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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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Monday, January 12
Banks introduced foreclosure penalties

It has been introduced the leading banks of the nation has introduced foreclosure penalties,while the PSU banks were offering penalty waivers to attract depositors.Lately many of the banks have decreased their rates. The Indian overseas bank has announced that the foreclosure penalaties are applicable from 7th January itself.

The reports stated that State bank of India does not charge any foreclosure levy for deposits of Rs 15 lakhs and above if the deposit has remained...

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

Monday, January 12
RBI put in place a new mechanism for grant of financial assistance to the NGOs

The apex bank of the country has decided to educate and aware the depositors. The bank will organise mechanism for grant of financial assistance to the NGOs. Under this financial grants all the NGOs, non profitable organizations corporate will be included.

The banks have further instructed to transfer inoperative deposit accounts and balances (along with interest) that are unclaimed for 10 years or more to the Fund. Entities can use Fund grants for awareness...

Posted 11:04:49 AM Complete Story | Post Comment | Read Comments(1)

Friday, January 9
RBI organized a financial literacy camp at Guwahati

With the desire to boost the financial literacy, yesterday the apex bank of the country has organized a one day financial literacy camp at Guwahati. The camp received a good response and nearly 300 people attended the camp.

Many eminent personalities of the banking industry attended the camp including Assistant General Manager, RBI, MIM Guite, Assistant Manager, RBI, Sonawane, Senior Manager of Manipur Rural Bank Head Office, Yaiskul, Manager of SBI, REgional Office, Deveshwar,...

Posted 11:50:35 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 8
Vijaya Bank hiring for the post of Probationary clerk under sports quota

Vijaya Bank is inviting applications for the post of the Probationary Clerks under the sports quota. In order to apply the candidate needs to be passed XII Standard examination or equivalent from a recognized University/Board. The candidate must be in the age group of 18-28 years.

There are total numbers of 8 vacancies: Cricket-2 Basket Ball-4 Kabaddi-2

Interested and eligible candidates should fill the application in a prescribed format and submit it to the...

Posted 11:19:01 AM Complete Story | Post Comment | Read Comments(1)

Thursday, January 8
Candidates applied for the clerical post with the associate banks of the SBI can download the admit cards from SBI website

All the candidates applied for the clerical post with the associate banks of the SBI are informed that the call letters has been released. The candidates can download their admit card from the official website of the SBI bank.

In order to download the admit cards the candidate can follow the instructions given below: Firstly Log on to the official website of SBI. Look for the tab called “Careers with us”. There will be...

Posted 11:13:29 AM Complete Story | Post Comment | Read Comments(1)

Wednesday, January 7
SBI bank reported increase of 46% in mobile banking

The highly network bank of the country State bank of India reported a surge in its mobile banking. The reports showed that there is an increase of 46% in mobile banking in the January-December 2014 period compared to the year ago period.

In a period of year the number of mobile banking transactions have increased from 85.78 lakh to 1.25 crore transactions. The average mobile transaction per customer was Rs7,052.Mobile banking is playing a...

Posted 11:31:09 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 7
PNB bank revised rates on term deposits

Punjab National Bank has revised its interest rates on fixed deposits. The bank has increased the rate by 0.5% on various maturities. The new rate has for the period of 7-14 days has been increased to 4.50% from 4%. For the period of 30-45 days the new rate is 5%.

The revision has been made for the deposits of up to RS 1 crore. For term deposits of period of 180-270 days, the rate...

Posted 11:20:03 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 7
Dena bank increased FCNR deposit rates

Last week Dena Bank hiked its interest rates on FCNR deposits. It has been reported that on various maturities the bank has increased the rates. The rates are effective from the 1st January itself.

The revised rates for deposits of 3 to less than 4 years in dollar is 4.3 per cent (from 4.11 per cent earlier); 4.57 per cent for 4 to less than 5 years; 4.77 per cent for 5 years; 2.89...

Posted 11:05:11 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 6
Private sector banks making more hiring in comparison to the public sector banks

According to the recent reports it has been noticed that govt. banks are expanding their network faster in comparison to the private sector banks. On the other hand the maximum of the hiring is done by the private sector banks in the country.

The data have shown that one in every four bank employees works with a private bank today. In the past nine years a total of 292,639 hiring is done out of...

Posted 11:49:50 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 6
United India insurance company planning to set up a new Branch in Sri lanka

Private Insurance company – United India Insurance Company is looking forward to set up its branches overseas. The company has the plans to expand its network outside the country. The United India will set up a new branch in Sri lanka. The company stated that many of the Tamil -speaking people are doing business there, so it would be beneficial for the company.

By the next year the company hopes to establish the new...

Posted 11:48:03 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 5
Syndicate bank hiring candidates for various posts

Syndicate bank is inviting applications for 41 posts. The bank will be hiring candidates for the post of chief managers, senior managers & technical officers. The interested candidates can apply online by visiting the official website of the bank.

The registrations will begin from tomorrow. In order to apply candidate needs to have Graduate, Post Graduate, LLB from a recognized University. The detailed information regarding this is available on the website of the...

Posted 10:59:42 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 5
Dena bank revised its FCNR rates

Recently Dena bank has revised its interest rates on FCNR deposits. The bank has increased the rates on various maturities from 1 year to 5 years. The new revised rates are applicable from the New Year itself.

For the period of 3 to 4 years in USD the bank has revised the rate to 4.3% from 4.11%, 4.57 % is the new rate for 4 to less than 5 years, for 5 years...

Posted 10:57:47 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 2
BOB bank trimmed its rates on term deposits

It has been reported that for the period of 1 to three years, Bank of Baroda has reduced its rates by 0.15% and for deposits maturing after five years the bank has reduced the rate by 0.25%. From 1st January,2015 the new rates are applicable. The rate for the 1-3 years has been reduced to 8.75% from 8.90% and for the five yeras and above the rate is 8.50%, earlier it was 8.75%.BoB had earlier...

Posted 10:01:57 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 2
RBI inviting apllications for the Junior Engineering post

The apex of the country announced to recruit candidates for the post of post of Junior Engineer (Civil) and for the post of Junior Engineer (Electrical). The interested candidates can apply online through the official website of the RBI.

There are total number of 36 posts, candidates are required to apply from 17th Janary 2015. For Junior Engineer(Civil): Minimum three years Diploma in Civil Engineering from a recognized Institute or University or Board with...

Posted 10:00:29 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 30
Increasing Banking frauds in the country

Recent data has shown that that the banking frauds, misuse of credit cards and cyber crimes have increased by 40% in last two years. According to Home Ministry statistics, as many as 71,780 cyber frauds were reported in 2013, while 22,060 such cases were reported in 2012.

A large number of cyber crimes constitute of banking frauds. Many accounts are hacked and then are misused for making transactions. Even on the name of RBI many...

Posted 11:18:33 AM Complete Story | Post Comment | Read Comments(1)

Monday, December 29
Banking for seniors

Various banks are offering several schemes to the senior citizens making banking more enhanced for them. ING vysya Bank offers Zwipe Senior account facility where many banking charges are waived like charges for SMS alerts for banking transactions made.

Many Banks offer discounted maintenance charges from the second year onwards to the senior citizens. Banks have special provisions for the senior citizens so that they can be provided with banking facilities with maximum ease.

...

Posted 11:30:40 AM Complete Story | Post Comment | Read Comments(1)

Monday, December 29
SBI launched a financial literacy and credit counseling program

On Saturday State bank of India organized a financial literacy and credit counseling programme. To educate the people regarding the various banking facilities available under the PMJDY, the bank has organized this program at at Sagolband Sayang Kuraomakhong, Bamon Mandop.

KMUC president Salam Raju, attended the program along with the Lead Bank CM, BC Verman, SBI Chandel, Churachandpur and Thoubal Lead Bank CM N Nimai. It is reported that nearly 80 people attended...

Posted 11:23:43 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, December 24
Pocket by ICICI bank – a new app to make banking easy

Recently ICICI bank has rolled out an innovative application for its customers. The bank has launched ‘pocket by ICICI bank’ which will help its NRI customers all over the world to access their bank account on Facebook. The bank will effectively facilitate its NRI customers with the banking facilities through the social media site.

The app will allow the customers to carry out functions like viewing account summary, e-statement and mini statement also....

Posted 11:55:50 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 23
Syndicate Bank to set up new branches overseas

Syndicate bank is looking forward to open its new fully fledged branches outside the country. The bank wants to expand its network abroad and set up new branches in Dubai and South Africa by next year.

Till now the bank is having its overseas banking through its branch in London which was established in 1977. The bank has applied for the permission to the apex bank of the country – RBI. The executive director...

Posted 11:33:13 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 23
SBI PO result is out

All candidates who are waiting for the SBI PO exam result are being informed that the bank has released the result. All the candidates can check their score on the official website of the bank.

In order to check the candidate need to visit the SBI official website then go to the career page and then look for the option SBI Probationary Officer Written Exam Phase 1 Marks, click the option candidate will be...

Posted 11:25:05 AM Complete Story | Post Comment | Read Comments(0)

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