A recent press report said that banks have opposed the Damodaran Committee’s proposal for a five-fold increase in deposit insurance cover. Banks feel that the increase in deposit insurance cover could have serious cost implications for the banks due to higher premium outgo. Reports said that the RBI’s Committee on Customer Service in Banks chaired… Read More »
A recent press report said that Mahindra Reva Electric Vehicles Private Limited (Mahindra REVA), pioneer of electric vehicle technology in India, announced that it has tied-up with the Export-Import Bank of India (Exim Bank) for a loan of Rs 50 crore. Exim Bank will finance for the vehicle manufacturer under its Research & Development (R&D)… Read More »
A recent press report said that private sector lender Axis Bank has planned to increase its lending process to micro finance institutions (MFIs). The bank is also looking towards the idea of direct lending to self help groups (SHGs). Ms. Shikha Sharma, CEO and MD of the bank said that the bank’s slowdown on lending… Read More »
A recent press report said that State Bank of India has adopted a scheme called Community Services Banking under which, SBI Branch Manager Mr. Porompat S. Nikunchand Singh, presented one steel Almirah to the authority of the Kiyamgei Ideal High school during a simple function held recently at the school premises. Mr. S Nikulchand, said… Read More »
Do you know in those days the loans were restricted to Rs. 1 L only and the loan tenure was a mere 3 months only?! Also, these were security loans. Another trivia to note is that in this period lending against shares of the banks or on the mortgage of houses, land or other real… Read More »