Andhra Pragathi Grameena Bank came into existence from 1.06.06 by amalgamating Rayalaseema Grameena Bank, Sri Anantha Grameena Bank and Pinakini Grameena Bank consequent upon the Government of India Notification dt.1.6.06. The Bank is constituted under Regional Rural Banks Act 1976. The Bank is having its Head Office at KADAPA with a jurisdiction of 5 districts… Read More »
A recent press report said that in order to control the mispricing of risks and the lack of transparency in loan pricing, the RBI has planned to set a group to suggest ways to have a transparent and non-discriminatory regime. The RBI has said that there are many chances of risk mispricing and lack of… Read More »
A recent press report said that the Reserve Bank of India as a part of green initiatives has asked all the financial services companies including non banking financial companies (NBFCs) to gradually stop using cheques and switch over for electronic payment system. The government has suggested various steps for all the units in the financial… Read More »
According to a recent press report, Government is likely to allow banks’ to raise long term resources for infrastructure financing through issue of development bonds. The Department of Industrial Policy and Promotion (DIPP) in a discussion paper said that banks would be permitted to raise long term resources through issuance of development bonds, for the… Read More »
A recent press report said that the failure of the majority of the banks to detect the counterfeit notes is currently creating threat of counterfeit currency. The Reserve Bank of India said that it would take urgent steps in order to sensitize those within the system on the issue. In his statement Dr. D. Subbarao,… Read More »
A recent press report said that the Government of India has appointed two more members on the Central Board of Directors of the Reserve Bank of India. According to reports the new Directors are Shri Y.H. Malegam, who has been re-appointed from October 7, 2011 and Prof. M.V. Rajeev Gowda who has been appointed from… Read More »
A recent press report said that the Reserve Bank of India has conveyed their approval for the re-appointment of Dr. V. A. Joseph, as Managing Director & CEO of South Indian Bank Ltd for a period of three years, with effect from October 01, 2011 till September 30, 2014. Recently the bank has recorded 24… Read More »
A recent press report said that Reliance Power has received Reserve Bank of India’s approval for raising $2.2 billion loan from the US and Chinese banks, for the 3,960 mw-Sasan power project in Madhya Pradesh. Reports said that $1.1 billion would be offered by Chinese banks, including Bank of China, China Development Bank and Export… Read More »
A recent press report said that the Reserve Bank of India (RBI) has penalised Gujarat-based co-operative sector lender – Porbandar Vibhagiya Nagarik Sahakari Bank (PVNSB) – for violation of its guidelines. The RBI has imposed a fine of Rs. 1 lakh on PVNSB for violating RBI guidelines on ‘Know Your Customer (KYC)’ norms as well… Read More »
A recent press report said that the National Housing Bank (NHB) has planned to take a decision on whether there will be a complete on floating-rate home loan. According to Mr. R. V. Verma, NHB chairman and managing director told the press that the decision will be in the best interest of the borrowers. He… Read More »