A recent press report said that a committee has been set up look into the issues relating to software exports and the committee will come up with the recommendations by September end. Mr. G. Padmanabhan, Executive Director, Reserve Bank of India said that the committee will come out with viable solutions that will make things… Read More »
As per a recent press report, Peerless general finance and investment company ltd has sought for a special dispensation of the Reserve Bank of India to allow it to continue its residual Non-Banking Company business for some more time. Mr.S.K.Roy, Managing Director, Peerless said that the financial products distribution business had suffered a setback due… Read More »
The Kangra Cooperative Bank Limited was started in a very humble way as a small Thrift/Credit Society in March, 1960 by a few friends of the District. Twenty three years there from in June 1995 it was granted a license to carry out the banking business by the Reserve Bank of India. The bank offers a… Read More »
The Kangra Cooperative Bank Limited was started in a very humble way as a small Thrift/Credit Society in March, 1960 by a few friends of the District. In June 1995 it was granted a license to carry out the banking business by the Reserve Bank of India. The bank offers home loan, educational loan, persona loan,… Read More »
The Meghalaya Cooperative Apex Bank Ltd. was incorporated on 16th February, 1971 under the provisions of Meghalaya Cooperative Societies Act and on obtaining the required license from the Reserve Bank of India under the Banking Regulation Act, 1949 (as applicable to Cooperative Societies) , it commenced banking business on and from 1st July, 1971 .… Read More »
The Meghalaya Cooperative Apex Bank Ltd. was incorporated on 16th February, 1971 under the provisions of Meghalaya Cooperative Societies Act and on obtaining the required license from the Reserve Bank of India under the Banking Regulation Act, 1949 (as applicable to Cooperative Societies) it commenced banking business on and from 1st July, 1971. Purpose –… Read More »
A recent press report said that the Reserve Bank of India has imposed a monetary penalty of Rs. 1.00 lakh (Rupees one lakh only) on The Prerana Co-operative Bank Ltd., Pune, Maharashtra 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… Read More »
A recent press report said that the banking sector regulator Reserve Bank of India has imposed a penalty of Rs 100,000 Gandhinagar Nagrik Cooperative Bank Limited, which is located in the Indian state of Gujarat. The Reserve Bank of India had found the bank guilty of allowing interest rebate in loan accounts of directors and… Read More »
According to recent press reports Tamilnad Mercantile Bank has signed an agreement with HDFC Asset Management Company for marketing the its mutual fund products through select authorized branches of the bank. Mr. S. Selvan Rajadurai, TMB’s General Manager, Business Development told the press that the bank has already tied-up with five leading mutual fund companies,… Read More »
A recent press report said that the global electronics major Siemens has been granted a non-bank lender license by the Reserve Bank of India for providing financial services to its Indian customers. Reports said that Siemens Financial Services (SFSPL), the NBFC, will focus on developing an asset financing business by offering products such as loan,… Read More »