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Archive for the 'Banking Sector' Category

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SBI Reduces Interest Rates On Education Loans – Other Banks To Follow Suit

SBI Logo State Bank of India

It is good news for all the students and education aspirants and also their parents as various banks are planning to decrease the existing interest rates. India’s largest lender, State Bank of India (SBI) is giving a thought to cut interest rates on education loans on basis points from 25-100 across various maturities. This with […]

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ICICI Is India’s Strongest Private Bank?

According to Harendra Kumar, Head of Institution Broking and Global Research, Elara Capital, ICICI is the strongest private bank currently. ICICI is successful in today’s banking rat race because of its fundamentals and valuations. ICICI Bank Logo There is a huge comfort space for ICICI in the private banking sector. The strength is reflecting from […]

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Government Raises 120 Billion Rupees Through Debt Sale

Reserve Bank of India raised 120 billion rupees by selling bonds on Friday. RBI also set a cut off price of Rs. 103. 85, yielding 8. 2040% on 8.79% bonds maturing in 2021. The coupon was lower than the forecast of 8.2262 per cent in a Reuter’s poll earlier in the day. Reserve Bank of […]

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Budget 2012: Nationalized Banks Will Get Enough Capital – Says FM

Pranab Mukherjee Budget

The Finance Minister, Pranab Mukherjee on Sunday announced that, all the nationalized banks will get enough capital to fight against the economic short comings in the country. During the inauguration of the new corporate office of the Oriental Bank of Commerce, Mukherjee added that, “Government is working on the way to provide adequate capital to […]

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Mobile ATMs Coming Soon to Your Area

Inaccessibility to automated teller machines (ATM), especially in remote areas, could soon be a thing of the past thanks to an initiative by the Reserve Bank of India (RBI). This initiative would allow non-bank institutions to own and operate ATM across India. These ATMs, commonly known as White Label ATMs (WLA) in developed countries, are […]

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RBI Hikes Bank Rate From 6% to 9.5%

RBI Logo Reserve Bank of India

The Reserve Bank of India (RBI) has lifted their bank rate or the discount rate, from 6% to 9.5% to line up with the marginal standing facility (MSF), without changing the monetary policy stance. The bank rate is the rate at which RBI buys or re-discounts bills of exchange or other commercial papers which are mandatory for […]

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SBI Faces Loan Crunch – Needs Rs. 15000 Crore Per Year To Match Loan Demands

State Bank Of India Logo

State Bank of India, country’s leading bank operator is now in a difficult situation. SBI needs to raise funds of about $3 billion (Rs. 15000 Crore) to meet the loan demand. Apart from $1.6 billion (Close to Rs. 8000 crore) assured by the government, the bank needs to raise more funds. Worsening economy is resulting […]

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Internet Biggies & Banks Join Hands To Address Frauds & Scams

Online scams and spams have increased a lot. Government, along with many worlds’ biggest internet companies and financial firms have decided and developed a new strategy to fight email spams and online scams. Internet companies like Facebook, Google Inc and Microsoft Corp and financial corporations like Bank of America Corp, Fidelity Investments and eBay Inc’s […]

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