A recent press report said that UCO Bank has planned to ramp up its ATM network to 3,000 machines by end March 2013 from the current level of 681. Reports said that the bank desires to expand its ATM network to 1,500 by the end of the current fiscal. The bank is also expecting its… Read More »
A recent press report said that Housing loans have not witnessed any slowdown in demand. Mr. .Deepak Parekh, Chairman, Housing Development Finance Corporation (HDFC) has also told the press that the housing loan have not faced any slow down in demand in spite of the increase in interest rates. He also said that the hike… Read More »
A recent press report said that the Insurance Regulatory and Development Authority (IRDA) has imposed a fine of Rs 70,00,000 on SBI Life Insurance company for paying around Rs.204 crore to eight of its corporate agents and six master policyholders, far in excess of the stipulated levels. SBI Life Insurance is 74:26 joint venture between… Read More »
A recent press report said that the Reserve Bank of India has imposed a monetary penalty of Rs.1.00 lakh (Rupees one lakh only) on Pragati Sahakari Bank Limited, Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations… Read More »
A recent press report said that the Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees five lakh only) on The Pioneer Urban Co-operative Bank Ltd., Belgaum, Karnataka, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949… Read More »
A recent press report said that the Government has appointed Mr. Harun Rashid Khan as Deputy Governor of Reserve Bank of India. Mr. Harun Rashid Khan fills the vacancy of superannuation of Ms. Shyamala Gopinath. The central bank traditionally has four Deputy Governors, with two of them being from the RBI and the other two… Read More »
A recent press report said that HDFC Bank, has launched ‘Infinia’ cards for the uber-rich, high net worth community in India. Aditya Puri, managing director, HDFC Bank, told reporters at a press conference that the card has been positioned directly against Amex, and the company believes the card to be a better product. The card… Read More »
A recent press report said that State Bank of India has planned to ramp up its ATM network by 8,000-10,000 every year over the next three years so as to cut down on long queues outside its ATMs in urban and semi-urban areas. The bank is looking at earning fee income from the other bank… Read More »
A recent press report said that Indian Overseas Bank has planned to raise Rs 1,200 crore of capital in the current financial year. Mr. M. Narendra, Chairman and Managing Director, of the bank said that the bank might go in for a public issue, rights issue or Qualified Institutional Placements in order to raise the… Read More »
A recent press report said that the Indian Banks’ Association (IBA) has warned banks not to go overboard in their effort to recover bad loans. This caution has been made after the act of some state-run lenders such as Corporation Bank and the State Bank of India displaying the photographs of defaulting borrowers at their… Read More »