A recent press report said that the State Bank of India would be the major beneficiary of the Government’s recapitalization programme for banks. The bank might get around Rs.8000 to Rs.8500 through various instruments such as preference shares. The bank might issue follow on public offer and rights issue once the capital base is increased.… Read More »
A recent press report said that the Indian companies have currently stopped their expansion plans as the Reserve Bank of India has increased the key interest rates for the 13th time since March 2010. The Chief Executive Officer of a secondary steel manufacturer said that they have held back their plans of expanding brown field… 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 »
A recent press report said that Oriental bank of Commerce and State Bank of India has launched their co – branded credit cards. Both the banks have already entered into a memorandum of understanding (MoU) regarding this purpose. In his statement Mr. Nagesh Pydah, Chairman and Managing Director said that by the end of March… Read More »
A recent press report said that the public sector bank IDBI has planned to raise around $ 200 million overseas fund through medium term notes from Switzerland market. In his statement Mr. Melwyn Rego, the Executive Director of IDBI bank said that they have been observing the Switzerland market keenly and the Korean Exim bank… Read More »
According to a recent press report, Dr K. Rosaiah, Governor, Tamil Nadu, who addressed the 95th Founders Day celebration of Karur Vysya Bank, appreciated the bank for taking banking services to the masses. On addressing the 95th Founders Day celebration of the bank, he said that nationalization of banks in 1969 gave a standard shift… Read More »
According to a recent press report, Dr K. Rosaiah, Governor, Tamil Nadu, who addressed the 95th Founders Day celebration of Karur Vysya Bank, appreciated the bank for taking banking services to the masses. On addressing the 95th Founders Day celebration of the bank, he said that nationalization of banks in 1969 gave a standard shift… Read More »
A recent press report said that IDBI Mutual Fund, a wholly-owned subsidiary of IDBI Bank has launched an open-ended gold exchange traded fund (ETF) for retail investors. Reports said that the new fund offer (NFO) will be opened for subscription from 19 October and will end on 2 November 2011. The allotment of units is expected… Read More »
Shares of Dhanlaxmi Bank gets depreciated about 24 per cent after the All India Bank Officers Confederation raised question about the lender’s financial health. The firm has opened its stock but surrendered the gains thereafter, the BSE and NSE stock value sinking to 52 week low. It hit a low of Rs 54.25 on the… Read More »
As per the analyst report, due to a slowdown in credit demand in the second quarter of this fiscal, Public and private sector banks have been experienced an average growth rate of 10% in their earnings. Analysts from Kotak Institutional Equities and Sharekhan had said that public sector lenders are likely to have experienced lower… Read More »