A recent press report said that talks are on everywhere with regulators wanting to do away with prepayment penalty being levied on home loan borrowers for floating rate loans. The Reports said that the lenders have however showed their dissatisfaction on the regulators suggestion to do away with prepayment penalty being levied on home loan… Read More »
A recent press report said that the Indian banks have sought approval from the RBI to open branches in Dhaka, the capital of Bangladesh, as they sense an opportunity to cater to the business community involved in the trade of non-Basmati rice. Reports said that Kolkata-based Allahabad Bank has sought the Reserve Bank of India’s… Read More »
A recent press report said that the Reserve Bank of India, the central banking institution has planning to do a revised study on the potential growth rate. Dr D. Subbarao central bank Governor, told the press that the study has been planned due to the slowing economic growth. Reports said that the issue has been… Read More »
A recent press report said that Punjab National Bank (PNB) has opened a representative office Sydney. Mr. K. R. Kamath, chairman and managing director of the bank said that the bank is likely to get regulatory approval from authorities in both countries to upgrade this representative office into a full-fledged branch within a year. Reports… Read More »
A recent press report said that Oriental Bank of Commerce on has launched its first e-lobby, providing another outlet for 24×7 banking services to its customers. Reports said that the e-lobby, which would be unmanned and located at Nehru Place, was inaugurated by Mr. Nagesh Pydah, Chairman and Managing Director, OBC, in the presence of… Read More »
A recent press report said that Andhra Bank has launched prepaid gift and international travel cards. Reports said that the prepaid gifts card is available in denominations between Rs. 250 and Rs 50,000 and can be bought at no additional charge. The customer requires gifts cards valued beyond Rs 20,000 select Know Your Customer (KYC)… Read More »
A recent press report said that Kozhikode District Co-operative Bank has recorded more than 50 per cent growth in net profit during 2010-11. The bank’s net profit stood at Rs 6.32 crore as against Rs 4 crore in the previous year. The bank officials said that the growth in profit was the highest in the… Read More »
A recent press report said that Mr. R. Chandrasekharan has assumed charge as Executive Director of UCO Bank. Reports said that Mr. Chandrasekharan has about 35 years of experience in the banking industry. He joined IOB as a probationary officer on October 11, 1976, and worked as manager in rural and semi-urban branches besides large… Read More »
A recent press report said that Bank of Maharashtra is likely to hike its base rate by 25 basis points from 1st October 2011, following the latest policy rate hike by the Reserve Bank of India. Mr. A. S. Bhattacharya, Chairman and Managing Director of the bank told the press that the bank has planned… Read More »
A recent press report said Public sector Corporation Bank and Andhra Pradesh Small Scale Industries Association (APSSIA) have signed an MoU to support small and micro industries in the city and its surrounding areas. According to reports, Mr. B. Laxminarayna, Corporation Bank Deputy General Manager (Vijayawada region) and Mr. D. V. K. Rama Rao APSSIA… Read More »