A recent press release said that Development Credit Bank has launched Payless Credit Card which would benefit the banking customers were denied credit cards. These customers were not given credit cards because they did not belong to the secured salaried segment. Now DCB has brought in a solution by introducing Payless Credit Card, with which… 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 release said that the Kerala based Federal Bank has planned to enter into investment banking and equity broking. A senior official from the Kochi based lender told that the bank would make its entry into equity broking business and the bank is also eager to open investment banking services. But the timelines… Read More »
A recent press report said that the Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees five lakh only) on Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS)… Read More »
A recent press report said that the Department of Industrial Policy and Promotion has said that the strategy used by the RBI’s to control inflation is wrong. Reports said that the industry department has suggested an alternative to the central bank to control inflation. Reports said that the central bank has raised its policy rates… Read More »
The Mutual Fund industry was just trying to cope up from SEBI’s blow of banning entry loads on mutual funds units, they have been struck with another lightening. Now, RBI (Reserve Bank of India) has come up with a new regulation that banks need to cap their investments in the liquid schemes of mutual funds at 10%… Read More »
This is mostly answered by approaching a Mutual Fund manager. The manager will ask you a dozen questions wherein he will be able to analyze what are your goals and the investment tenure that you are looking for. Depending on that he will pull out a list of Mutual Funds that have performed well in… Read More »
A recent press release from HDFC bank said that the bank, which is the country’s second largest private lender, has entered into a strategic alliance with Diners Club International to offer Diners Club premium credit cards to the country. According to the statement of the bank, HDFC which is already the country’s largest credit card… Read More »
According to a recent press report, Indian overseas Bank has planned to establish another branch in Bangkok. According to Mr. M. Narendra, the Chairman and Managing Director of IOB, the bank has applied to the Reserve Bank of India for its consent to open one more branch in Bangkok. He added that the Thailand authorities… Read More »
A recent press report said that private sector lender YES Bank has planned to give a big booster to its retail banking operations. The bank has planned to add several new products to its retail portfolio in order to enhance its offerings to the customer. Amongst the new product lines to be introduced include Loan… Read More »