According to a recent press report Mr. B. Muthuraman, President, Confederation of Indian Industry has said that the Central bank should put a pause to its interest rate hikes as the consumer and capital goods segments are showing slow growth According to Mr. Salil Bhandari, the Punjab, Haryana Chamber President, it is essential to ensure… Read More »
Purpose: For the purpose of construction of purchase of house Eligibility: Salaried/ businessmen/ self-employed capable of repaying the loan are eligible for the housing loan Quantum of Loan: 80% Value of House & Maximum up to Rs.50 Lakhs Rate of Interest: 10.90% Security: Loan would be secured by reg. equitable mortgage of property financed Repayment:… Read More »
A recent press report said that the rise in savings deposits is likely to build up pressures in the profitability of the banks as the cost of funds would be higher in the midst of slowing growth in loans and advances. Mr. Suman Chowdhury, the Head of Crisil Ratings said that the rise in savings… Read More »
A recent press release said that the Reserve Bank of India has expected that the monetary tightening together with reducing commodity prices would help the inflation rate to go down from December onwards touching 7 per cent by March end and might further moderate in the first half of 2012 – 2013. Though the growth… Read More »
A recent press report said that the Reserve Bank of India has relaxed the branch opening norms in Tier II cities in order to improve and encourage the domestic scheduled banks to expand their branches in these areas. Hence the domestic banks need not require any prior approval to set up branches in Tier II… Read More »
A recent press report said that Saudi Arabia’s central bank is not interested in buying distressed or speculative assets such as troubled European debt and gold. The world’s No. 1 oil exporter like most of its Gulf Arab neighbours is a major holder of dollar assets as its riyal currency is pegged to the greenback… Read More »
A recent press report said that Tamilnad Mercantile Bank (TMB) has announced a “Festival Bonanza” for home and car loans with reduced rate of interest. Mr. S. Selvan Rajadurai, General Manager, Business Development, TMB (HO), said that the bank has come up with a “Festival Bonanza” for home and car loans, offering competitive rate of… Read More »
A recent press report said that the RBI has cautioned banks not to issue demand drafts of Rs 50,000 and above on deposit of cash. The central bank said that any such disobedience of instructions will be viewed seriously. Reports said that the RBI has come across cases where few banks had issued demand drafts… Read More »
In 1976, the central government amalgamated Uttar Bihar Kshetriya Gramin Bank and Kosi Kshetriya Gramin Bank (transferor regional rural banks) sponsored by Central Bank of India in the state of Bihar into a single regional rural bank which began to be called as Uttar Bihar Gramin Bank with its head office at Muzaffarpur. Now area… Read More »
Central bank is a bank of a country that has control over the regulation of currency supplies and the banking industry. The central bank of a country plays a very important role in the stability of the money supply and the currency of the country. The central bank has the responsibility of regulating the banking… Read More »