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Archive for the 'Banking Sector' Category

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HSBC Eying Bigger Share In Indian Banking; IDBI To Raise Rs. 12.8 Cr By Year End


To achieve cost reduction by diversifying source of funds, IDBI bank is now planning to raise Rs.12875 crore by January. The previous plan was to raise Rs.7416 crore as offshore fund; already Rs.3708 crore has been collected and it seems that the bank is searching for new markets to get more. Coming to HSBC, Foreign […]

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RBI instructs banks to pay 8% compensation on delayed interest payments

RBI Logo Reserve Bank of India

Reserve Bank of India (RBI) has directed banks to pay a compensation of 8% on delayed interest payments on relief bonds. A circular read, “an agency bank should compensate an investor in relief/savings bonds for financial loss due to late receipt/delayed credit of interest warrants/maturity value, at a fixed rate of 8 per cent per […]

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DBS Bank To Soon Start Operating as a subsidiary in India

DBS Bank Logo

There are now a lot of organizations that see the potential of India when it comes to doing some business and among these companies is the DBS Bank. They have seen significant business opportunities in the country and would be glad to operate as a wholly-owned subsidiary in the country. This will definitely be possible […]

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SBH Offers Special Term Deposit Scheme At 10.2% Interest

SBH Logo (State Bank of Hyderabad)

A lot of us know the advantage of saving your money in different investment firms like banks since the money that you will deposit would grow in a certain interest rate. It is good news that SBH will be offering special deposit term on April 4 and 5. This is one of their ways of […]

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Allahabad Bank & United Bank Appoint New Heads

UBI Logo United Bank

It is time for some change of power at the higher level in Allahabad Bank. The bank stated in a press release that Mr Tilak Raj Chawla has joined as the new Executive Director for Allahabad bank. Mr. Chawla will be replacing Mr D. Sarkar, who has now joined Union Bank of India as the […]

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Axis Bank Installs 200 CDMs (Cash Deposit Machines) Across 90 Cities

Axis Bank Logo

Axis Bank is India’s third largest private sector bank and it just did an wonderful task by installing 200 cash deposit machines in various branches in 90 cities across India. These machines will help customers to deposit cash in bank accounts anytime and also help ease the pressure on Banks during office hours. So what […]

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SBI To Reduce Interest Rates On Selected Loans

SBI Logo State Bank of India

India’s biggest nationalized bank State Bank of India (SBI) has decided to deduct rates on some of the loans provided by them. SBI is planning to reduce the rates in the sector-specific loans, though the Reserve Bank of India (RBI) hasn’t cut down the repo rate till date. The bank’s asset liability committee (ALCO) will […]

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Indian Overseas Bank to recruit 1500 employees

Indian Overseas Bank IOB Logo

India’s one of the nationalized banks Indian Overseas Bank is going to recruit 1500 officers in their different branches as there is lot of vacancies of probationary officers in junior management grade. Indian Overseas Bank IOB The candidates who are selected through the common written examination conducted by the Institute for Banking Personal Selection are […]

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