Indian Overseas Bank (IOB) has organised a ‘Retail Utsav’ across all its bank branches in Delhi. In its statement, the bank has told that it has sanctioned approximately Rs. 44 crore under various retail and MSME loans scheme to its bank customers at the function. Meanwhile, the bank also plans to lend greater focus on retail lending to cater to increased demand from customers.
2017-08-18 :Karnataka Bank ventures into social media
Karnataka Bank has ventured into social media by opening its official pages in social networking sites including Facebook, Twitter, Instagram and YouTube. The official social handle of the bank is @karnatakabank for Twitter and Facebook, and @officialkarnatakabank for Instagram.
2017-08-18 :Punjab National Bank revises interest rates on saving accounts
Following the footsteps of SBI, Punjab National Bank (PNB) has also decided to slash its savings bank deposit rate. Post revision, customers maintaining savings bank account balance of Rs. 50 lakh and above will continue to earn interest at 4 per cent per annum while those maintaining account balance of below Rs. 50 lakh will earn interest at the rate of 3.5 per cent per annum from earlier 4 per cent. The revised rates will come into effect from 19th August, 2017.
2017-08-18 :SBI holds home loan utsav in Bengaluru
State Bank of India (SBI) has successfully held its home loan utsav at its local head office in Bengaluru. The home loan utsav was attended by more than 6,000 people making it a grand success with the presence of many renowned personalities.
2017-08-18 :NBFCs are now a bankable source of funds for SMEs
Non Banking Financial Companies (NBFCs) have become a source of funds for majority of MSMEs. In spite of having over 3,000 specialised branches that deal with MSMEs, Bank’s lending to this sector has remained lukewarm. The RBI estimates that SMEs need around Rs. 26 lakh crore but banks have been able to provide just 40 per cent of that so far.
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