Ratnakar Bank gets Rs 328 crore infusion from global investors

Ratnakar Bank said it has received Rs 328 crore in capital infusion from leading global investors like CDC Group and Asia Capital & Advisors.Existing investors, including International Finance Corporation (IFC) and Gaja Capital, also participated in this round of capital infusion, the private lender said in a statement here.The exercise was part of the bank's third round of financing which started three years ago."These new funds will assist the bank in expanding its branch network in semi-urban and rural areas of as well as providing a...

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Bharatiya Mahila Bank plans to open 57 branches in 2014-15

Bharatiya Mahila Bank on Monday said it plans to open 57 branches across the country this fiscal year (FY15) to take its total number of branches to 80 by March 2015.The bank plans to launch its net banking services shortly, for the convenience of its customers, it said in a statement.In this short span of four months, BMB has opened 23 branches across the country with a presence at Mumbai, New Delhi, Bengaluru and Chennai.Source: ndt...

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RBI to issue Rs. 10 with inset letter 'A' in numbering panel

The Reserve Bank of India will shortly issue Rs. 10 denomination banknotes incorporating "Re"symbol on the obverse and reverse, with inset letter 'A' in both the numbering panels, in the Mahatma Gandhi Series-2005 bearing the signature of Dr. Raghuram G Rajan, Governor, RBI, and the year of printing '2014' printed on the reverse of the Banknote.The design of these notes to be issued now is similar in all respects to the Rs. 10 Banknotes in Mahatma Gandhi Series- 2005 issued earlier, the RBI said in a notification on Monday. All the Banknotes...

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Hitachi-Omron Terminal Solutions has entered Indian market of self-service terminal for banking with Cash Deposit / Cash Recycling ATM

Hitachi-Omron Terminal Solutions, Corp. (Hitachi-Omron Terminal Solutions) today announced that the number of Hitachi Cash Deposit / Cash Recycling ATM, HT-2845-V in operation in India has exceeded 1,000. Hitachi-Omron Terminal Solutions is the first manufacturer who achieved more than 1,000 Cash Deposit / Cash Recycling ATM in service in India.In India, major installation of self-service terminal of banking transaction has been Cash Dispensing ATM (CD). In accordance with rapid economic growth in India, the needs of deposit automation has...

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The RBI said that there is no justification for banks to charge pre-payment penalty on any loan which usually have floating rate of interest

The Reserve Bank of India (RBI) is expected to direct banks to cancel penalty on pre-payment of all retail and small corporate loans. The central bank is also likely order banks do away with fines for failure to maintain minimum balance, according to a media report.The RBI said that there is no justification for banks to charge pre-payment penalty on any loan which usually have floating rate of interest. Floating rates charge interest rates based on the prevailing markets, however with a lag of a few days or weeks, the report added.Last week,...

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SBI to offload up to Rs 4,000 crore bad loans to ARCs

India's largest banker SBI is selling off its non-performing assets (NPA) of around Rs 3,500 -4,000 crore for the financial year 2013-14 to asset reconstruction companies (ARC)."We are selling NPA between Rs 3,500-4,000 crore of NPA," SBI chairman and managing director Arundhati Bhattacharya said last evening at IIM Calcutta.SBI has total bad assets of Rs 67,799 crore. It had reported 5.73 per cent of its assets as bad loans in the October-December quarter.It had said earlier that there were 14 ARCs functioning and many of them had been invited...

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Federal Bank plans to open office in Dubai

Private lender Federal Bank plans to open an office in Dubai as part of its strategy to expand its global footprint and cater to the Indian diaspora."We have approached the Reserve Bank to seek their permission to open a representative office in Dubai (UAE)," Federal Bank Managing Director Shyam Srinivasan told PTI.The bank is awaiting regulatory approval for opening the representative office there, he said. The bank already has a presence in the United Arab Emirates with a representative office in Abu Dhabi.Domestically, the bank headquartered...

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State Bank of India to hold home loan rates

The State Bank of India (SBI) will hold on to its home loan rates, a senior official of the bank said here."Home loan rates will remain as they are," SBI Chairperson and Managing Director Arundhati Bhattacharya said on the sidelines of the IIM Calcutta's 49th convocation.The RBI on Tuesday kept policy rates unchanged but lowered the borrowing limit for the banks from the overnight facility. A lowering of borrowing limit is likely to translate into increase in cost of funds for the banks."Cost of funds will go up but we are not considering any...

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Banking licence to IDFC may affect infra sector: SBI

The State Bank of India (SBI)  welcomed competition in the banking sector but apprehended that IDFC's entry into banking may impact the infrastructure sector."We welcome RBI's decision on banking licence. Only thing is that IDFC was a major player in the infrastructure segment. Now they will need to build their own portfolio to balance their book."Going forward, I don't see them playing a big role in infrastructure, which for the sector is not good. We need all the people we can get to fund infrastructure sector," SBI chairperson Arundhati...

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