A recent press report said that Vijaya Bank has begun the process of increasing loan repayment periods in order to help retail borrowers come out of the possible financial stress following the increase in interest rates in the recent months. The banks retail portfolio includes home loan, mortgage loan, personal loans, vehicle loans, Vijay professional… Read More »
The Reserve Bank of India has imposed a monetary penalty of Rs.1.00 lakh (Rupees one lakh only) on Uma Co-operative Bank Limited Vadodara (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for non-adherence to Know Your Customer (KYC)… Read More »
A recent press report said that HDFC has opened its first branch in Katra, Jammu & Kashmir. With this, the Bank has opened a second branch in J&K this month and remains on track to set up 50 branches by year-end. The branch, which was inaugurated by Governor J&K, N.N. Vohra, who is also the… Read More »
Corporation Bank inaugurated its new zonal office premises at Thane on Saturday. With a view to make branches more exclusive, the bank recently created 12 new zones across the country, taking the total number of zones to 31, a bank release here said. The Thane Zone, which has been carved out of the existing branches… Read More »
A recent press report said that Prime Minister Mr.Manmohan Singh’s government is pushing state-run banks to give out up to Rs.10,000 in unsecured loans to landless laborers to boost consumption in rural areas, which bankers say reminds one of ‘loan melas’ of the 1980s that crippled the banking industry. Reports also said that Public sector… Read More »
A recent press report said that Corporation Bank has launched its second zonal office in Bangalore. The bank has recently created 12 new zones across the country, taking the total number to 31. Reports said that the Bangalore North Zone will now control 52 branches, including 13 urban centers, 74 ATMs and 204 branchless banking… Read More »
A recent press report said that Country’s largest private lender ICICI Bank has planned recruit up to 6,000 people this fiscal to help its business growth and expansion. Ms. Chanda Kochhar, Managing Director and chief Executive of the bank said that the bank’s business was growing between 18 to 20 per cent and the bank… Read More »
A recent press report said that Aviva is likely to offer a discount on the face value to Syndicate Bank. The consumer goods maker Dabur India owns 74% stake in Aviva Life Insurance Company India while UK-based insurer Aviva Group owns the rest. Syndicate Bank’s net profit rose 29.3% to Rs. 343.15 crore on 30.9%… Read More »
A recent press report said that State-run Allahabad Bank has hiked interest rates on deposits for less than Rs 5 crore with term ranging from one year to less than two years by 50 basis points to 9.5 per cent. The bank has planned to revise the interest rate upward by 0.50 per cent per… Read More »
A recent press report said that Shri Suresh Kumar Jain has assumed charge as the Executive Director of Union Bank of India on 1st September 2011. He is a Gold Medalist in College and University with B.Sc (Hons.) & M.A. (Economics); He has been a professional Banker for over 33 years. He has worked in… Read More »