A recent press report said that the Reserve Bank of India has asked select old generation private sector banks to improve governance standards Reports said that the RBI has asked banks to improve governance structure to make sure that there is minimum intervention of the board in the day-to-day operation. It also said that the… Read More »
A recent press report said that the Reserve Bank of India has RBI raised its repo rate by 0.25 percentage points to 8.25 per cent and the reverse repo rate to 7.25 per cent. Policy rates are up by a cumulative 350 basis points since March 2010. Reports said that the hike is due to… Read More »
A recent press report said that the Reserve Bank of India has asked select old generation private sector banks to improve governance standards Reports said that the RBI has asked banks to improve governance structure to make sure that there is minimum intervention of the board in the day-to-day operation. It also said that the… Read More »
A recent press report said that Corporation Bank has sought about Rs 300 crore from the Central Government to augment its future credit growth, and hopes to get the funding by the fiscal-end. Mr. Ramnath Pradeep, Chairman and Managing Director, Corporation Bank, told the press that the bank might need some support from the Government… Read More »
The Reserve Bank of India has imposed a monetary penalty of Rs.1.00 lakh (Rupees one lakh only) on Uma Co-operative Bank Limited Vadodara (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for non-adherence to Know Your Customer (KYC)… Read More »
A recent press report said that Corporation Bank has planned to grow its total business to Rs. 5 lakh crore by 2014-15, against Rs 2 lakh crore, according to Chairman and Managing Director Mr. Ramnath Pradeep. Reports said that the bank has planned to open 200 branches every year, with each branch growing its business… Read More »
A recent press report said that the Public sector lender, Allahabad Bank has planned to increase its overseas presence. The bank has planned to set up branches in four Asian cities, according to a senior official of the bank. Mr. J.P. Dua, Chairman and Managing Director of the bank said that the bank has approached… Read More »
According to a recent press report Mr. B.R. Bhat, General Manager, Corporation Bank said that the increasing income levels and shifting consumption pattern in rural areas are expected to provide an excess of opportunities to lenders and industries. Mr. B.R. Bhat in his speech at national conference on ‘Banking towards strengthening rural India: New paradigms… Read More »
A recent press report said that Mortgage Company LIC Housing Finance has joined the teaser home loan group by introducing ‘New Advantage 5’, under which the interest rate for home loans would remain fixed for the first five years. Reports said that LIC Housing Finance has planned to offer the loans at fixed interest rates… Read More »
A recent press report said that the secular rise in interest rates over the past year or so is disappointing home buyers and has also affected the housing finance companies (HFCs) which may have to consider with a fall in income in the changed scenario. Reports said that the effect has not affected the performance… Read More »