Bank of Baroda becomes a registered bank in New ZealandSeptember 1st, 2009 WELLINGTON - The Reserve Bank of New Zealand has given permission to the Bank of Baroda to begin trading in the country, making it the nation's 19th registered bank. India's third-largest public sector bank first indicated a desire to enter New Zealand when then-chairman Anil Kumar Khandelwel visited the country in 2007, stuff.co.nz reports.
Allahabad Bank reduces lending rateJune 27th, 2009 KOLKATA - State-run Allahabad Bank Saturday decided to slash its benchmark prime lending rate by 25 basis points from July 1.
"The bank has decided to reduce the benchmark prime lending rate by 25 basis points from the existing 12.25 percent to 12 percent with effect from July 1, 2009," the bank said in a regulatory statement.
UBI to reduce interest rates by 25 bpsJune 24th, 2009 KOLKATA - The state-owned United Bank of India (UBI) has reduced the benchmark prime-lending rate (BPLR) by 25 basis points, a bank statement said here Wednesday. The bank has reduced prime-lending rate by 25 basis points to 12 percent with effect from July 1, 2009, S.C.
Allahabad Bank not likely to cut rates soonJune 24th, 2009 KOLKATA - State-run Allahabad Bank is unlikely to cut either interest rates or deposit rates soon, a top bank official said here Wednesday. There is a demand that interest rates should be made affordable but there are other factors that need to be taken into account, the bank's chairman and managing director K.R.
UCO Bank to slash lending rates next weekJune 19th, 2009 KOLKATA - The city-based UCO Bank will cut its deposit and lending rates by 50 basis points soon, a top bank official said here Friday. We would cut both the deposit and lending rates by 50 basis points from June 27, UCO chairman and managing director S.K.
Three state-run banks to set up joint Malaysian subsidiaryJune 4th, 2009 MUMBAI - Bank of Baroda, Indian Overseas Bank and Andhra Bank will set up a joint subsidiary in Malaysia, it was announced Thursday. "The subsidiary is proposed to be named as India BIA Bank (Malaysia) Bhd," Bank of Baroda said in a regulatory statement.
PNB reduces lending rate by 50 basis pointsApril 30th, 2009 NEW DELHI - The Punjab National Bank on Thursday reduced its benchmark lending rate by 50 basis points to 11 percent. The Benchmark Prime Lending Rate (BPLR) has been slashed from 11.5 per cent to 11 per cent effective tomorrow, the bank said in a statement.
Punjab National Bank cuts lending rateApril 30th, 2009 NEW DELHI - Public sector lender Punjab National Bank (PNB) has reduced its benchmark lending rate by 50 basis points to 11 percent, it announced Thursday. The benchmark prime lending rate (BPLR) has been slashed from 11.5 percent to 11 percent from Friday, the bank said in a statement.
Bankers say no to lowering lending ratesApril 8th, 2009 MUMBAI - Concerned over the rising non-performing assets (NPA) and high cost of deposits, India's bankers Wednesday told the Reserve Bank of India (RBI) that there was not much room for lending rates to go down. 'If there is a sharper downturn, it can further impact the asset quality.
Punjab National Bank rules out further cut in interest ratesMarch 27th, 2009 NEW DELHI - The state-owned Punjab National Bank (PNB) feels it would be difficult to lower lending rates any further if the government did not slash interest rates on existing deposits. 'The Reserve Bank of India (RBI) is not reducing interest on savings bank deposits.
Punjab National Bank cuts car loan rates by 50 basis pointsMarch 1st, 2009 NEW DELHI - Public sector lender Punjab National Bank (PNB) has lowered interest rates for car loans by 50 basis points, effective from Sunday. 'The interest rate on car loan would come down from 11-11.5 percent to 10.5-11 percent, with effect from March 1,' PNB said in a statement Saturday.
CBI arrests bank manager for accepting bribeJanuary 28th, 2009 NEW DELHI - The Central Bureau of Investigation Thursday arrested a branch manager of a bank here for accepting a bribe of Rs.150,000, an official statement said. 'The accused, Rajender Gupta, branch manager of Bank of Baroda at Janakpuri district centre here, demanded an illegal gratification of Rs 250,000 from the complainant, a civil contractor,' the statement said.
Two more banks cut lending ratesJanuary 1st, 2009 NEW DELHI - Two more state-owned banks joined the banking community in cutting lending rates by 50 to 70 basis points. In a regulatory statement, State Bank of Travancore announced Friday that it had revised the benchmark prime lending rate (BPLR) from 13.25 percent to 12.75 percent with effect from Jan 1.
Housing bank expects finance firms to reduce ratesDecember 29th, 2008 KOLKATA - India's apex housing finance institution, the National Housing Bank (NHB), expects housing finance companies to reduce lending rates, a top company official said here Tuesday. 'As we have reduced rates, we expect housing finance companies to reduce rates and pass on the benefits to consumers,' NHB chairman and managing director S.
More state-owned banks reduce lending ratesDecember 28th, 2008 NEW DELHI - Dena Bank, Punjab National Bank (PNB) and Bank of Baroda will reduce their benchmark prime lending rates (BPLR) from Jan 1, the three state-owned banks announced Monday. Dena Bank will cut its BPLR by 75 basis points from 13.5 percent annually to 12.75 percent.
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