According to a recent press release the Reserve Bank of India has said that the Non residents of India (NRIs) or the persons of Indian origin are now allowed to hold their accounts in the country in any convertible currency. Earlier, Foreign Currency Non Resident (FCNR) bank Account holders were allowed to hold their accounts… Read More »
A recent press report said that Karur Vysya Bank (KVB), the oldest private sector bank is undergoing business re – engineering process as a preparation for the age ahead. According to Mr. M.Venkataraman, Managing Director and Chief Executive Officer of the Bank the bank wants the public to see the difference with the bank in… Read More »
A recent press report said that the National Bank for Agriculture and Rural Development (NABARD) has planned to implement a new scheme of improving share capital and ensuring safety of deposit, which has been obtained from two European countries viz. Germany and Hungary. The idea behind the scheme is to encourage the country’s primary agriculture… Read More »
According to a recent press report from ICRA, a credit rating agency, the lenders are anticipated to restructure the loans amounting to Rs. 1 lakh crore over the next 12 – 18 months, keeping in mind the rising interests and input costs and project delays affecting the companies severely. Mr. Naresh Takkar, the Managing Director… Read More »
A recent press report said that the Government of India has appointed two more members on the Central Board of Directors of the Reserve Bank of India. According to reports the new Directors are Shri Y.H. Malegam, who has been re-appointed from October 7, 2011 and Prof. M.V. Rajeev Gowda who has been appointed from… Read More »
A recent press report said that Syndicate Bank, a public sector bank, and Karnataka Vikas Grameena Bank, a Adhara-based regional rural bank, have planned to jointly instituting ‘professor chair on agricultural finance’ at the University of Agricultural Sciences, Dharwad. Reports said that Mr. Basant Seth, the Chairman and Managing Director of Syndicate Bank, has planned… Read More »
A recent press report said that the Reserve Bank of India has conveyed their approval for the re-appointment of Dr. V. A. Joseph, as Managing Director & CEO of South Indian Bank Ltd for a period of three years, with effect from October 01, 2011 till September 30, 2014. Recently the bank has recorded 24… Read More »
A recent press report said that Reliance Power has received Reserve Bank of India’s approval for raising $2.2 billion loan from the US and Chinese banks, for the 3,960 mw-Sasan power project in Madhya Pradesh. Reports said that $1.1 billion would be offered by Chinese banks, including Bank of China, China Development Bank and Export… Read More »
A recent press report said that the Reserve Bank of India (RBI) has penalised Gujarat-based co-operative sector lender – Porbandar Vibhagiya Nagarik Sahakari Bank (PVNSB) – for violation of its guidelines. The RBI has imposed a fine of Rs. 1 lakh on PVNSB for violating RBI guidelines on ‘Know Your Customer (KYC)’ norms as well… Read More »
A recent press report said that the National Housing Bank (NHB) has planned to take a decision on whether there will be a complete on floating-rate home loan. According to Mr. R. V. Verma, NHB chairman and managing director told the press that the decision will be in the best interest of the borrowers. He… Read More »