A recent press report said that State Bank of India has reduced the rate of interest on car loans to 11.25% with lowest EMI of `1,725/- per lakh for 7 years period. Reports said that SBI in association with Maruti had organized Car Loan Melas on October 17 and 18 at 39 different locations in… Read More »
A recent press report said that Kotak Mahindra Capital Company a subsidiary of Kotak Mahindra Bank and Evercore Partners have entered into an exclusive strategic alliance for cross-border M&A advisory services between India and the United States, the United Kingdom and Mexico. Reports said that the two leading investment banks will offer high-quality objective advice… Read More »
A recent press report said that Mr. Ajai Kumar has assumed charge as Chairman and Managing Director (CMD) of Corporation Bank. Mr. Kumar, has worked as General Manager in Bank of Baroda and as Executive Director in UCO Bank, and has a wide experience in domestic and overseas operations. Reports said that Mr. Kumar combining… Read More »
A recent press report said that banks have opposed the Damodaran Committee’s proposal for a five-fold increase in deposit insurance cover. Banks feel that the increase in deposit insurance cover could have serious cost implications for the banks due to higher premium outgo. Reports said that the RBI’s Committee on Customer Service in Banks chaired… Read More »
A recent press report said that Kotak Mahindra Bank which is a Private sector bank has reported a growth in its net profit to about 18.8 per cent to Rs.432.58 crore for the second quarter ended September this fiscal year which was Rs.364.11 crore during the corresponding period last year. The total income of the… Read More »
A recent press report said that the State Bank of Mysore has reported a fall in its net profit for the second quarter ended September, 2011. The net profit of the bank fell by 17 per cent to Rs.77.78 crore against Rs.93.36 crore during the same period last year. Mr. Dilip Mavinkurve, Managing Director of… Read More »
A recent press report said that inflation which is currently prevailing high would slide down in the coming months. In spite of ardent efforts made by the Reserve Bank of India by tightening the monetary policy in order to curb the inflation, the inflation rate is above the comfort zone of the Government which is… Read More »
A recent press report said that the net profit of Axis bank increased to 25 per cent to Rs.920 crore compared to the net profit of Rs.735 per cent during the corresponding period last year. In his statement Mr. Somnath Sengupta, Executive Director and Chief Financial Officer of Axis Bank said that the gross across… Read More »
According to reports from Axis Bank, the banks have announced that the following changes will come into effect from 1st November 2011. With respect to the usage of other bank ATM’s, it has said that the transactions on prepaid cards i.e. the cash withdrawals would be Rs. 20.00/- (including taxes) per Financial transaction and Rs.… Read More »
A recent press report said that HDFC bank had planned to bring back Diner’s Club, the oldest card in India. The premier charge card was sold by Citi to in the year 2008, will soon. The card is expected to be relaunched by an affiliation with HDFC Bank. HDFC bank will be a franchise for… Read More »