A recent press report said that the Reserve Bank of India (RBI) has agreed to a request proposal by the state government to instruct various banks working in the state to provide housing loan under the differential rate of interest scheme (DRI) to home loan applicants below the Below Poverty Line (BPL). Reports said that… Read More »
A recent press report said that Mr. D. Subbarao, governor, Reserve Bank of India has favored bifurcation of the posts of chairman and managing director in state-run banks. He said that the experience of such a split in the private sector has been satisfactory. He said that the central bank was in discussions with the… Read More »
A recent press report has said that State Bank of India (SBI) and Export-Import Bank of India (Exim Bank) have planned to provide a 14-year loan to a Spanish solar energy producer Grupo T- Solar Global SA and U.S.-based Astonfield Renewable Resources for setting up a solar plant in the country. Mr. Ameet Shah, co-… Read More »
A recent press report said that Corporation Bank is unlikely to increase the lending rate Mr. Ramnath Pradeep, Chairman and Managing Director of the bank, told the press that there is a need for the banks to take a call on increasing interest rates but the bank has not planed to increase the rates this… Read More »
A recent press report said that a Parliamentary panel wants the Reserve Bank of India (RBI) to frame guidelines on pricing of factoring services in order to prevent any “exploitative practices” by ‘factors’. It also wants the rates charged by ‘factors’ not be higher than those charged by banks for receivable financing. These suggestions form… Read More »
A recent press report said that Vijaya Bank has taken up the development of a circle in Mangalore city named after its founder chairman. Reports said that the Dakshina Kannada Deputy Commissioner, Dr N.S. Channappagowda, laid the foundation stone for the development of A.B. Shetty Circle in Mangalore city. A bank has taken up beautification… Read More »
A recent press report said that Union Bank and the State Bank of Travancore (SBT) have raised their lending rates by 50 basis points, following the hike in key policy rates by the Reserve Bank last month. Union Bank’s new base rate, or the minimum lending rate, would be 10.75 percent per annum, while SBT”s… Read More »
A recent press report said that Kotak Mahindra Bank has entered into a business co-operation arrangement with Malaysia based CIMB Group for cross-border trade in select countries in the India-Asean corridor. Reports said that the co-operation would cover various businesses of mutual interest, including merger and advisory, trade finance and other corporate solutions, and NRI… 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 Axis Bank, India’s third largest private Bank, has tied up with Malayan Banking Berhad (Maybank), Malaysia, for remitting money from Malaysia to beneficiary accounts in India. The bank has signed an agreement with Maybank for offering remittance facility to India, under Maybank Money Express (MME) service. According to reports… Read More »