Bank funds have started flowing into microfinance institutions (MFIs), although slowly and in small amounts. Mr. Samit Ghosh, CEO and Managing Director, Ujjivan Financial Services said that the company has received Rs. 100 crore from both public and private sector banks, in August; and in September Rs. 25 crore from another PSU bank. Reports said… Read More »
A recent press report said that SKS Microfinance is likely to approach the Reserve Bank for a banking licence, according to sources. Reports said that the company may approach the RBI for licence after the Board of Directors approval. Mr. M R Rao, CEO and Managing Director, SKS Microfinance said that the company does not… Read More »
A recent press report said that Industrial and Commercial Bank of China (ICBC), the world’s largest bank in terms of market capitalization, has launched its Indian operations by inaugurating its Mumbai branch. The bank, has a license for wholesale banking, and has planned to focus on commercial banking services in the first phase. Mr. Yang… Read More »
A recent press report said that the country’s HDFC Bank Limited has increased its lending rates by half a percentage point, in proportion to the rate increases by other key loaners after the RBI had hiked its policy rate by the similar margin. Reports said that the country’s second biggest private-sector bank by assets increased… Read More »
A recent press report said that the Reserve Bank of India has asked select old generation private sector banks to improve governance standards Reports said that the RBI has asked banks to improve governance structure to make sure that there is minimum intervention of the board in the day-to-day operation. It also said that the… Read More »
A recent press report said that Punjab National Bank is in the process of hiring 3,000 officers and 6,000 clerks. Mr.KR Kamath, chairman and managing director, of the Punjab National Bank said that the bank has started the hiring procedure but the process has chances of spilling over to next year He said that the… Read More »
A recent press report said that Syndicate Bank has set up two loan processing centres for the small and medium enterprise (SME) segment on a pilot basis. The SME loan processing centres will be located at Bangalore and New Delhi. Reports said that the bank has planned to set up SME loan processing units at… Read More »
A recent press report said that the Finance Minister, Mr. Pranab Mukherjee, will undertake a zone-wise performance review of various public sector banks (PSBs) due to the slowdown in credit off take and the rising trend of loans going bad. Reports said that the process is to begin on September 17, with Mr. Mukherjee having… Read More »
A recent press report said that HDFC has opened its first branch in Katra, Jammu & Kashmir. With this, the Bank has opened a second branch in J&K this month and remains on track to set up 50 branches by year-end. The branch, which was inaugurated by Governor J&K, N.N. Vohra, who is also the… 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 »