Abhyudaya Co-op. Bank Limited is one of the leading Urban Co-operative Banks in India and works with the objective of progress and prosperity of all. The bank’s operation was commenced on January 1964 as a Co-operative Credit society with a share capital of a merely Rs.5, 000/- held by 83 members. Today it has become… Read More »
A recent press report said that the Kerala – based Federal Bank has reported a net profit of Rs. 191.6 crore for the second quarter ended September, 2011 which has risen 36 per cent against the net profit of the corresponding period last year. The bank said that in spite of the challenging economic condition… Read More »
As per the recent press release the fourth largest private lender, Federal bank has offered to provide a discount of 2 per cent on gold purchases during Diwali as festival offer. The bank has also announced to offer a special gold loan offer as a part of its festival offer. The bank being the largest… Read More »
A recent press report said that the largest lender of the country, State Bank of India has entered the team of members for credit information agency, Experian. Reports said that major lenders in India have so far been subscribing to CIBIL for getting their required credit details including SBI. But with opening up of new… Read More »
A recent press report said that the Jammu and Kashmir Bank has planned to raise its prime lending rate (PLR). The affect of the hike in the repo rate on the various policies of banks is taking shape. The bank has taken the step after the recent hike in policy rates announced by the Reserve… Read More »
A recent press report said that the country’s largest lender State Bank of India (SBI) has said that it was not in favour of hiking lending rates despite the Reserve Bank’s 12th consecutive rate increase. Mr. Pratip Chaudhuri, Chairman, SBI told the press that the margins are quite strong and the net interest income for… Read More »
A recent press report said that Mr. R. Chandrasekharan has assumed charge as Executive Director of UCO Bank. Reports said that Mr. Chandrasekharan has about 35 years of experience in the banking industry. He joined IOB as a probationary officer on October 11, 1976, and worked as manager in rural and semi-urban branches besides large… Read More »
A recent press report said that Catholic Syrian Bank has passed special resolutions seeking shareholders’ approvals for increasing the bank’s share capital by issuing equity shares on preferential basis and/or through private placement mode. Reports said that the AGM also passed a resolution for increasing the FII limit up to 49 per cent of the… Read More »
A recent press report said that Union Bank and the State Bank of Travancore (SBT) have raised their lending rates by 50 basis points, following the hike in key policy rates by the Reserve Bank last month. Union Bank’s new base rate, or the minimum lending rate, would be 10.75 percent per annum, while SBT”s… Read More »
A recent press report said that Vijaya Bank has begun the process of increasing loan repayment periods in order to help retail borrowers come out of the possible financial stress following the increase in interest rates in the recent months. The banks retail portfolio includes home loan, mortgage loan, personal loans, vehicle loans, Vijay professional… Read More »