserve Bank of India, in its recent notification has made it clear that banks that offer loan to farmers under the Kisan Credit Card will be treated as direct finance for agriculture under priority sector lending. The RBI reports mentioned that the credit under the KCC is mainly… Read More »
A recent press report said that Karur Vysya Bank has added 10 branches and 50 ATMs to its network, to take its total branch network to 386 and ATMs to 583. The bank is aiming to have a network of 400 branches and 600 ATMs by end-September. Reports said that Mr. R. Gopalan, Secretary, Department… Read More »
A recent press report said that Regional rural banks (RRBs) may need more time to shift entirely to core banking solutions (CBS) than that allotted by the RBI. The deadline to adopt core banking solution is set to expire at the end of September. Mr. R. Khan, Deputy Governor, Reserve Bank of India (RBI) said… Read More »
Dhanlaxmi Bank has hiked its retail term deposit rates in two baskets, taking it into double digits in one maturity. As per the new slabs the depositors will earn 10 per cent per annum for a special 300-day term deposit. The rate of 10 per cent is applicable for deposits below Rs one crore. Mr.… Read More »
A recent press report said that State Bank of India and ICICI Bank have raised their lending rates, the second time in the last one month. Reports said that SBI has increased its base rate and benchmark prime lending rate (BPLR) by 50 basis points each to 10 per cent from 9.50 per cent and… Read More »
A recent press report said that the Institute for Development and Research in Banking Technology, Hyderabad, has identified Karur Vysya Bank for the Banking Technology Excellence Award 2010-11, mobile banking category. KVB’s Managing Director and Chief Executive, Mr. K. Venkataraman, received the award from the Deputy Governor of the Reserve Bank of India, Mr. Anand… Read More »
A recent press report said that the Kolkata main branch office of State Bank of India at Strand Road has undergone a structural change in order to provide upgraded service to various groups of its customers. Reports said that the main branch has been segregated into three branches namely High Court branch, Specialised Institutional Banking… Read More »
A recent press report said that SBI is not considering sponsoring an infrastructure debt fund (IDF) which is a new vehicle to enhance the flow of long-term debt for funding infrastructure development promoted in Budget 2011-2012. Mr.Pratip Chaudhuri, Chairman said that the Bank is not considering it because already on the infrastructure side, the bank… Read More »
A recent press report said that Corporation Bank has focused on MSME (micro, small and medium enterprises) and agriculture sectors for growth during the current financial year. Mr Ramnath Pradeep, Chairman and Managing Director told the press that the bank desires to register 25 per cent growth in advances during the current financial year and… Read More »