A recent press report said that top bankers have told the Reserve Bank of India that it was time to take a break from its monetary tightening cycle. Reports said that the bankers told the RBI at the pre-monetary policy review consultation meeting that its hike in short-term interest to control inflation has muted credit… Read More »
According to a recent press report the Reserve Bank of India, banking and monetary regulator of the country has penalized a Gujarat based cooperative bank on grounds of non adherence to its directives. The regulator has fined Mansa Nagarik Sahakari Bank Ltd (MNSBL). The apex bank issued the penalty on the bank on charges of… Read More »
A recent press report from SBI said that the unappealing returns and moderation in growth has made the bank to postpone the plans of raising funds overseas. The country’s largest lender had planned to raise funds amounting to $1 billion by means of medium-term notes. But, it has been deferred on account of lack in… Read More »
A recent press report said that the Reserve Bank of India would not give up hiking the interest rates until the inflation comes down to the desirable limit. According to Dr. D.Subbarao, the Governor of the RBI, the poor people are being affected by the inflation. Hence, until the inflation rate comes down the interest… 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 »
A recent press report said that the Government has decided to introduce the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2001, during the Winter Session of Parliament. According to the new Bill, it will modify nine sections of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI)… Read More »
A recent press report said that private sector lender YES Bank has planned to give a big booster to its retail banking operations. The bank has planned to add several new products to its retail portfolio in order to enhance its offerings to the customer. Amongst the new product lines to be introduced include Loan… Read More »
A recent press report said that Public sector lender UCO Bank has announced the appointment of Mr. R Chandrasekharan as the new executive director for the bank. Mr. R Chandrasekharan has a banking experience of about 35 years; he has worked across different segments of banking operations. He started his career as probationary officer of… Read More »
A recent press report said that the tenure of education loans is expected to be increased to 15 years. At present the repayment period for the same has been set at 5 to 7 years. Reports said that the pressure of installments is going to be lightened with the repayment period getting extended. The extension… Read More »
A recent press report said that State Bank of India has set higher deposit targets for its business branches in urban centres and is likely to tap high net worth individuals (HNIs). Reports said that the bank has asked its managers in Tier III towns to insistently sell its mortgage-backed products like car loan and… Read More »