Pune-based public sector lender Bank of Maharashtra is hopeful of receiving Rs 800 crore from the government as part of the capital infusion plan in the current fiscal. Mr. A. S. Bhattacharya, CMD, Bank of Maharashtra said that the bank has approached the government for additional capital infusion of Rs 800 crore. He said that… Read More »
According to a recent press report country’s largest lender State Bank of India’s chairman Pratip Chaudhuri has said there will be a hike in its interest rates in the next 15 days. He said that the bank is likely to hike its rate in another 15 days. He also said that the quantum of the… Read More »
A recent press report has said that State Bank of India (SBI) and Export-Import Bank of India (Exim Bank) have planned to provide a 14-year loan to a Spanish solar energy producer Grupo T- Solar Global SA and U.S.-based Astonfield Renewable Resources for setting up a solar plant in the country. Mr. Ameet Shah, co-… Read More »
A recent press report said that HSBC is planning to grow its unsecured Indian loan portfolio, mainly credit cards as its retail operation moves towards a return to profitability in Asia’s third-largest economy. Reports said that banks in the country have cut down unsecured lending after personal loans and credit card dues turned bad following… Read More »
A recent press report said that Corporation Bank is unlikely to increase the lending rate Mr. Ramnath Pradeep, Chairman and Managing Director of the bank, told the press that there is a need for the banks to take a call on increasing interest rates but the bank has not planed to increase the rates this… Read More »
A recent press report said that in an attempt to extend the reach of banks in rural and semi-urban areas, the finance ministry has asked public sector banks to integrate their operations with regional rural banks (RRBs). Reports said that the charges for various banking services used by customers of RRBs are to be aligned… Read More »
A recent press report said that Union Bank and the State Bank of Travancore (SBT) have raised their lending rates by 50 basis points, following the hike in key policy rates by the Reserve Bank last month. Union Bank’s new base rate, or the minimum lending rate, would be 10.75 percent per annum, while SBT”s… Read More »
A recent press report said that Industrial and Commercial Bank of China (ICBC), the world’s largest bank in terms of market capitalization, has launched its Indian operations by inaugurating its Mumbai branch. The bank, has a license for wholesale banking, and has planned to focus on commercial banking services in the first phase. Mr. Yang… Read More »
The Reserve Bank of India has imposed a penalty of Rs.10 lakh (Rupees Ten Lakh only) on Credit Agricole – Corporate & Investment Bank and a penalty of Rs. Five lakh (Rupees five lakh only) on Karnataka Bank Limited for non-compliance with its directives on derivatives. The penalty on Credit Agricole – Corporate & Investment… Read More »
A recent press report said that Kotak Mahindra Bank has entered into a business co-operation arrangement with Malaysia based CIMB Group for cross-border trade in select countries in the India-Asean corridor. Reports said that the co-operation would cover various businesses of mutual interest, including merger and advisory, trade finance and other corporate solutions, and NRI… Read More »