A recent press report said that Public sector lender United Bank of India has hiked its lending rate by 25 basis points (bps), which has made auto loan, home loan and corporate loans more expensive. Reports said that the Bank has increased its Base Rate and Prime Lending Rate by 25 bps to 10.25 per… Read More »
A recent press report said that Barclays Plc has cut jobs in India due to the merging of the client relationship teams of its commercial and investment banking units. According to a email response of Barclays Capital, Clare Williams, a Hong Kong-based spokeswoman for Barclays, the company’s commercial banking division, are combining the teams that… Read More »
According to a recent press report Dr K. Ramakrishnan, Chief Executive Officer of Indian Banks’ Association (IBA) said that bankers should be customer-oriented and sensitized. Addressing the members of the Bankers’ Club of Mangalore, he said the relationship between a banker and customer should be like that of the host and the guest. He also… Read More »
A recent press reports aid that the Karnataka Vikas Grameena Bank (KVG Bank), a Dharwad-based Regional Rural Bank, has decided to plant one lakh trees, with the involvement of school children, by giving incentives and prizes. The scheme has been named ‘Vraksha Laksha Yojana’ was inaugurated jointly by the bank and Rashtrothana Vidya Kendra, Mummigatti… Read More »
According to a recent press release banks have lent Rs 147,667.36 crore in the first quarter of FY12 and gathered together almost double the amount in deposits at Rs 283,978.92 crore during the same period. The reports from the Reserve Bank of India said that the total bank credit stood at Rs 4,086,326 crore as… Read More »
A recent press report said that IDBI Bank has opened as 24X7 ‘anytime’ locker facility with biometric access to provide to the requirements of its customers. Mr. R.M. Malla, Chairman and Managing Director, IDBI Bank said that the locker facility has good ambiance, a special dressing room, and 24 hours availability of tea or coffee.… Read More »
A recent press release said that Saraswat Bank has tied up with Reliance ADAG under which the Anil Ambani-led group will market a core banking solution developed by the bank’s InfoTech subsidiary. Mr.Eknath Thakur, Chairman, Sarwat Bank told the press that, the bank will sell its core banking software, ‘Swift Core’, to banks using ADAG’s… Read More »
Recent press reports said that the bank loans have recorded a year-on-year growth of 22.5% with the outstanding bank credit touching Rs 39.57 lakh crore from Rs 32.32 lakh crore during the same period a year ago. Reports also said that the deposit rates have also gone up along with the increase in loans. The… Read More »
A recent press report said that the state-run Allahabad Bank has planned to achieve a business growth of 24 per cent during the current financial year 2011-12. Mr. J.P Dua, chairman and managing director of the bank said that the bank has projected a business level of around Rs.2, 80,000 crore as in March 2012.… Read More »
Purpose: This loan provides cash credit. Eligibility: Businessmen, individuals doing business, contractorships with not less than 3 years experience, are eligible for this loan. The applicant should be an income tax assessee for at least the last 3 years. Quantum of Loan: The quantum of the loan is decided based on the credibility… Read More »