Banks have come to realise that recession or no recession, education loans are a low-risk business.
Balachandran M, Director of the Institute of Banking Personnel Selection, has little time to catch his breath. He and his team have been supervising recruitment of nearly 100 public sector bank employees every day.
The Mangalore Special Economic Zone Limited (MSEZL) is facing stiff opposition from the landholders who are resisting acquisition of their lands.
"The entry of other players in this segment will help in reiterating the benefits of the cash-and-carry concept to Indian customers," Metro India Managing Director Martin Dlouhy says. It may be the first time anywhere in the world that Wal-Mart and Metro square off in the cash & carry format. Dlouhy's apparent nonchalance can't hide the fact that Metro may be facing one of its most difficult challenges in the country.
The company, which is bidding for 16 road projects worth Rs 10,000 crore (Rs 100 billion) this year from the National Highways Authority of India under the public-private-partnership model, intends to invest the money in the form of equity to set up special purpose vehicles to execute new road projects.
The clauses on corporate debt restructuring (CDR) are being reworked in view of the huge foreign exchange exposure of several companies, which have already opted for restructuring debt or are on their way to seeking approval for one.
Canara Bank has put on hold its plan to sell non-performing assets with realisation value of around Rs 250 crore (Rs 2.5 billion) after lukewarm response from asset reconstruction companies (ARCs).
As part of wage settlement, new recruits will be asked to shift to the New Pension Scheme.
ICICI Bank, the country's largest private sector bank, has scaled down its overseas operations, especially in the United States and Sri Lanka. It has also recalled some employees from its international offices now that the businesses of fund-raising and merger and acquisitions have shrunk.
Failed attempt to acquire stake in Kolhapur-based bank seen as trigger.
While the level of non-performing assets for banks is on the rise, despite the Reserve Bank of India's push for debt restructuring, cases referred to the corporate debt restructuring cell increased to 34 at the end of March 2009, as against 10 at the end of 2007-08. CDR, which was set up in 2002-03, is a mechanism for faster disposal of restructuring cases involving multiple lenders, though foreign banks are yet to join the platform.
Within 15 days of opening the registration process for Nano, its Rs 1 lakh car, Tata Motors has sold nearly 5,00,000 application forms, raking in Rs 15 crore (at Rs 300 each). Distributors associated with the Nano bookings said most of the forms were likely to translate into bookings.
Loans at a discount to the benchmark prime lending rates of banks are back with a majority of the fresh loans being disbursed at sub-PLR rates.
With interest rates softening, banks are slowly re-pricing the cost of short-term credit extended to the corporate sector.
"This is for the first time that a manufacturer will charge for an application form. However, it will be refunded if an application is rejected," said a senior bank executive. Bookings are expected to start by the last week of March. The forms will be collected through various channels. "All the forms and the collected money will be transferred to SBI, where they will be processed, and loans will be given through various banks within 90 days," said a source.
Former India cricket captain, Kapil Dev Nikanj,on Monday entered into a marketing agreement with South Africa-based Enviro-Light Technologies, promoted by former South African captain Clive Rice to launch eco-friendly street lights in India.
To take up debt restructuring of cash-strapped retailer.
Public sector banks could see higher pressure on their net interest margins in the coming months as they have mopped up large amounts of deposits at higher rates and have also effected steep cuts in lending rates between November 2008 and January 2009.
Public sector banks are increasingly looking at promoter funding as a business opportunity when others are shying away from it.
The study conducted at select bank branches in the Cuddalore district of Tamil Nadu has found that the lack of financial literacy was the main reason behind the non-operative accounts. Other aspects like distance from branches also had their share in influencing the degree of usage.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances