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Top Stories |
Indian Bank to set up three more branches in Sri Lanka
Indian Bank has applied to the Reserve Bank of India to open three more branches in Sri Lanka. The bank plans to open a branch each in Batticaloa, Trincomalee and Hambantota, it's Chairman and Managing Director, Mr T. M. Bhasin, said.
SBI cuts education loan rates by 25-100 basis points
State Bank of India has cut the interest rates on education loans by 25-100 basis points, although it has retained its Base Rate at 10 per cent. The bank has reduced the margin above the Base Rate for the loan.
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Indian Financial Institutions |
KVG Bank's biz crosses Rs 10,000-cr mark
Karnataka Vikas Grameena Bank (KVG Bank), a Dharwad-based regional rural bank, has crossed the Rs 10,000 crore-mark in total business. “The bank as on mid-February reached a total business of Rs 10,026 crore-milestone.
Karnataka banks achieve 90% of priority sector credit target
Banks in Karnataka have achieved 90 per cent of their priority sector credit target for the fiscal up to December 2011, the chairman of the State-level bankers' committee said at the 120th SLBC – Karnataka meeting.
HSBC India profit up 20% on strong growth in commercial biz
HSBC's India operations reported a profit before tax of $813 million for the year ended 2011 — 20 per cent higher than the $679 million in the previous year, 2011.
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Insurance |
National Insurance Co told to pay Rs 1lakh to policy holder
Holding National Insurance Co Ltd (NICL) guilty of rendering deficient service, a consumer court has asked it to pay its vehicle insurance policy holder Rs 1 lakh as compensation and reimbursement of the cost of repairs of his vehicle.
SKS securitises loans worth Rs 354 cr
SKS Microfinance, the country’s only listed micro lender, today said it has securitised Rs 354 crore of receivables from 18 States, except Andhra Pradesh. The securitisation was done by a major public sector bank, SKS said in a statement, without naming the lender.
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Debit card usage on the rise, but mainly at ATMs
The use of debit cards in India has caught on, but not in the way that banks want. Banks, especially from the public sector, are discovering that their customers prefer using debit cards mainly for withdrawing cash from ATMs. For shopping or eating out, customers prefer using cash, even though most retail stores and restaurants now accept card payments.
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28.2.2012
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| Currency |
Rate (Rs.) |
Change |
| USD |
48.73 |
0.20 |
| Euro |
65.05 |
-0.20 |
| GBP |
77.33 |
-0.68 |
| Yen (100) |
60.00 |
1.00 |
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28.2.2012 16.00
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| |
Index |
Change |
| NIFTY |
5375.5 |
94.3 |
| SENSEX |
17731.12 |
285.37 |
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Market Updates |
Sensex surges 285 points
The BSE Sensex closed nearly 300 points higher after a four-day slide led by sustained buying in realty, capital goods and banking shares. According to dealers, the market is witnessing a technical bounce back after a sharp correction and is expected to remain rangebound.
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