A recent press report said that the Textiles Ministry is working on a plan to restructure the loans borrowed by the textiles units from the government at concessional interest rates. The restructure of loans borrowed is expected to give relief to the textile units. According to an official statement the restructuring plan might consider moratorium… Read More »
A recent press report said that the Government has asked the public sector banks who are currently extending 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 report from Insurance Regulatory and Development Authority (IRDA) said that all the pension plans must provide pension the policyholders, which is exactly expected out of them. According to Mr.J.Hari Narayanan, IRDA chairman, there are traditional pension plans where annuity may or may not be available. This does not serve the exact purpose of… Read More »
According to a recent press release from the Reserve Bank of India, decisions regarding financial inclusion were taken at the State Level Bankers’ Committee (SLBC) meeting chaired by Dr.D.Subbarao, the RBI Governor. The decisions included that the banks in Rajasthan would ensure that all 3,883 identified villages with a population of more than 2,000 are… Read More »
A recent press report said that Maharashtra Government has planned to extend the crop loan limit to Rs. 1 lakh from Rs 50,000 earlier under zero per cent interest rate scheme. Reports said that the decision was taken at the weekly Cabinet meeting chaired by Chief Minister Mr. Prithviraj Chavan. He said that the extension… Read More »
A recent press report said that the Reserve Bank of India, in its recent notification has made it clear that banks that offer loan to farmers under the Kisan Credit Card will be treated as direct finance for agriculture under priority sector lending. The RBI reports mentioned that the credit under the KCC is mainly… Read More »
The Mutual Fund industry was just trying to cope up from SEBI’s blow of banning entry loads on mutual funds units, they have been struck with another lightening. Now, RBI (Reserve Bank of India) has come up with a new regulation that banks need to cap their investments in the liquid schemes of mutual funds at 10%… Read More »
A couple of decades back, not many people realized the value of a Mutual Fund or the way its transactions are to be dealt. They thought of Mutual Funds to be instruments that can help them gain a lot of profit over their investment plus cost. But, when a wave of disaster hit them, it… Read More »
A recent press report said that Indian banks have told the Reserve Bank of India, which has raised rates 13 times since February 2010 to control inflation to change course and keep interest rates steady as they fear asset quality will be further impaired with high interest rates and a slowdown in growth. Reports said… Read More »
A recent press report said that Indian Overseas Bank has planned to come up with yet another branch in Bangkok, Thailand. Mr. M. Narendra chairman and managing director of the bank told the press about the bank’s plan to open another branches. Mr. Narendra, regarding the issue said that the bank has applied to the… Read More »