A recent press report said that credit card transactions in the month of August were 29.1% which is greater than the transactions in the same month last year of about Rs.8078.98 crores. The estimated Credit card transaction were aggregated to Rs. 6,259.42 crore in August 2010. The credit cards circulation has come down by 6.7%,… Read More »
A recent press report said that the net profit of Housing Development Financing Corporation (HDFC) bank has increased to 20 per cent to Rs. 971 crore for the second quarter ended September 30 of this fiscal year compared to the corresponding period of last year. Last year HDFC bank posted a net profit of Rs.… Read More »
A recent press report said that Dhanlaxmi Bank, as a part of its strategy has planned to focus on the self employed rather than salaried class to increase its retail portfolio especially home loans. According to Mr. Arvind Halli, Head – Retail Assets and Credit Card, Dhanlaxmi Bank, though the self employed customers seem more… Read More »
A recent press report said that HSBC Bank Middle East Limited (HSBC) had sponsored the second Oman Capital Markets Forum. Reports said that the two-day event was prearranged by Oman International Trade and Exhibitions (CITE) in association with Muscat Securities Market and the Capital Markets Authority of Oman. Reports also said that HSBC has offered… Read More »
A recent press report said that Central Bank of India has entered into a MoU with Maruti Suzuki India Limited in order to finance Maruti Car. The MoU was signed by Mr. B. N. S. Ratnakar, General Manager, on behalf of the Bank and Mr. R. S. Kalsi, Exeucitve Director on behalf of the Maruti… Read More »
A recent press report said that Canara Bank has reduced rates of interest on housing loans and home improvement loans by 50 basis points across all slabs and tenures as a special offer for the festival season. The rates will be applicable from October 10 to January 15, 2012. Reports said that he bank has… Read More »
Diversification is the mantra for any successful portfolio. It helps the investor in minimizing their risk and maximizing their gains over a period of time. Many advisors preach the following saying”Do not put all your eggs in one basket”. This rule should be followed religiously. In some cases, investors just get lucky by a hair… Read More »
A recent press release from HDFC bank said that the bank, which is the country’s second largest private lender, has entered into a strategic alliance with Diners Club International to offer Diners Club premium credit cards to the country. According to the statement of the bank, HDFC which is already the country’s largest credit card… Read More »
A recent press report stated that the US mortgage bankers who attended a conference in Chicago have encountered the anger of the consumer on account of the poor financial system that caused protest rallies throughout the country. In the Mortgage Bankers’ Association’s annual conference in Chicago, the attendees of felt that their industry was being… Read More »
As per a recent press report, the Muthoot Exchange which is an extended subsidiary of Muthoot Group has entered into a remittance agreement with Mercantile Bank Limited operating in Bangladesh. Muthoot Exchange has been into the business of money transfer in Dubai for the past two years. There is a large population of Bangladeshi in… Read More »