Brokerage firm HDFC Securities will open 50 branches across the country and add 4 lakh new customers during this financial year to expand its operations. HDFC Securities managing director and chief executive Dhiraj Relli said.
The firm, having 250 branches in 185 cities across the country, is focusing more on offering digitised services through its website and mobile applications.
Bank of Maharashtra, MUDRA seal pact to finance small business
Bank of Maharashtra and MUDRA Bank have signed an agreement to finance new entrepreneurs and small businesses.
To provide credit facilities to small business, the central government aims to facilitate credit up to Rs 1 lakh crore under MUDRA (Micro Units Development and Refinance Agency) scheme in the current year.
"Bank of Maharashtra and MUDRA Bank signed a general refinance agreement to finance new entrepreneurs and small business," Bank of Maharashtra said in a statement.
Under the new scheme, there are three categories of loans -- 'Shishu' (loan of up to Rs 50,000), 'Kishor' (loan above Rs 50,000 up to Rs 5 lakh) and 'Tarun' (above Rs 5 lakh and up to Rs 10 lakh) -- that will be sanctioned and disbursed by banks, it said.
The amount will be refinanced through MUDRA Bank.
HDFC Bank breaches RBI limits on loans to Reliance Industries
Leading private sector lender HDFC Bank has "exceeded" the single-borrower limits prescribed by regulator RBI in case of its credit exposure to corporate giant Reliance Industries Ltd (RIL).
The bank, however, said its board of directors approved "the said excess in respect of this exposure" and it was within the 20 per cent ceiling of capital funds.
The central bank has fixed the credit exposure ceiling of a bank at 15 per cent of capital funds in case of a single borrower and at 40 per cent in case of a borrower group.
The RBI allows banks to enhance this exposure by further 5 per cent of capital funds in exceptional circumstances, with approval of their boards.
Half of internet users globally trust branch banking more than online option
Almost half of internet users surveyed across the globe believe traditional branch banking is safer than banking online, according to a study carried out by Kaspersky Lab and B2B International.
Most of them still make online transactions to avoid the hassles of visiting branches. But many fail to take even basic security measures, putting their money and banks' reputations at risk, said the study after interviewing 11,135 respondents from 23 countries including India.
It said 46% of internet users participated in the survey believe traditional over-the-counter banking is safer than the online option.
Exim Bank lends $268 million to Tanzania to extend water pipeline
Export-Import (Exim) Bank has extended a line of credit of $268.35 million to Tanzania for financing extension of Lake Victoria pipeline.
With this agreement, Exim Bank has now in place 198 LOCs, covering 63 countries in Africa, Asia, Latin America, Europe, Oceania and the CIS, with credit commitments of over $12.10 billion, available for financing exports from India.
Till date, the bank has sanctioned an aggregate amount of $2.33 billion for 19 projects valued $3.75 billion under the BC-NEIA.
South Indian Bank launches new mobile app SIB MIRROR
South Indian Bank has rolled out SIB Mirror, an innovative mobile application with shake to transfer funds and shake to know your balance features which are unprecedented in the banking industry.
V.G Mathew, MD & CEO launched the application at the Christ University Campus, Bangalore.
SIB Mirror, developed in-house is a one stop solution for many banking needs.
The features like
1. Gesture support for menu access
2. Click to share account info and menu navigation using voice recognition make the application even more user-friendly.
3. The application acts as a virtual branch that offers different menus for transferring funds, tracking daily transactions, calculating interest, applying for deposits and loans and much more.
4. SIB Mirror is a free app and available in Android, i0S, Windows and Blackberry platforms
