According to a recent press report, the IDBI bank has cut down the interest rate on floating rate home loan scheme by 25 to 50 basis points for its existing customers. For new customers, the bank has introduced fixed-cum-floating rate scheme. The bank said that it has decided to offer the concession of 100 basis… Read More »
A recent press report said that the Retail and corporate credit, including home and auto loans, are likely to become costlier due to the RBI’s latest increase in the key rate. Mr. S. C Sinha, Executive Director, Oriental Bank of Commerce said that banks might increase both lending and deposit rates following the RBI action. He… Read More »
A recent press report said that IndusInd Bank has increased the pricing on savings account deposits by up to 200 basis points. Reports said that the savings accounts balance up to Rs. 1 lakh will receive 5.5 per cent per annum, and balances above Rs. 1 lakh will get 6 per cent. The bank has… Read More »
A recent press report said that international rating agency Moody’s has suggested that State Bank of India has to increase and sustain the level of its Tier-1 capital, and improve its asset quality over an extended period in order to raise its stand-alone rating. SBI was downgraded to D+ from C-. As per reports from… Read More »
According to a recent press report banks have started lending to microfinance institutions (MFIs). The RBI has recently issued guidelines on microfinance lending inter- alia directing banks to resume lending to microfinance sector and treat them as priority sector advances. Mr. Thomas, Managing Director of ESAF Microfinance said that the State Bank of India has… Read More »
A recent press report said that various banks have taken control of Trident Microfin by getting a majority stake in the firm, leaving promoter and chief executive Mr. Kishore Kumar Puli with a stake of only 4.2 per cent. As per reports, banks such as ICICI Bank, HDFC Bank, Axis Bank, Indian Overseas Bank, Bank… Read More »
A recent report said that the Bank of Maharashtra had reported a robust net profit and the bank’s continuous efforts resulted in the recovery of loans to around Rs. 368 crore. The reason behind this success was their style of recovering the loans from borrowers who do not turn up to pay the dues. Bank… Read More »
A recent press report said that the Bank of Maharashtra has announced a net profit that has been almost doubled than the corresponding period last year. The bank has reported a net profit of 92 per cent to Rs. 100 crore for the second quarter ended September 2011 against Rs. 52 crore during the corresponding… Read More »
A recent press release said that in order to maintain the credit growth in the scenario of economic slowdown the Jaipur – based State Bank of Bikaner and Jaipur has decided to cut short the lending to corporate and increase the retail loans. According to Mr. Shiva Kumar, Managing Director of SBBJ, the bank currently… Read More »
A recent press report said that the roles of valuers have become important in this age of globalisation and liberalization and that they have occupied an important role in stabilising the economy besides generating more revenues for the government. Mr. P.K. Thiagarajan, national president, Institution of Valuers said that the RBI has made it mandatory… Read More »