According to a recent press report State Bank of India has planned to raise overseas fund to meet the foreign currency requirements of its customers. In his statement Mr. Hemant Contractor, Managing Director of International Operations of SBI said that the bank would decide on raising overseas funds next month. The bank has already planned… Read More »
A recent press report said that the banks have decided to extend the tenure of the home loans after stimulation of the Government and the fear of risks to asset quality. Many public sector banks such as State Bank of India, Central Bank, Syndicate Bank and Canara Bank have decided to increase the period of… Read More »
A recent press report said that HDFC bank had planned to bring back Diner’s Club, the oldest card in India. The premier charge card was sold by Citi to in the year 2008, will soon. The card is expected to be relaunched by an affiliation with HDFC Bank. HDFC bank will be a franchise for… Read More »
According to a recent research report from Crisil the rising interest rates are likely to push up the equated monthly installments (EMIs) of home loan borrowers by Rs 6,000 crore annually. Reports said that the higher EMIs and a slowdown in economic growth will cause in the rise of non-performing assets (NPAs) of financiers. It… Read More »
According to a recent press release, the Reserve Bank of India has confirmed that the credit offered to farmers through the Kisan credit card would be treated as direct finance for agriculture under priority sector lending. Reserve Bank of India has announced that lending money through Kisan Credit card is only allowed for agriculture… Read More »
A recent press release said that Oriental Bank of Commerce, the public sector bank has announced to offer Pure 24 Carat gold coins of 999.9 fineness as festival offer. The bank offers the pure 24 carat gold coins at different discounts. The bank offers gold coins in the denominations of 5 grams, 8 grams, and… Read More »
A recent report from the Reserve Bank of India said that the credit pick – up are coming up in the busy season for the banks. As per the data released by the RBI, scheduled commercial banks have disbursed loans to a total amount of Rs. 55, 443 crore. According to bankers, due to high… Read More »
A recent press report said that Oriental Bank of Commerce has opened a cheque truncation centre in Chennai which is the first ever bank to open up cheque truncation in Chennai. Cheque truncation is a system where the cheque that has to be encashed is scanned and the scanned image of the cheque is sent… Read More »
A recent press report said that the Government has asked the public sector banks who are currently extening their business into insurance, which is capital intensive business, are asked to concentrate on their core business. The Government has asked the banks to postpone their plans until the end of this financial year because it has… Read More »
A recent press report said that the RBI has announced that the Supervision of all Microfinance institutions will be under its control and that there is no plan of outsourcing the Regulatory framework regarding the MFIs Function. Dr. K.C. Chakrabarty, Deputy Governor, in a seminar said that the RBI’s main Goal is to make the… Read More »