A recent press report said that Pallavan Grama Bank, the widely known regional rural lender has implemented mobile banking technology in terms of Kisan credit card. The bank has started the process on a pilot basis. Reports said that the National Bank for Agriculture and Rural Development (NABARD) has offered the project, funds worth Rs… Read More »
A recent press report said that HSBC Bank Middle East Limited (HSBC) had sponsored the second Oman Capital Markets Forum. Reports said that the two-day event was prearranged by Oman International Trade and Exhibitions (CITE) in association with Muscat Securities Market and the Capital Markets Authority of Oman. Reports also said that HSBC has offered… Read More »
According to the Reserve Bank of India’s balance of payments data released recently, the net direct investment into India has increased significantly by $7.2 billion during the April to June 2011 period, against $2.9 billion in the corresponding quarter last year. Reports said that the net loans offered by banks were at $11.5 billion compared… Read More »
A recent press report said that Central Bank of India has entered into a MoU with Maruti Suzuki India Limited in order to finance Maruti Car. The MoU was signed by Mr. B. N. S. Ratnakar, General Manager, on behalf of the Bank and Mr. R. S. Kalsi, Exeucitve Director on behalf of the Maruti… Read More »
A recent press report said that BharatBenz, the exclusive truck brand for the Indian market by Daimler, world’s leading producer of Commercial Vehicles, signed a Memorandum of Understanding with the country’s no.1 auto loan player HDFC bank for financing its commercial vehicles. According to the MoU HDFC Bank becomes the first preferred financier for BharatBenz… Read More »
According to a recent press release, ICICI bank has announced that it would lend home loans at a fixed rate for the first two years. The interest rates would remain fixed for the first two years and after two years the rate would be converted into floating interest rate. The Base rate and Margin would… Read More »
A recent press report said that the Indian Infrastructure Finance Company would be under the regulations of the Reserve Bank of India. A proposal regarding this subject has been approved by the Union Cabinet. Regarding this Ms. Ambika Soni, Minister of Information and Broadcasting , had said that IIFCL would operate under the regulations of… Read More »
A recent press report has said that Allahabad Bank has now teamed up with Aditya Birla Money (ABM), the wealth management arm of Aditya Birla Financial Services Group (ABFSG), in order to offer online trading facilities to customers. Now the bank expects to offer its customers the convenience of investing in various financial products online.… Read More »
A recent press report said that the Reserve Bank of India would not give up hiking the interest rates until the inflation comes down to the desirable limit. According to Dr. D.Subbarao, the Governor of the RBI, the poor people are being affected by the inflation. Hence, until the inflation rate comes down the interest… Read More »
A recent press report said that the RBI has penalised Gujarat-based cooperative lender Mansa Nagarik Sahakari Bank Limited (MNSBL) for violation of Anti-Money Laundering (AML) guidelines. The RBI has imposed a penalty of Rs 1 lakh on Gandhinagar- headquartered MNSBL for violating the RBI’s instructions regarding the submission of reports on cash transactions above Rs… Read More »