Recent press reports said that the Muthoot group, which is well known for its gold loan segment has planned to set up a new company, Muthoot Housing Finance which will provide home loan and complete subsidy of Muthoot Fin. Corp. The company has planned to issue loans ranging from three lakhs to 10 lakhs with… Read More »
According to a recent press report Indian bank, a major Indian Commercial Bank has planned to raise Rs 4,500 crore in order to expand its overseas lending. The bank has decided to list the bond issue on the Singapore stock exchange and has decided to raise funds through medium-term notes in two or three tranches… Read More »
Recent reports said that Allahabad bank, a leading public sector commercial bank in India has recorded Rs.2,07,785 crore as its total business as on end of December 2010 against Rs.1, 59, 843 crore in the previous year. The bank has achieved 30 % growth in its total business where it has decided to cross Rs.400000… Read More »
State-run banks will take a strike of Rs 4,000 crore this financial year with the banking regulator directing these lenders to provide for the pension liabilities of their retired staffs in the balance sheet for ‘10-11. This is step is likely going to reflect on the profitability of the banks. Banks have asked for the… Read More »
Credit from banks in India has increased over 22% annually to touch Rs. 40.76 lakh crore towards the end of the last fiscal. This increase in credit is likely to indicate the boosting in the industrial activity. This is recorded as of April 8th of this year as against the last year’s amount of 33.37… Read More »
According to recent press reports the State Bank of India has raised its base rate by 25 basis points (a basis point is 0.01 percentage points), before the release of RBI’s monetary policy review. The new base rate of SBI from 25th April 2011 would be 8.50%. Reports said that there are fair chances for… Read More »
The amount by which assets exceed liabilities is called the net worth. This term is applicable to both companies and individuals. In case of an individual, it is the difference between the assets and liabilities of the individual. In business, net worth (sometimes called net assets) is the total assets minus total outside liabilities of an… Read More »
According to Association of Mutual Funds in India (AMFI) guidelines, investments made through third-party cheques will not be accepted by mutual funds. A cheque issued and signed by any person other than the first holder of the investment is treated as a third-party cheque. There are a few exceptions applicable to this rule too. Payments… Read More »
According to recent reports, Bajaj Auto, India’s second largest two wheeler makers have signed up with State Bank of India to offer finance to its dealers. The tie up will offer cash credit ranging from Rs. 25-lakh-Rs 5-crore to the dealers of Bajaj Auto. SBI has already captured a significant role in offering loans at… Read More »
Using cheques for financial transaction is more frequent these days. The use of cheque as a financial instrument is done in the good faith that the cheque will be honored and cleared when given in for processing in a bank. The condition when the actual financial transaction is not possible by the cheque or the… Read More »