A recent press report said that banks and housing finance firms are avoiding the ICICI and HDFC dual interest rate housing loan schemes due to the higher provisioning norms stipulated by the RBI for such advances. The RBI has recently fixed an additional 2 percent standard asset provisioning norm for dual rate loans (popularly known… Read More »
A recent press report said that the Gold loan company Muthoot Finance has reported a net profit of 88 per cent to Rs.215 crore for the second quarter ended September 30, 2011 which was Rs.115 crore during the same period last year. The total income of the company which was Rs.529 crore during the second… Read More »
A recent press report said that the State Bank of India would be the major beneficiary of the Government’s recapitalization programme for banks. The bank might get around Rs.8000 to Rs.8500 through various instruments such as preference shares. The bank might issue follow on public offer and rights issue once the capital base is increased.… Read More »
A recent press report said that the Bank of Maharashtra has announced a net profit that has been almost doubled than the corresponding period last year. The bank has reported a net profit of 92 per cent to Rs. 100 crore for the second quarter ended September 2011 against Rs. 52 crore during the corresponding… 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 the roles of valuers have become important in this age of globalisation and liberalization and that they have occupied an important role in stabilising the economy besides generating more revenues for the government. Mr. P.K. Thiagarajan, national president, Institution of Valuers said that the RBI has made it mandatory… Read More »
A recent press report said that the Indian companies have currently stopped their expansion plans as the Reserve Bank of India has increased the key interest rates for the 13th time since March 2010. The Chief Executive Officer of a secondary steel manufacturer said that they have held back their plans of expanding brown field… 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 the Kerala – based Federal Bank has reported a net profit of Rs. 191.6 crore for the second quarter ended September, 2011 which has risen 36 per cent against the net profit of the corresponding period last year. The bank said that in spite of the challenging economic condition… Read More »
A recent press report said that inflation which is currently prevailing high would slide down in the coming months. In spite of ardent efforts made by the Reserve Bank of India by tightening the monetary policy in order to curb the inflation, the inflation rate is above the comfort zone of the Government which is… Read More »