A recent press report said that Punjab National Bank (PNB) has opened a representative office Sydney. Mr. K. R. Kamath, chairman and managing director of the bank said that the bank is likely to get regulatory approval from authorities in both countries to upgrade this representative office into a full-fledged branch within a year. Reports… Read More »
A recent press report said that Banks’ discrimination of retail borrowers will reduce penal charges under many excuses which improve banks’ profits if the Reserve Bank of India implements the recommendations of a committee on customer service in banks. Reports also said that the retail depositors do not have to stuff their money under the… Read More »
A recent press report said that Bank of Maharashtra is likely to hike its base rate by 25 basis points from 1st October 2011, following the latest policy rate hike by the Reserve Bank of India. Mr. A. S. Bhattacharya, Chairman and Managing Director of the bank told the press that the bank has planned… Read More »
A recent press report said that YES Bank has signed a memorandum of understanding with the Indian Army for the YES Vijay Salary Account, which has been designed exclusively to meet the needs of the Army personnel. Reports said that the agreement has been signed by Dr Rana Kapoor, Founder, Managing Director & CEO, YES… Read More »
A recent press report said that YES Bank and Malayan Banking Berhad (Maybank), a Malaysian bank has entered into an agreement to collaborate on cross-border investment banking advisory, corporate banking, trade finance, remittance and other allied services. Dr Rana Kapoor, Founder, Managing Director and CEO, YES Bank, said that the banks tie up with Maybank… Read More »
Edelweiss Housing Finance Ltd is likely to introduce a home loan without having to liquidate your lifetime savings for the down payment. According to reports, if a person wants to buy a property worth Rs one crore, then instead of liquidating your investments to make the down payment of Rs 20 lakh you can give… Read More »
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 pres report said that Dena Bank has launched a loan mela of its own under which it offers a 25 basis points discount on new home and auto loans, besides halving the processing fee. Reports said that the benefits under festival offer will be effective from October 1 to December 31, 2011. The… Read More »
A recent press reports said that banks are now under RBI scanner regarding any kind of criminal behavior showed by them in terms of customer service. The RBI has put forward measures on the basis of which banks would be held accountable. Banks will have to comply with BCSBI (Banking Codes and Standards Board of… Read More »