A recent press report said that the Export-Import Bank of India has approved a concessional loan of 13 million US dollars to finance the construction of a solar panel factory in southern Mozambique. Reports said that the credit agreement was signed in Maputo by Mozambique’s Minister of Finance, Mr. Manuel Chang, and Exim-Bank chairman, Mr.TCA… Read More »
A recent press report said that Mahindra Reva Electric Vehicles Private Limited (Mahindra REVA), pioneer of electric vehicle technology in India, announced that it has tied-up with the Export-Import Bank of India (Exim Bank) for a loan of Rs 50 crore. Exim Bank will finance for the vehicle manufacturer under its Research & Development (R&D)… Read More »
A recent press report said that Exim Bank (Export-Import Bank of India) is expecting products benchmarked to government security (G-sec), than base or benchmark prime lending rate (BPLR), to gain more popularity among exporters. Mr. T C A Ranganathan, Chairman and Managing Director, Exim Bank said that the Companies should choose loans benchmarked to government… Read More »
A recent press report said that Vijaya Bank has taken up the development of a circle in Mangalore city named after its founder chairman. Reports said that the Dakshina Kannada Deputy Commissioner, Dr N.S. Channappagowda, laid the foundation stone for the development of A.B. Shetty Circle in Mangalore city. A bank has taken up beautification… Read More »
According to a recent press report the Reserve Bank of India’s quarterly data, has said that SBI group’s share in deposits fell to 21.6 per cent in March 2011 from 22.5 per cent at the end of 2010. Government-owned banks improved their share in deposits from 51.9 per cent to 53 per cent. Reports said… Read More »
A recent press report said that Vijaya Bank has started the process of increasing loan repayment periods in order to enhance retail borrowers come out of the possible financial stress following the increase in interest rates in the recent months,. Mr. H.S. Upendra Kamath, Chairman and Managing Director of the bank, said about the extension… Read More »
A recent press report said that Standard Chartered Bank has partnered with the Economic Development Board of Singapore to help its Indian clients expand in Asia by leveraging Singapore as a hub. Mr. Sumit Aggarwal, Head, Transaction Banking, Singapore, Standard Chartered Bank said that the bank has a good reputation in both Singapore and India… Read More »
A recent press report said that Oriental Bank of Commerce (OBC) has entered the credit card segment through a tie-up with SBI Cards. The co-branded credit cards, will be both magnetic stripe and chip-based. The cards are to be launched out through OBC branches around Diwali. Reports said that the bank is one of the… Read More »
The Reserve Bank of India has imposed a penalty of Rs. Five lakh (Rupees five lakh only) on Karnataka Bank Limited for non-compliance with its directives on derivatives. The penalty on Karnataka Bank Limited has been imposed for failing to carry out proper due diligence on user appropriateness and suitability of products and failing to… Read More »
A recent press report said that State Bank of India has adopted a scheme called Community Services Banking under which, SBI Branch Manager Mr. Porompat S. Nikunchand Singh, presented one steel Almirah to the authority of the Kiyamgei Ideal High school during a simple function held recently at the school premises. Mr. S Nikulchand, said… Read More »