A recent press report said that Union Bank of India has launched a financial inclusion initiative called ‘Unioninclusions,’ which includes five schemes. The Finance Minister, Mr Pranab Mukherjee, inaugurated the initiative in Mumbai. Mr. Mukherjee, at the inauguration function, asked the banks to pursue technological innovations in order to reach out to the poor and… Read More »
A recent press report said that the existing and prospective Savings Bank (SB) account customers of State Bank of Hyderabad (SBH) will enjoy a free personal accident insurance cover. Ms. Renu Challu, Managing Director, SBH, told the press that a cover of Rs 1 lakh would be extended to over 60 lakh existing customers and… Read More »
A recent press report said that Indian Overseas Bank has launched premium credit cards, targeting elite customers in association with American Express. Mr. M. Narendra, Chairman and Managing Director of the bank told the press that IOB and American Express would jointly promote the cards that would feature logos of both the companies. He added… Read More »
A recent press report said that Indian Overseas Bank has roped in Ernst and Young as a consultant to provide advice on spinning-off the bank’s IT division into a software subsidiary. Ernst and Young will act as a consultant with the valuation of the subsidiary and also help patent the bank’s core banking software. Unlike… Read More »
A recent press report said that India was a profitable market for foreign banks in the last year. Reports said Citibank India has announced a 78 per cent increase in profit after tax to Rs 1,859 crore for 2010-11 from Rs 1,046 crore in 2009-10. Standard Chartered India had reported a profit before tax of… Read More »
A recent press release said that Saraswat Bank has tied up with Reliance ADAG under which the Anil Ambani-led group will market a core banking solution developed by the bank’s InfoTech subsidiary. Mr.Eknath Thakur, Chairman, Sarwat Bank told the press that, the bank will sell its core banking software, ‘Swift Core’, to banks using ADAG’s… Read More »
A recent press report said that the state-run Allahabad Bank has planned to achieve a business growth of 24 per cent during the current financial year 2011-12. Mr. J.P Dua, chairman and managing director of the bank said that the bank has projected a business level of around Rs.2, 80,000 crore as in March 2012.… Read More »
Indraprastha Sehkari Bank Limited came into existence on 01.10.1989 with one office in Delhi, with a paid up capital of just Rs. 15, 62,900 and 2666 members because of constant efforts made by Late Shri. Tara Chand, an eminent Co-operator who was also the founder of Delhi Nagrik Sehkari Bank Limited, Delhi. The bank is… Read More »
A recent press report said that Indian Overseas Bank has launched premium credit cards, targeting elite customers in association with American Express. Mr. M. Narendra, Chairman and Managing Director of the bank told the press that IOB and American Express would jointly promote the cards that would feature logos of both the companies. He added… Read More »
A recent press report said that Indian Overseas Bank has roped in Ernst and Young as a consultant to provide advice on spinning-off the bank’s IT division into a software subsidiary. Ernst and Young will act as a consultant with the valuation of the subsidiary and also help patent the bank’s core banking software. Unlike… Read More »