According to a recent press report the government has reported that provisioning against the non-performing assets (NPAs) of State Bank of India (SBI) has increased more than three-fold to Rs 8,792 crore in 2010-11 from Rs 2,474 crore in 2008-09 due to a rise in bad debt. Mr. Pranab Mukherjee, Finance Minister said that the… Read More »
A recent press report said that the Reserve Bank of India has RBI raised its repo rate by 0.25 percentage points to 8.25 per cent and the reverse repo rate to 7.25 per cent. Policy rates are up by a cumulative 350 basis points since March 2010. Reports said that the hike is due to… Read More »
According to a recent press report said that the finance ministry, in an attempt to extend the reach of banks in rural and semi-urban areas, has asked public sector banks to integrate their operations with regional rural banks (RRBs). A finance ministry official said that the charges for various banking services used by customers of… Read More »
A recent press report said that Corporation Bank has sought about Rs 300 crore from the Central Government to augment its future credit growth, and hopes to get the funding by the fiscal-end. Mr. Ramnath Pradeep, Chairman and Managing Director, Corporation Bank, told the press that the bank might need some support from the Government… Read More »
According to a recent press report National Collateral Management Services, one of the major agriculture-infrastructure players, and L&T Finance has entered into a strategic partnership to assist industries, traders and farmers with working capital requirements at all stages of the supply chain. Mr Dinanath Dubhashi, CEO, L&T Finance, said the tie up will facilitate farmers… Read More »
A recent press report said that Allahabad Bank has entered into an agreement with Tata BP Solar for the implementation of ‘capital subsidy cum refinance scheme for installation of solar off-grid (photo voltaic and thermal) and decentralization applications’ under the Jawaharlal Nehru National Solar Mission announced by the Ministry of New and Renewable Energy. According… Read More »
A recent press report said that National Housing Bank seems to be in agreement with the stance taken by Reserve Bank of India that prepayment penalty on floating rate home loans be removed. Reports said that NHB was planning to soon come up with directives which will instruct housing finance companies (HFCs) to give up… Read More »
A recent press report said that Country’s largest private lender ICICI Bank has planned recruit up to 6,000 people this fiscal to help its business growth and expansion. Ms. Chanda Kochhar, Managing Director and chief Executive of the bank said that the bank’s business was growing between 18 to 20 per cent and the bank… Read More »
According to a recent press report Mr. B.R. Bhat, General Manager, Corporation Bank said that the increasing income levels and shifting consumption pattern in rural areas are expected to provide an excess of opportunities to lenders and industries. Mr. B.R. Bhat in his speech at national conference on ‘Banking towards strengthening rural India: New paradigms… Read More »
A recent press report said that the secular rise in interest rates over the past year or so is disappointing home buyers and has also affected the housing finance companies (HFCs) which may have to consider with a fall in income in the changed scenario. Reports said that the effect has not affected the performance… Read More »