In Case You Missed It: New Rules for Cash Deposits
It is compulsory for you to provide both your PAN details and Aadhaar card if you deposit more than Rs. 20 lakhs in a year. Read on for the details.
Tag Archives: deposits
Investing in Equities: Risk or Reward?
Broccoli soup or Grilled Chicken? Salad or Burgers? You probably did not pick the Broccoli soup but we all know that it’s healthy. When it comes to investments, people have their own preferences with gold, land and FDs, but not many pick equities. Equities are considered risky and some even consider them akin to… Read More »
Bank of Maharashtra has planned to offload Rs 9,000 crore bulk deposits by March 2012
A recent press report said that Bank of Maharashtra (BoM) has planned to offload its entire mass of bulk deposits of Rs 9,000 crore by March next year in order to control cost and preserve margin. Mr. Anup Sankar Bhattacharya, Chairman and managing director of the bank said that banks are facing rising cost of… Read More »
Bank of India Has Reported 29% fall in Its Net Profit
A recent press report said that the increase in cost of deposits and higher provisions have resulted in the fall in net profit for Bank of India in the April-June 2011 quarter. The net profit of the bank is at Rs. 517.50 crore in the quarter which is 29 per cent lower compared with Rs… Read More »
Rising Borrowing Cost Has Slackened Q1 Loan Growth
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 »
Banks Are Losing Trading Interest in Certificates of Deposits As Liquidity Woes Have Improved
A recent press report said that banks are losing trading interest in certificates of deposits because the liquidity position of the banks has started improving. In addition to this the RBI has also extended the deadline for banks to keep their investments below 10% in debt-oriented mutual funds which has further reduced the redemption pressure… Read More »
Bank loans have grown despite rate hike
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 »