A recent press report said that the Finance Ministry would make discussions on the modalities and ways for the capitalization of financial institutions including banks. The Department of Financial services have formed a committee which is expected to make a presentation of the issues involved in capitalization of financial institutions. The secretaries of the Department… Read More »
A recent press report said that Union Bank has framed mid – corporate banking vertical from micro, small and medium enterprises (MSME) banking vertical. This plan has been implemented by focusing on the credit requirements of companies with a turnover ranging from 100 – 500 crore. The bank has carried out restructuring last month and… Read More »
According to a recent press report the Reserve Bank of India is determined to do policy review in between pause and rise in the Repo rate. Reports said that the RBI has a plan to increase the rates, but the Industry lobbies are against the tightening. The RBI refusal feels that the bank is anxiety… Read More »
According to a recent press report State Bank of Bikaner and Jaipur, has planned to offer instant car loans online for customers with clean financial record. Reports said that borrowers interested in the offer can login the website, sbbjbank.com and apply online. If the applicant is eligible for the loan a sanction letter will be… Read More »
According to a recent press report the net profit of Dewan Housing finance Limited has gone up to Rs. 72crore from Rs. 58 crore when compared with the previous year September quarter 30, 2010. Mr. Prashant Chaturvedi, Head Finance Dewan Housing finance Limited said that the extraordinary income Rs 35 crore which the company already… Read More »
According to a recent press report, Dalmier India Commercial vehicle (DICV) and HDFC Bank have tied up for financing commercial vehicles. The CEO and Managing Director Mr. Marc Llistosella of DICV and Mr.Aditya Puri, Managing Director,HDFC Bank signed the MoU for their combined operations. Reports said that HDFC Bank will analyse the requirements of their… Read More »
According to the recent report from Insurance Regulatory and Development Authority, the apex body has planned create a database that will make sure that the insurers get the information regarding the claim history of individual borrowers. Reports said that the information collected by the IRDA will be a one single data that helps the insurers… Read More »
According to a recent press repot, Mr. George Alexander, Managing Director, Muthoot Finance Limited Company has said that the company has recorded growth in profit of about 88 percent in the second quarter. The company has attained a net profit Rs. 215 core during the second quarter September 30, which is Rs. 100 core more… Read More »
According to a recent press report Bank of Maharashtra has taken an effort to make the defaulters to repay their Loans. The MAO (Many against One) is the new tactic followed by the bank to recover the loans. Mr. A.S. Bhattacharya, Chairman and Managing Director, of the bank said that there are better results in… Read More »
According to a recent press report, Bank of Maharashtra has taken steps to make borrowers repay their dues. The bank has adapted a new style called “MAO” which means ‘Many against one’. The MAO comprises of staff and official, the role of the MAO is to persuade the borrowers to repay their loans. Reports said… Read More »