According to the Q4 results announced by ING Vysya, the banks net profit has gone up by 34 peer cent to Rs 91.3 crore, from Rs 67.9 crore. The bank has reported its growth after taking into consideration the impact of about Rs 36 crore on account of the second pension and enhancement in gratuity… Read More »
This Bank was first established as a Co-operative Urban Credit Society in the year 1917. This was later on converted into a Bank. Till 1993 the Bank had only 8 branches spread over Satara District of Maharashtra only. Since then it has expanded its wings in other prominent Districts of Maharashtra viz. Sangli, Kolhapur, Solapur,… Read More »
Debit cards are issued by the banks to its customers. The card allows instant purchase and withdrawal of money from account using ATM’s. Debit cards are different from credit cards in the way they allow purchase based on funds available in the account unlike credit cards which uses a line of credit that can be… Read More »
Loans that are offered to a relative or a friend are called as crown loans. This type of loan does not hold any hard or fast rules on the borrower, generally a person well off in the family offers such loans to the one who is struggling for financial assistance to build his house, business,… Read More »
In the eastern coast of the country lived a farmer totally dependent on agriculture for his living. He owned some land where he harvested rice and wheat. He was struck by heavy losses for some years where he happened to lose a lot of money. He tried to borrow money from his friends to start… Read More »
A bank account has become more of a necessity than a comfort or luxury these days. A bank account and its related features have become an essential part of an individual, especially, a salaried individual. The purpose could be for individual transactions, personal loan or home loans, educational loan or repayment of a loan through… Read More »
Lump Sum is a single payment, for the total amount due, as opposed to a series of periodic payments. In general, a lump sum is a single payment which gives all of the benefits owed to the person in single go. Lump sum payments can be seen in cases of retirement benefit packages, court-ordered financial… Read More »
Bharat Co-operative Bank (Mumbai) Limited which was established in 1978, now has a customer base of more than 12 lakhs. The Reserve Bank of India has conferred scheduled status to the Bank on 22nd April, 1996 and the Bank subsequently registered as Multi-State Scheduled Co-operative Bank on 26th September, 1997. Today the Bank has 36… Read More »
Private sector bank, HDFC Bank has elected to offer special personal loans to 3 customer groups viz. government employees, defense employees and teachers.
India will continue withdrawing economic stimulus introduced during the financial crisis and carry on increasing interest rates on personal loans despite uncertainty associated with euro zone’s debt problems, finance minister said. Pranab Mukherjee said that a worsening debt crisis in Europe could affect India’s and other emerging economies’ exports and growth, but this risk was… Read More »