A recent press report said that Indian Overseas Bank (IOB) has reported an increase of 0.64 per cent in its net profit for the quarter ended September 30 at Rs 207.46 crore as against Rs 206.15 crore in the last year of same period. The bank’s total income for the quarter stood at Rs 4,822.56… Read More »
A recent press report said that most of the insured were dissatisfied with the settlement of claims of medical insurance. This has made the health insurers to re – look their model of settling the claims. Earlier the Health insurers would outsource their claim settlements to Third Party Administrators (TPAs) in order to save costs… Read More »
According to a recent press release Moody’s has re-affirmed its rating for ICICI Bank and said the private sector lender has continued to maintain a healthy franchise and a strong liquidity, capitalization and earnings profile. The report also said that the probability of systemic support for ICICI Bank is high, given its sizeable retail deposit… Read More »
A recent press report said that State Bank of India has reduced the rate of interest on car loans to 11.25% with lowest EMI of `1,725/- per lakh for 7 years period. Reports said that SBI in association with Maruti had organized Car Loan Melas on October 17 and 18 at 39 different locations in… Read More »
A recent press report said that Mr. Ajai Kumar has assumed charge as Chairman and Managing Director (CMD) of Corporation Bank. Mr. Kumar, has worked as General Manager in Bank of Baroda and as Executive Director in UCO Bank, and has a wide experience in domestic and overseas operations. Reports said that Mr. Kumar combining… Read More »
A recent press report said that two people were arrested in southeast Delhi for allegedly forging documents and cheating ICICI bank of over Rs 63 lakh. The accused were been identified as Girish Pathak and Jitender Singh, said cops. According to reports the accused had faked the signature of the customer and placed a request… Read More »
A recent press report said that the recent rate hike by the Reserve Bank of India in spite of slowing down economy has disappointed the Indian corporates. In his statement Mr. Harsh Pati Singhania, Managing Director of JK Paper said that it has already being seen that the higher interest rates has resulted in deterioration… Read More »
A recent press report said that car manufacturers are bundling various offers and gifts to speed up the sluggish auto market. According to reports, Maruti Suzuki has offered discounts ranging from Rs. 20,000-Rs25,000 on Alto and Wagon R while Volkswagon India has offered a discount of Rs. 40,000 in the form of free insurance premium,… Read More »
A recent press report said that Corporation Bank has said that despite the continuous rise in interest rates, there has not been any corresponding rise in defaults. A top official of the bank told the press that there has not been any rise in defaults in the recent time, in spite of repeated policy rate… Read More »
A recent press report said that banks are planning to improve their car loan book this festive season. SBI and HDFC have reduced their margin requirements for Tata’s Nano to Rs. 15000. If the borrower opts to take loan from Punjab National Bank then no margin money has to be paid for the Nano. Reports… Read More »