State Bank of India introduced the one-time settlement (OTS) scheme which will help the micro, medium and small industries to establish and to grow their business. To attract more people, SBI is offering many discounts. State Bank of India SBI observed a net increase of Rs. 3902 crore in bad loans in its MSME portfolio. […]
The shares of the public sector banks rallied sharply on the bourses, as the Finance Minister, Pranab Mukherjee, declared capital infusion for them in the Union Budget 2012-13. Mukherjee also added that, Rs. 15, 888 crore will be provided for the capitalization of public sector and regional rural banks and NABARD. In this situation, a […]
Credit card transactions were made in December of about Rs. 8,421 crore, up to 53% in the month of December, 2011 as compared to the same month 2010. According to the Reserve Bank of India data, the number of credit card in circulation has declined by 14.4% to 1.76 crore as of December 2011. The […]
Malaysian sovereign wealth fund Khazanah Investments sold their entire 4.17% stakes to YES Bank. The fund held 1.467 crore stake to YES Bank through Mauritian subsidiary Titiwangsa Investments. “The stake was old in the share market on Monday at a little discount in the market,” confirmed by a banking analyst. Khazanah Investments started investing in […]
The Reserve Bank of India on Friday cut the cash reserve ratio by a ‘astonishingly aggressive’ 75 basis points. The move to cut the amount of cash that banks need to park with the RBI (or CRR) from 5.50 per cent to 4.75 per cent of deposits is intended at easing the importunate liquidity crunch […]
National Bank for Agriculture and Rural Development (NABARD) has introduced a refinance scheme for regional rural banks, state and district cooperative bank, urban cooperative banks and scheduled commercial banks to accelerate the pace of construction of quality of warehouses in the rural areas for farming commodities. The scheme is expected to create around 9 million […]
The Reserve Bank of India has hiked bank rate for Primary (urban) Co-operative Banks by 3.5% to 9.5% with effective from February 13, 2012. “…it is determined that the bank rate should normally stay aligned to the MSF (marginal standing facility) rate. “Accordingly, it has been decided that with effect from the close of business […]
Royal Bank of Scotland announced on Tuesday to switch 215 roles from Britain to India to cut costs, adding that it would axe a further 83 temporary British roles. “As we work to rebuild RBS we persist to streamline our business to ensure that we remain competitive,” said a spokesman for the state-rescued bank. The […]
