Canara Bank raises Rs 1,500 cr

Canara Bank on Friday said that it has raised Rs 1,500 crore through the issue of Basel-III compliant Tier-II bonds.This was over and above the Rs 500 crore that the Government has decided to infuse in into the public sector lender before March 2014.For the proposed capital infusion from the Centre, an extraordinary general meeting of shareholders was held on December 30. Source: Thehindubusinesslin...

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Indian Bank, IOB target prospective home buyers

In an attempt to target prospective home buyers, public sector lenders - Indian Bank and Indian Overseas Bank - are offering home loans at interest rates of 10.20 and 10.25 per cent, respectively.“Indian Bank is offering home loans at 10.20 per cent across various slabs irrespective of the tenure for people looking forward to build homes,” the city-based bank said in a statement.Similarly, Indian Overseas Bank, as part of targeting women customers, is offering housing loan at 10.25 per cent, irrespective of the tenure and loan amount under...

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Indian Overseas Bank launches IOB-Connect card

Targeting young individuals, public sector Indian Overseas Bank  launched ‘Connect Card’, a new ATM cum Debit card in association with VISA that can be used for e-commerce across five lakh merchant outlets.Though all IOB customers have been provided ATM cum Debit card, Connect Card is targeted at the younger generation aged between 10 and 28 years, the city-based bank said in a statement.IOB Connect cards can be used at over five lakh outlets as well as for online shopping. Encouraging e-payments, the bank offers five per cent cash back...

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No new capital needed for 2 yrs post Rs 11.5K cr QIP: SBI

SBI will not require fresh capital for two years after its forthcoming Rs 11,500 crore qualified institutional placement goes through, and any overseas bond sale is expected only after the QIP.“That (government infusion through a preferential issue followed by the QIP) is the process we are going to follow this year and it will see us for the next two years,” SBI Chairperson Arundhati Bhattacharya told PTI in an interview.Post QIP, for which State Bank of India received shareholders nod earlier this week, government holding in the bank will...

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KVB ties up with Bajaj Allianz for health card

Karur Vysya Bank has tied up with Bajaj Allianz General Insurance for the roll-out of a co-branded health card.The formal launch of this card happened at Karur on Friday, with the Chief Executive of Karur Vysya Bank, K. Venkataraman, receiving the first cardThe bank is looking to issue 25,000 health cards in three months. “And it will not be restricted to our customers, but any individual seeking a health cover,” a senior official of the bank said.The entry age is between 18 and 65 years and children from the age of three months are eligible...

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Kotak Bank says seeing fall in home loan book growth

Private sector lender Kotak Mahindra Bank is witnessing a sizable reduction in its home loan book growth in the current fiscal at 10-15% levels on poor consumer sentiment, a senior official has said."For the past two years, our home loan book has been growing at 30-40%, but this year it has grown by only 10-15%," executive vice-president and head of retail assets Sumit Bali told PTI.He said the poor market sentiment is the prime reason for the slowdown in home loan growth and the same trend is being witnessed by the realty sector as well where...

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PSU banks raise over Rs 15,000 cr through QIPs

State-run lenders including SBI and IDBI Bank have lined up more than Rs 15,000 crore worth of share-sales to institutional investors to shore-up their capital base.Apart from State Bank of India and IDBI Bank, Indian Overseas Bank, Dena Bank and Allahabad Bank has also evinced interest in raising funds through qualified institutional placement (QIP). Some more public sector banks are in the process of taking approvals from their boards for QIPs.These banks are collectively planning to rake in over Rs 15,000 crore through the proposed share-sale...

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Pradeep Kumar takes charge as MD Corporate Banking, SBI

State Bank of India has appointed P Pradeep Kumar as its Managing Director (Corporate Banking).Kumar, as one of the four managing directors, will look after the corporate banking portfolio of the bank.“ ...with effect from December 27, as per notification of government of India, P Pradeep Kumar will be the Managing Director & Group Executive (Corporate Banking) of State Bank of India (SBI),” the bank today said in a statement.Kumar, a post graduate in statistics, joined SBI in 1976 as a probationary officer and held several key assignments...

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Banks' loans up 14.9 per cent y/y in two weeks to December 13: RBI Read more at: http://economictimes.indiatimes.com/articleshow/28012658.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Read more at: http://economictimes.indiatimes.com/articleshow/28012658.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Banks' loans rose 14.9 per cent from a year earlier in the two weeks to December 13, while deposits grew 17 per cent, the Reserve Bank of India's weekly statistical supplement showed on Friday.Outstanding loans rose 363 billion rupees to 57.01 trillion rupees in the two weeks to December 13.Non-food credit rose 329.6 billion rupees to 55.94 trillion rupees, while food credit rose 33.4 billion rupees to 1.08 trillion rupees.Bank deposits rose 462.9 billion rupees to 75.24 trillion rupees in the two weeks to December 13.Source: Economic Time...

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