According to a recent press report Mr. K.C .Chakrabarty, deputy governor, Reserve Bank of India has said the central bank has not banned the controversial teaser rates, but said banks may have to make additional provisioning for such loans. Recently mortgage major HDFC launched a special home loan product giving borrowers the choice to choose… Read More »
A recent press report said that Union Bank of India has a new Executive Director, Mr. Suresh Kumar Jain. Mr. Jain has come in the place of Mr. S. C. Kalia, who has now superannuated. Mr. Jain is the former General Manager of Bank of India and has also worked in the London and Hong… Read More »
A recent press report said that Aviva is likely to offer a discount on the face value to Syndicate Bank. The consumer goods maker Dabur India owns 74% stake in Aviva Life Insurance Company India while UK-based insurer Aviva Group owns the rest. Syndicate Bank’s net profit rose 29.3% to Rs. 343.15 crore on 30.9%… Read More »
A recent press report said that Public sector Indian Bank has launched e-Treasury service combining the domestic and foreign exchange trading on a common software package. Mr. T. M Bhasin, Indian Bank Chairman and Managing Director said that the package analyses profitability, risk and costing aspects from different markets. Reports said that the new building… Read More »
A recent press report said that State-run Allahabad Bank has hiked interest rates on deposits for less than Rs 5 crore with term ranging from one year to less than two years by 50 basis points to 9.5 per cent. The bank has planned to revise the interest rate upward by 0.50 per cent per… Read More »
A recent press report said that HDFC Bank, the second largest private bank in the country, has opened a branch in Port Blair, Andaman Nicobar archipelago. The branch will not only provide services to the 4-lakh local population and the residents of the 37 inhabited islands, it is also set to benefit tourists from other… Read More »
A recent press report said that Corporation Bank has received the first prize under the ‘National Award for Excellence in Lending to Micro Enterprises’ for 2010-11 from the Union Ministry of Micro, Small and Medium Enterprises. Reports said that the award was presented by the President, Ms Pratibha Devisingh Patil, in New Delhi. The award… Read More »
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 »
A recent press report said that Shri Suresh Kumar Jain has assumed charge as the Executive Director of Union Bank of India on 1st September 2011. He is a Gold Medalist in College and University with B.Sc (Hons.) & M.A. (Economics); He has been a professional Banker for over 33 years. He has worked in… Read More »
The country’s largest private sector bank, ICICI Bank, opened its second retail branch in Singapore. Reports said that the branch is to offer savings and transaction banking solutions for meeting local needs through fixed deposits, savings and current accounts. Reports also said that bank has offered its customers, ICICI Bank’s call and remit facility giving… Read More »