PUBLIC SECTOR BANKS
Punjab National Bank loan mela
PUNJAB National Bank disbursed loans worth Rs 22 crore to small and marginal farmers at a samelan organised at Maloya village here on Wednesday. . Over 2,000 farmers from Haryana and Union Territory of Chandigarh attended the meet. The ... More

FOREIGN BANKS
Ombudsman gets good response from foreign bank customers
COMPLAINTS about foreign banks constitute the single largest block of grievances lodged with the banking ombudsman under the revised Banking Ombudsman Scheme, 2002. Data on the general trend of complaints, released by the office of the local ... More

INTEREST RATES
Banks enjoy wider spreads as low-cost deposits surge
AFTER having negotiated a rock-bottom deal of 7 per cent fixed rate for their group housing loan scheme, Mr Pradeepkumar and friends are laughing all the way home. But, if you thought that you had the best deal when you walked out of the bank ... More

CREDIT MARKET
Chamber seeks larger VC fund for SMEs
THE Associated Chambers of Commerce and Industry of India (Assocham) has called for enlarging the size of the Venture Financing Scheme (VFS) of Small Industries Development Bank of India (SIDBI) for small and medium enterprises (SMEs) from Rs 100 ... More

MERGERS & ACQUISITIONS
Law Ministry sees no technical hitch to IFCI-PNB merger
THE Law Ministry has said that merger of a financial institution (FI) with a public sector bank set up under the Banking Companies (Acquisition and Transfer of Assets) Act is possible under the current legal framework and that no fresh amendment ... More

RIGHTS ISSUE
Centurion Bank rights `fully subscribed'
CENTURION Bank today said that its rights issue totalling Rs 90.80 crore was fully subscribed. The issue closed on September 22. After the Tier I capital raised through the rights issue, the bank is planning a Tier II subordinated bond issue ... More

PEOPLE
New Executive Director for RBI
MUMBAI: The Reserve Bank of India has appointed Mr V.K. Sharma as the Executive Director. Mr Sharma will look after the Internal Debt Management Department and the Premises Department, said an RBI press release. Prior to this, Mr ... More