A recent press report said that Bajaj Finance Limited, a non-banking financial company (NBFC), has launched a co-branded credit card with Standard Chartered Bank. The company has initially planned to focus on captive clients. It has planned to issue 150,000-200,000 cards within 12 months of starting operations. Reports said that the company has planned to… Read More »
According to a recent press report the Reserve Bank of India, banking and monetary regulator of the country has penalized a Gujarat based cooperative bank on grounds of non adherence to its directives. The regulator has fined Mansa Nagarik Sahakari Bank Ltd (MNSBL). The apex bank issued the penalty on the bank on charges of… Read More »
A recent press report from SBI said that the unappealing returns and moderation in growth has made the bank to postpone the plans of raising funds overseas. The country’s largest lender had planned to raise funds amounting to $1 billion by means of medium-term notes. But, it has been deferred on account of lack in… Read More »
A recent press report said that the largest lender of the country, State Bank of India has planned to enter into the mortgage market of the United Kingdom. Reports said that the bank has planned to take this step in order to expand its retail business even further. The lender would begin with the category… Read More »
A recent press report said that the National Housing Bank which regulates HFCs has planned to waive pre-payment charges on floating rate housing loans. MR. R Verma, chairman and managing director, NHB told the press that it will soon bring guidelines to remove prepayment penalties on all accounts. He said that they were currently examining… Read More »
A recent press report said that the unlike ICICI and HDFC, other banks and housing finance firms might not come out with schemes offering dual interest rate housing loans on the back of higher provisioning norms stipulated by the Reserve Bank of India (RBI) for such advances. Reports said that Edelweiss Housing Finance (EHFL) which… Read More »
A recent press report states that the interbank call rate plummeted down in spite of being the second day of the new Reporting Fortnight from the start. This is because the banks have fulfilled their needs for reserve by means of borrowing from the Reserve Bank of India’s repo auction. The dealers said that the… Read More »
A fixed rate home loan scheme offers home loans at a fixed rate which will remain fixed for the complete tenure of the loan. The fixed rate home loan scheme is offered by Axis Bank under the name “Nischint”. According to the scheme there will not be any changes in the EMI and the bank… Read More »
A recent press report said that the state of Kerala is likely to set benchmark for all by trying to get the top place and being the first to achieve 100% financial inclusion in the country. Ms. Archana Bhargava, executive director of Canara Bank told the press that an announcement confirming that the state likely… Read More »
As per a recent press report it is seen that decelerating credit demand, increased provision for bad debts and low margins due to tight monetary policies are likely to affect the bank profits of September quarter to fall. The weakening investment environment has caused serious impact in credit growth and reports said that this movement… Read More »