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Retail Loans in India: Facts and Reviews
Though, relatively new to blogging, Neelima was quick to find out the powers of the online medium to spread her expertise on retail loans in India. A graduate in journalism, Neelima keeps track of the latest developments in retail loans in India on her blog on rupeetimes.com.
By Neelima Shankar

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Thursday, January 29
SBI bank rolled out Telebanking facility at Chandigarh

Largest lending institution of the country – State bank of India lately rolled out Telebanking facility for its customers in Chandigarh. The bank organized a program at Chandigarh Phase III where the bank handed over the Telebanking Kits to the customers of the bank.

Through this facility the customers will be able to access the facilities like account enquiry, statement of accounts request, stop payment of cheque, and transfer of funds (within SBI accounts)....

Posted 11:55:37 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 29
Karnataka Bank reported a profit of Rs 317.03 crore

Karnataka Bank has reported a net profit of Rs 317.03 crore for the first nine months of the current year against Rs 229.82 crore for corresponding period last year. Current Account, Savings Account (CASA) increased by Rs 1,162 crore from Rs 9,576 crore to Rs 10,738 crore.

The deposits of the bank have reached Rs 44,799 crore with Y-O-Y growth rate of 15.81% and advances Rs 30,338 crore with Y-O-Y growth rate...

Posted 11:48:54 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 28
Federal Bank’s – Aluva Master Development program

Recently the Federal Bank has taken an initiative as a part of corporate social responsibility to clean the home town of the bank. The bank has planned to spruce the home town, in order to do the bank has launched ‘Aluva Master Development Program’ in association with the Aluva Municipality.

The bank stated that through this initiative bank has plans to mark a respect to its founder KP Hormis. In this cleaning initiative the...

Posted 12:42:37 PM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 27
Three new branches established by HDFC bank in Lucknow

A leading private sector institution – HDFC bank has launched three new branches in Lucknow. The bank has opened the new branches in urban areas and will offer the entire gamut of services to the people of the city. With establishment of the three cities the bank has increased its network in state and is now having 21 branches in the city.

The branches are opened at Munshipulia , Nadan Mahal and Near Naka...

Posted 09:19:56 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 27
Union bank expanding its branches overseas

It has been reported that Union Bank of India is expanding its network overseas, the bank will establishing a new branch in Sydney. By the end of this month – January 30th 2015, the bank will be establishing the new branch.

Thereafter the bank will launch branches in Africa as well. Recently the bank has also opened a branch in Belgium. The bank is having it network all across the globe including Dubai, London,...

Posted 09:17:33 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 23
Yes Bank to hire 1500-2000 new employees

The young generation bank – Yes bank is set to hire new employees. The bank announced to hire 1500-2000 candidates. The bank has plans to enter in to the Mutual Fund Business, so the bank will be requiring new candidate and will hire 1500-2000 employees in the coming one year.

Some employees will be hired for the Managerial level as well. The bank has plans to expand its business and steadily enter in...

Posted 11:59:48 AM Complete Story | Post Comment | Read Comments(1)

Friday, January 23
Vijaya Bank slashed down the interest rates on several maturities

Public sector bank Vijaya Bank has reduced its rates on fixed deposits. Following the suit the Vijaya Bank has also reduced down its rates. The bank has slashed down the rates in the range of 0.1% to 0.25% on the several maturity periods.It has been reported that the bank has revised its rates that will applicable form Friday, 23 January, 2015.

...
Posted 11:57:40 AM Complete Story | Post Comment | Read Comments(1)

Thursday, January 22
The RBL bank has signed MOU with Shakti pumps

With the desire to offer the secure credit facilities to the farmers the Shakti Pump company has planned to join hands with RBL bank. The Bank has company signed MOU, through this partnership the bank will assist the farmers will the secure banking facilities.

The bank will provide the credit facilities to buy Solar Pump sets, PVC pipes and drip irrigation products and host of products across the bank’s network.

...
Posted 12:02:02 PM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 21
Best Tech savvy Bank award bagged by Karur Vysya Bank

Karur Vysya bank has bagged the “Best Tech Savvy Bank” runner up award. In the MSME excellence awards 2014, the best tech savvy bank award has been given to the Karur Vysya Bank. This is new achievement for the bank.

The Chamber of Indian Micro Small and Medium Enterprises has constituted this award. It has been reported that Jarard Thomas, Deputy General Manager, New Delhi Division, received the award on...

Posted 11:52:45 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 21
Tata AIG entered into Bancassurance partnership with Citi Bank

Recently it has been informed that Insurance Company Tata AIA life has decided to work with the Citi bank. The bank will work as the bancassurance partner with the bank.

Through this bancassurance channel 9 products would be sold out including 4 Unit-Linked Plans, one term plan, two non-participatory traditional and two participatory traditional products. Through this Partnership the insurance company also aims to spread its network and reach huge network of...

Posted 11:42:27 AM Complete Story | Post Comment | Read Comments(1)

Tuesday, January 20
OBC bank reduced rates on various fixed deposit maturities

Public sector bank – Oriental Bank of commerce has slashed down its fixed deposit rates. The bank has reduced its rates by 0.50 percent on the various maturities. At present the lending rate of the bank is 10.25, bank might cut it down further. For deposits having maturity between 46-90 days, the bank has reduced the rate from 7% to 6.75%.

Further the bank has reduced the rate from 8% to 7.75% for the...

Posted 11:39:43 AM Complete Story | Post Comment | Read Comments(1)

Tuesday, January 20
Muthoot finance to act as the Business correspondent of the Yes Bank

It has been reported that Yes bank has signed MOU with Muthoot Finance. The Muthoot finance will act as the Business correspondent of the bank. Through this the Muthoot finance will offer the bank services to the public through its outlets. Muthoot finance has a huge network of 4256 branches spread al across the country.

Muthoot Finance is the first NBFC to act as Business correspondent. Over the past seven decades of its existence...

Posted 11:34:03 AM Complete Story | Post Comment | Read Comments(1)

Monday, January 19
Financial literacy centre in Rajasthan

It is noticed that spreading and boosting the financial education is an important aspect. With the aim to do so a financial literacy training centre has been set up in Japiur.

At the centre all the education and learning related to banking services, insurance, financial literacy will be provided. A memorandum of understanding (MoU) for this purpose was signed Friday between the state government and BSE Institute Limited, a wholly owned subsidiary of BSE...

Posted 11:29:14 AM Complete Story | Post Comment | Read Comments(1)

Friday, January 16
Special campaign for MSME by Bank of Maharashtra

With the intent to assist the Micro, small and medium enterprises (MSME) sector the Bank of Maharashtra has planned to organize a campaign for them. The camp will be from 19th January to February 7, 2014. This campaign is especially for the MSME sector offering financial assistance to them.

Zonal manager of the bank, Delhi reported that bank wishes to extend the loan of up to Rs 1,000 crore during the campaign. The Bank...

Posted 11:30:53 AM Complete Story | Post Comment | Read Comments(1)

Friday, January 16
Federal Bank gained a profit of 15%

For the third quarter ended December 2014, the Federal Bank has reported, increase its net profit. The bank has gained the profit of 15%. With the profit the bank has managed to earn Rs 264.69 crore.

Last year during the same fiscal the net profit of the bank was Rs 230.13 crore and this time it has went up to Rs 264.69 crore. On the other hand the total net income of the bank...

Posted 11:25:30 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 15
SBT bank organized open house to interact with customers

Last day an associate bank of the State Bank of India- State Bank of Travancore organized an open house for the customers. At the open house the bank interacted with the customers attended their complaints and needs.

It was organized at the head office of the bank. On the basis of the complaints and suggestions the bank will improve and enhance its services. It was reported that if required the ongoing processes will...

Posted 11:20:03 AM Complete Story | Post Comment | Read Comments(1)

Thursday, January 15
RBI reduced Repo rate by 0.25%

It is being reported that the apex bank of the country has cut the repo rate by 0.25% before the coming monetary policy on February 3, 2015. The rate will cut down to 7.75%. Prior to this the repo rate was 8%, and the new rate is applicable from yesterday itself.

The cash reserve ratio (CRR) was kept unchanged at 4.0 per cent. RBI reported that inflation is likely to be below 6 per...

Posted 11:13:01 AM Complete Story | Post Comment | Read Comments(2)

Wednesday, January 14
BMB bank has plans to increase its banking network

Women oriented bank of the country – Bhartiya Mahila Bank established in November 2013, is planning to expand its network by next fiscal year. The bank has plans to increase its banking branches by 150 till next year.

In a time period of approximately 1 year bank has succeeded to successfully establish 40 branches all over the country. Till now bank has disbursed Rs 350 crore. Bank is furthering planning to increase its...

Posted 11:44:04 AM Complete Story | Post Comment | Read Comments(1)

Wednesday, January 14
Indian bank opened a new branch in Pon Nagar, Namakkal

Recently Indian Bank has inaugurated a new branch in Namakkal. The bank has opened the 30th new branch in the district in Pon Nagar on Salem Main Road. The District Collector Mr. V. Dakshinamoorthy inaugurated the new branch.

At the occasion it was reported that bank this aims to have a business of Rs 3 lahk crore. Last year bank had a business of Rs 2.86 lakh crore. At the inauguration ceremony P.R. Sundaram...

Posted 11:38:30 AM Complete Story | Post Comment | Read Comments(1)

Wednesday, January 14
New product rolled out by KVG bank

Regional Rural bank – Karnataka Vikas Grameen Bank rolled a new term deposit product. The new product named – ‘ Vikas Tax Saver’. The bank has launched the product in Dharwad. Under this product income-tax payers can deposit Rs 1.5 lakh in this term deposit and can get income-tax benefit on it.

This product will offer an interest rate of 8.6% to general public and senior citizens will be offered rate of 9.2%....

Posted 11:28:31 AM Complete Story | Post Comment | Read Comments(1)

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