Commercial Banking In India.

Prime Services offered by a commercial bank include processing of payments by way of telegraphic transfer, issuing bank drafts and bank cheques, accepting money on term deposits, lending money through overdraft or through installment, providing letter of credit, safe keeping of documents, currency exchanges thereby enacting the role of a financial supermarket. The Commercial Bank lays more importance on loans that it provides to its customers. These loans are Secured Loans, Mortgage Loans & Unsecured Loans. A secured loan is one in which a borrower pledges some asset as collateral against the loan. A mortgage loan is granted to purchase property against security provided to the bank until the mortgage is paid of in full. The mortgage or loan can be repaid in easy installments. Unsecured loans are granted without any specific securities, under marketing packages like credit cards, debit cards, corporate bonds, etc. All in all a commercial bank raises funds by collecting deposits from businesses and consumers via checkable deposits, savings deposits, and time (or term) deposits & loans it to businesses and consumers. It also buys corporate bonds and government bonds. Its primary liabilities are deposits and primary assets are loans and bonds.

Commercial Banking in India categorizes itself into project finance & working capital. In the case of Project Finance banks in India offers long & short term loans to business houses to set up their projects. These kinds of loans are issued after approval from banks core credit validating committee. The Project Finance segment in the commercial department is highly competitive with different players in the department trying to get the best deals done by enticing different corporate houses and business organizations to opt for the loan by providing lucrative offers. Working Capital or Capital Funds are issued by banks to corporate or business houses to meet diverse needs and requirements of the business community. Working capital finance is specialized line of business and is largely dominated by the commercial banks.

Commercial Banking in India saw dramatic changes in the last decade after Indias integration with world economy. These economic reforms and the entry of private players saw nationalized banks revamp their service and product portfolio to incorporate new, innovative customer-centric schemes. Marketing and brand building programs were also given a new thrust in the new liberalized banking scenario. Promotional budgets were hiked to cater to the new and large discerning target audience. To meet the personalized needs of the customer and in order to differentiate its services, banks repositioned themselves in specialized fields, like housing loans, car finance, educational loans etc. to optimally service the customer. As of today Commercial Banking in India dominates other areas of banking such as retail banking and investing banking, solely due to influx and the term called installments that lures the customers to opt for loans to satisfy their business needs whether it is corporate or personal needs in terms of a mortgage loan. Commercial banking in India has definitely brought in a new dimension to regulation of finances in the Indian market.

Scope Of Forex Market In India

Introduction

Forex market also known as foreign exchange is a new concept for India. It is a place where various currencies are traded. Foreign exchange or forex means a market place where one currency is traded for another. The major players of this market are banks, financial institution, large companies, financial brokers and individuals. In the recent years forex trading has gained tremendous popularity. These are unique by its large volume, extreme liquidity, 24 hour trading availability and various types of options available.

Forex market and India

Indian forex market is small when compared with other developed countries but with the multinationals coming up and new government policies the path of expansion is on its new heights. The Indian government has now open up new ways to trade and regulated this market as well. India has shown great rise in its forex turnover in last three years. People now feel comfortable to trade in and exit from the market.

Indias share in world forex market has shown growth of 0.9% last year and will grow further. It is the fastest growth of any country. The growth rates of developed countries is much lower compared with developing countries.UK and US have shown the lowest change in contribution of foreign exchange. In India people are now more aware of the kinds of trading like derivative markets, options, swapping, hedging etc. The most important characteristic of forex is the impact on various currencies by the change in one currency rates. Any economic activity in world affects the forex market immediately.

Rules and Regulations

Indian forex market is regulated by FEMA that is foreign exchange management act 1999. It controls, regulates and manages the activities of forex market in India. All the queries, petitions come under this.

Factors

The factors which influence the forex market in India are government polices and rules, tax structure, inflation rates, RBI rates and interest rates, foreign trade policies, world bank interest rates and economic growth and health.

Conclusion

The three fold growth of forex trades in India has proved the upcoming power and will soon be called as a investment hub. The scope of forex market is very huge in India as it is in its initial stage. New developments are in row and very soon Indian market would emerge as a high potential foreign exchange market place.

Secure A Complete Piece Of Mind With Insurance Plans

Buying an Insurance plan makes the insured person or company feel secure and completely ready before an unanticipated incident takes place as the life is full of uncertainties. This is the time when one really understands the value of insurance plan and need to be covered for the future potential losses. To cater to the varying and unique needs of people, insurance companies have launched a number of insurance plans such as home insurance, travel insurance, health insurance, auto insurance and many other insurance plans.

The New India Assurance is the largest non-life Insurance company in the country and offers a wide range of insurance plans to cover the potential future losses. It provides insurance plans for the personal, industrial and industrial needs and has many other insurance plans as well and offers unmatched customer services. Under the personal category, it is offering
Personal Accident Policy, Pravasi Bharatiya Bima Yojana Policy, Motor Policy, Money Insurance and many others. Under the commercial category, it has Marine Cargo Policy, Shopkeepers Policy, Neon Sign Insurance , Aviation Insurance, Plate Glass Insurance among others. Fire Policy, Burglary Policy, Contractors All Risk Policy, Mega Package Policies are some of the plans which the company is offering under the industry category.

Similarly, Future Generali is offering all insurance solutions in India. The company is active in both the Life and Non-Life businesses and promises to meet all insurance needs of the people in the country. It is a joint venture between India’s Future Group and Generali Group which is an Italy based company. Besides these two companies, there are plenty of other companies which are offering a wide range of insurance products to the customers, and one can choose some of them online as well.

Among the all insurance plans available in India, Life insurance, Home Insurance, Auto Insurance and Health Insurance are the main ones. These four insurance plans have gained wide acceptance among the people as these plans help them to counter the future losses in the best possible way.

Buying an insurance plan: Buying an insurance plan is a wise decision in the modern world which is characterized by uncertainties and risks. However, before you sign up an insurance deal, assess what insurance plan you need and what level of cover would be suitable for your needs. Internet is a good option to search for the best insurance deal and check the details of the insurance plans, being offered by the insurance companies. Now-a-days, one can buy an insurance plan online as well. The New India Assurance is among many such companies which come out with new and innovative products and services to cater to the needs of the customers and provides them state-of-the-art facilities.

Choose The Best Credit Card In India

These days credit cards have become quite a necessity. Whether you want to purchase a thing worth small amount or big amount Credit card comes handy. Although every credit card comes with its own flaws and drawbacks, so selecting the best credit card is quite a mind boggling task.

The best type of card to obtain is from your bank, where you have a savings or current account and have been a customer for some time. Since banks are always vying for customers with excellent credit ratings they give out excellent rate as well as good promotional period. Consumers get lots of promotional offers to select credit cards and these promotional points can be used in shopping, air miles, grocery stores, discount on fueling and so on. Thus banks always keep some or the other promotional offer in the pipeline to attract customers.

Many financial institutes give credit cards, offering different-different services. So selecting right credit card can become confusing. Once you decided to apply for credit card then it is imperative to follow the card’s payment terms properly. The term signifies how you should use the card carefully and how to make the most out of your credit card. This way you can maintain you credit score properly and stay away from any unwanted fall-backs.

So being responsible and diligent are two important factors that can help you to stay away from unwanted credit score related problems for these credit cards. By possessing these two qualities, you are on the track of improving your credit score slowly but surely.

ICICI Bank offers best credit cards in India at best interest rates. ICICI Bank offers range of Credit Cards such as Coral, Visa, Titanium, and Platinum Credit Card to suit your needs. Based on your requirement you can select the credit card. You can also apply for credit cards online through ICICI Bank.

The most important thing about credit card is to pay your credit card generated bills on time. So for example if you decide to make a visa credit card applications just take care to follow its payment terms and do not exceed its limits to avoid the further damage of your credit score.

As long as you can pay off the balance in full when required, or when the promotional period is over, and exceed the minimum payment each month, a credit card can be a very nice financial alternative to having cash on your person.

Shared Services Excellence Award-winner Interview Nicola Stokes, Anz

SSON: How did you become involved with ANZs shared services program?

Nicola Stokes: I was appointed General Manager Shared Services in 2005. There was probably about two-thirds of the organization that exists today in place when I got there; the organization was all based in Melbourne at that stage. I think the most striking feature for me when I arrived was probably that the people didnt really understand why they were all put together in a shared service; each piece was run quite separately, and was very much a cost-driven service-delivery focus.

SSON: What functions are in place now?

NS: Basically as ANZ Shared Services exists now, we are responsible for HR Operations such as recruitment, remuneration, learning and development, pension/superannuation; Finance processes such as payroll, accounts payable, reconciliations, indirect taxes, information and reporting; Strategic Sourcing (IT and business services); and ANZ Environmental sustainability program and system. Weve expanded quite a lot over the last couple of years. We have a team of 400 now, half in Melbourne, and the other half are in India, in Bangalore with our captive center there. The clients are based in various geographies, Australia, New Zealand, India and SE Asia. The headcount for ANZ is about 35,000, and the 400 of us service all of them.

SSON: That does sound like a major expansion. So was this planned when you came in, or was it as a result of your own strategy formulated after your appointment?

NS: When I went in, you could just see the opportunity; I looked at ANZs strategy, where it was going with its five-year plan, and it was definitely based around having a very efficient and effective and high-quality infrastructure to support its planned expansion. ANZ had a captive center in Bangalore for nearly 18 years, and it was used for software development; my boss at the time – Mike Grime, managing director of Operations Technology and Shared Services (OTSS) understood we had a huge competitive advantage in India and we werent using it. So I looked at how we could use the captive for shared services and started to move the transactional elements of our service offering to Bangalore, with great success. We kept the roles that interacted with the client in the same country as the client a hub and spoke model. I also looked at overall cost, because obviously in all SSOs cost is an important factor, but we had quite a different way of approaching that I think. ANZs products are not the cheapest banking products on the market, but they are cost-effective, and so the question was, how could we match the cost-effective nature of shared services to meet that sort of customer delivery.

When I talk about customers I mean the customers of the bank; my clients are my internal customers, if you like. Sometimes when you use the term customer for your internal clients, you create a kind of master-servant relationship within the organization. That doesnt actually do any good, because in the end what were trying to do is all oriented around the end customers, which for us are the retail banking and institutional customers.

My strategy involved using the Heskett model of the service-profit chain, to help my own staff understand why they were all in a shared service: basically if you can deliver an excellent level of internal service, that will enable the front-line staff to deliver a similar level to customers. Indeed Hesketts model shows how front-line staff can ONLY deliver the level of service they receive on the inside of the organization. So that gave everybody a bit of vision as to how all the pieces fit together given everything we were responsible for was about the internal operations of the Bank. It also helped our clients understand what else we could do for them and what would or would not be effective. It was also important that we did not become the dumping ground for things the rest of the Bank did not want, so if a process/service was customer-facing or revenue-generating it did not belong in Shared Services. Then when we started to demonstrate this strategy/model to our clients, and to articulate our value proposition, thats when we started to grow and we started to take on more work for them, which was wonderful.

SSON: Does the SSO have any clients beyond ANZ or is it still all internal shared services?

NS: It is still all internal shared services.

SSON: Was there the plan eventually to sell services to other organizations?

NS: Its a really interesting question. Sourcing and partnerships are one of the strengths of what we developed, but a lot of shared services entities start to fail when they start to take on third-party work, because theyre going against the reason they were set up in the first place. What in my experience you need to do is draw a line in the sand – and then if you decide that now its about revenue generation, ANZ then becomes a client. There are many documented cases where this had been attempted and has been a failure as the shared service starts to believe it exists for its own revenue-generation – and the business we are in is banking. If this step is to be taken the most successful ventures I have seen are when the shared services is sold or JVd.

Part of the vision that we had for shared services was that we would enable the Banks growth whether organic growth or through acquisition. Shared services traditionally get involved after the acquisition has been decided, whereas what we believe is that because of the responsibility placed in our shared services organization we had financial stewardship of A$4bn we would become part of the decision-making process about what we would acquire because we would be able to demonstrate that we would enable the benefit delivery of the M&A by getting things up and running and integrated more quickly. So, my strategy was to ensure that shared services would move from a purely cost-focused, internal transaction operation to something that was a crucial part of the growth and development of the Bank through operational excellence and energetic and agile service delivery.

SSON: Before we move on to talking about your role as thought-leader for which youve been recognised, can you tell us a little more about the environmental sustainability department you mentioned?

NS: Absolutely. Its quite unusual within shared services. Part of ANZs strategy under the previous CEO was ensuring the bank became more environmentally sustainable; there was quite a big community and employee engagement plan, but the environmental sustainability area, our understanding of our consumption, was still in its infancy. We started with the basics: we designed and implemented an environmental management system, around creating baselines and understanding performance. If you look at the other pieces of shared services especially the procure-to-pay process and the responsibility for the supply chain, the processes and methodologies we used, we could control the type of things the Bank consumed.

Our next step was to further understand how we could become carbon-neutral. We started working on a strategy and education program, internally for bank employees and all the way through our supply chain. We started to only select environmentally sustainable products for the catalogue; we worked with current suppliers so they could get to a benchmark with us; and we stopped doing business with people new work if they didnt understand their own footprint. We taught our suppliers things and they taught us things.

And I was actually voted onto the United Nations Environment Program Finance Steering Committee, and went to Geneva representing ANZ. I was voted onto the committee by 80 of the banks globally who are members of the UNEP-FI. And our crowning glory was that in the Dow Jones Sustainability Index we, ANZ, became the number-one sustainable bank for 2007/08 – pipping WestPac at the post which wasnt the aim! But it was a wonderful outcome, and its now embedded in the way that the bank does business. We can now monitor everyones buying behaviour on an ongoing basis. It was quite a wonderful achievement: a lot of hard work – and a lot of scepticism – but one of the great examples of shared services being able to demonstrate that its value is much more than transactional or purely operational functions.

SSON: Thats a very impressive achievement. Congratulations.

NS: Thank you. Were very proud of it.

SSON: You deserve to be. Lets move on to your award. Why do you think you were honoured as Shared Services Thought Leader of the Year?

NS: Two things I think. Firstly the leadership program I put I place and secondly the strategy, business plan and implementation methodology I designed and used to ensure the ongoing effectiveness of shared services in ANZ.

The leadership program that I put in place was a three-year rolling program for all of the leaders in shared services – so not only the leaders in line management, but my direct reports and their direct reports functionally. And then we added people who hadnt worked in a bank, because they bring in all this other experience. Shared services is full of young people, so we picked out all the older people with experience in life, and knowledge, so the whole leadership forum could get that sort of balance.

We used a Human Synergistics tool called Life Style Inventory which is very well-known in this part of the world, and it talks about moving from passive-aggressive or defensive-aggressive styles to constructive styles, and their tools show that the constructive styles lead to increased share price and profitability. We ran that over the first year of the program, putting 38 people through this: we launched it for the whole 400 in Melbourne and Bangalore because when people see shift in their leaders they get concerned, they dont know whats going on – so we simply articulated what was going on. I employed a leadership coach and for six months the 38 each met with me every eight to twelve weeks and with the coach every four weeks, working through the program – so they sort of practised for six months and then went up to implement for the next six months.

Then Year 2 of the program was positive psychology: this is a way of thinking and discussing whats good in life, and doing more of it, rather than as most organizations operate – on deficit, grading performances on what you havent done or what youve done wrong. This research is quite phenomenal. Its run as a course at Harvard, and its the most attended course. [Martin] Seligman did a lot in relation to happiness, and what hes actually shown is that its not about being happy but being happier, and the effects on the physiology of the brain and what that does for individuals and therefore the organization. By rolling this program through, we got the biggest shift to constructive profile that Human Synergistics have ever seen in their history and theyre actually doing a profile on us, thats out in the next couple of months.

The Heskett service-profit chain model worked really well for us; Im not sure if it has to be that one in particular, but it has to be something that will bind all the people who work in shared services together. And then we had a robust business-planning methodology which we developed that other parts of the bank started to use, using end-to-end process management approach, and Lean and Six Sigma, Balanced Scorecard and a lot of those basic tools that deliver an effective process but then free up the individuals in the process to think and be innovative for our clients. We automated end-to-end so we could use our ideas and our people to deliver a better service. You know, if our clients have a clunky process that takes their time away from managing existing and new clients the consequences are quite well documented.

The combination of these two elements ensured that we were moving up the value chain and would continue to do so.

SSON: You mentioned targets there; what were your personal targets? Did you set yourself specific benchmarks you wanted to surpass?

NS: I had a three-year plan for shared services. My targets were around employee engagement; financials; risk; process effectiveness and client/service delivery. This was all wrapped up into an overall measure of how many new products or services were we asked to take on for the Bank. Did my colleagues want to do business with my organization? This combination of qualitative and quantitative data was fundamental for our success and progress towards the achievement of our strategy and of course to help us stop doing work that was no longer valued by our clients.

SSON: What were the biggest obstacles you encountered?

NS: Its really interesting question and I feel the longer I think about it the more I come up with, but there are a few key ones. The first one is understanding that most business units want to control their own stuff – not wanting to give anything up. If you think about why that is, in most organizations roles are scoped and scaled and paid relative to the actual size of the job headcount is important in this equation – so by taking peoples staff were actually decreasing their own roles within the organization. So we began taking in pieces of work, saying just give that to us, well put it through our process and then well give it back to you, and you can just run it and they thought this was just wonderful. Eight times out of ten they never took it back, because they were still getting the credit or the kudos or whatever were all human beings for the outcome of the process running really effectively or the engagement running really well. And I think thats something that people all over the world running any form of shared service continue to challenge. We in shared services need to keep our focus on the benefits to the whole organization, not the benefits for our own SSO.

Another challenge is that when you take on other work all of a sudden the expectations change. So somebody thatd been running their own process and had a quality score and a time rating and error rating and complaints rating, when we came into the equation the expectation changed massively and our clients want a much higher quality rating for example. So thats where we introduced client councils, so we could say this is what were taking over and thats what it looks like now. This started as a plan over 12 months but we were able to make traction much more quickly, achieving targets over six to eight months. This approach only works with a lot of face-to-face interaction.

Another major change maybe not an obstacle but the transformational change through the leadership from being a reactive organization to being proactive, so not only doing what was asked, when the answer was always yes irrespective of what was possible or not, but actually coming up with thoughts and ideas for our clients because we understood their business just as well as they do.

SSON: Lets look at the future now. What are your plans? Youve moved on from ANZ

NS: Well I moved from Sydney down to Melbourne to take the role, and had a three-year timeframe in my mind. And thats what I did. I think Im where a lot of people get at a certain time in their lives I got very involved in the environment and community agendas, and Ive decided that I want to work in more community-focused organizations. What I believe is that the things that I do around consolidating internal activities and organization, reducing costs while keeping service levels high, and enabling access to products and services – I want to do within a more community-oriented organization, rather than in an organization where any monies I was involved in saving or producing go back to the shareholder only.

Ive got to this stage in my career that I want to do something with a bit more purpose to get me up in the morning! Ive had a ball, ANZ was wonderful, and I want to do something that takes that commercial acumen that we develop in corporates into working for an organization thats more community-oriented. Its a pretty huge step for me. Ive given myself six months, by the way, to see if they want me and if not Ill get back into corporate and will still really enjoy it! But Im really very excited by trying to make the change.

SSON: Please do let us know how you get on!

NS: I certainly will. You can do so much within an organization, its really amazing. You can really positively impact on a lot of other people in their daily lives whether inside or outside the organization. But well see how I do!

SSON: So lets wrap up. What advice could you give to an individual or a team embarking on shared services?

NS: If youre going to establish shared services you need to understand two concepts. The first one is: why, and who are the sponsors? What does an organization think it can get from shared services? And understanding if there have been any attempts in the past and what were the outcomes of those attempts. So thats a really important piece.

The second piece is a bit about understanding the organizations culture and life-cycle. So in a command-and-control, why would you attempt a shared service model?

The glue that keeps it all together is knowing what leadership model youre going to bring into the SSO. Your classic line manager is one thing, but you need influencing skills and negotiation skills at all levels. Shared services clients are always there, whereas in any other organisation I think the average interaction with your customers in financial services is around four times a year; so this understanding of the clients access is really crucial, and you need the best leadership for that. Finally, if you only focus on getting all of your transactions and processes and data perfect before you move up the value chain, youll never get there.

Why Punjab And Sind Bank, Rbi And Upsc Recruitment 2013 Is Expected To Charter Progressive Careers

Depending on this foresight or at least the thought of it, people try to select the particular organisations in which they will apply when the vacancies are submitted for public applications. Jobs in RBI or Reserve Bank of India are helpful for the recruits as are the jobs in Punjab and Sind Bank.

Getting recruitment through IBPS in Punjab and Sind Bank in officer rank

Since banking jobs are sought by people in India in general, people from different backgrounds have gone for these vacancies. In the Punjab and Sind Bank recruitment 2013, there will be a lot of posts which would be coming out in the subsequent months. This is one of the participating nationalised banks in the IBPS or Institute of Banking Personnel Selection process. With the clerical level exam for IBPS already over in December 2012, the results will soon be declared. Then, candidates can apply for this particular bank, when the vacancies are published. One can enter into the posts of clerks or probationary officers or specialist officers.

RBI as the highest banking institution and hence a privileged posting

RBI is the highest banking institution in the country, responsible for regulation of the banking rules and financial situation of the entire country. The enormity of the function is only possible to be known if one clears the RBI recruitment 2013, which is going to be conducted in the recent months. Working in capacities of clerks or officers in RBI in itself is a great achievement. Further, it can be a learning experience in managerial and executive levels. It is a privilege working with the top minds in financial world while in RBI. RBI recruitment 2013 will be therefore in the top of the list of preferences among the banking job aspirants of India.

Pay scale is quite good in banking sector In these banks such as Punjab and Sind Bank there is a good pay scale, which comes along with a variety of perks and allowances. In the officer levels, these are among the best paid executives in the country. RBI officers are also highly paid and have variety of perks. It can be easily said that the pay scales in these banks are among some of the best organisations in the country.

Gazetted, officer positions through UPSC

UPSC recruitment 2013 is supposedly among the best ways to find a prosperous and progressive career in India. Union Public Service Commission or UPSC is the body constituted in the country, to look after the recruitment process of Group A and B category, gazetted officers in the country, in different departments. For the purpose, it conducts written exams and interviews for various organisations. There are exams like Special Class Railway Apprentices for engineering graduates, CDS and NDA for army recruitments at 12th and graduation levels respectively, IES, ISS, civil services, etc for selecting candidates to work in the highest administrative and managerial positions in various organisations. This suggests that UPSC recruitment 2013 will be, a dream come true for many candidates, much because of the high level of designations that they will receive after clearing the exam.

These organisations of RBI and Punjab and Sind Bank have the potential to bring up the best in the careers of the recruits due to their variety of posts, pay scales and managerial positions. UPSC recruitment has intake of thousands of posts in various gazetted officer positions, which are the dreams of millions of students in the country.

Things To Know Before Getting Loan Against Securities In India

There are many types of loan available for your need. You can opt for loan against property, securities, shares, etc. in India. But you need to judge these loans and go through papers and agreement before opting one. But before opting for any type of loan, you need to compare the options and choose the best one that suits you.

Many times, people opt for personal loans from banks and financial institutes but remain unaware of other types of loans. One of these is loan against securities, shares, mutual funds and other financial instruments. In India, many banks, PSUs and other institutions offer these loans in the market. The rate of interest many vary from 12% to 15% depending on the lender.

The method to find out the best loan option is to find the reason and purpose for the loan, cost and time period of the loan amount and lastly mode of loan. Many experts feel that loan against securities and shares have its own advantages and disadvantages.

The interest on loan against security is charged only on utilization of limits sanctioned and only for the number of days it is utilized. This can be used for various reasons like buying a property, personal expenses, marriage, studies and other requirements. One of the cautions that people taking these loans should take not to invest it back to the market. This can be risky factor.

As per guidelines of Reserve Bank of India, a borrower can’t be given more than Rs. 20 lakhs against shares and equity mutual funds depending on value of security used for loan. Also, drawing power of a loan amount depend upon liquidity. For example, debt securities can grant you 80% drawing power.

One of the drawbacks that loan against securities has is market crash. Before borrowing the loan, you should be able to fund the loan account or you should have additional securities. Hence it is advised to borrow a loan amount depending on the ability to repay.

After borrowing the loan, if you want to revise the portfolio and upgrade it, the lender can grant your request depending on terms and conditions of the bank or lending institute.

Before borrowing the loan, you should know the financial instrument that you are using for loan. Banks and lending institutes has list of approved securities against which they offer loan. This may get revised regularly depending on lender and policy and rules in India. In general, almost all lenders offer loan against equity shares, mutual fund units (equity, debt, FMPs), government relief bonds, policies issued by LIC etc. You should check the list before you opt for this option.

If you are looking for short term loan, then loan against securities and shares is viable option provided that you check the amount utilized.

Wainganga Krishna Gramin Bank – Housing Loan Scheme

Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wa…

Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wainganga Kshetriya Gramin Bank, Chandrapur, Solapur Gramin Bank, Solapur and Ratnagiri-Sindhudurg Gramin Bank, Ratnagiri.

The authorized capital of the Bank is Rs. 500.00 lakhs and the paid up capital is Rs. 400.00 lakhs. Government of India, Government of Maharashtra and Bank of India has contributed 50 %, 15%, and 35% of the share capital respectively

Purpose: This loan finances acquiring a house.

Quantum of Loan: Up to a maximum amount of Rs. 20 Lakhs is granted as loan Under Priority Sector & above Rs. 20 lakhs NPS maximum Rs. 50 lakhs.

Eligibility: This loan scheme is restricted to allotted 12 Districts of Maharashtra.

Margin: Up to Rs. 10 lakhs there is a margin of 15 % and above Rs 10 lakhs the margin is 20%.

Rate of Interest: Interest rates differ on the basis of amount of loan & repayment period. The maximum rates for the repayment period of 15 to 20 years are as below. Up to Rs. 05.00 lakhs -10%,

Rs. 5.00 to 20.00 lakhs – 10.50%,

Over & above Rs. 20.00 – 11.50%

Exploring Top 10 Business Sectors In India

The Indian economy is one of the fastest growing economies in the world and this is evident from the increase in b2b business space India shares with the world. Apart from the big business houses, the real contributors towards the economic growth are the small and middle sized enterprises belonging to different industries.

To learn about different business sectors of India, there is no better place than a b2b
business directory, where these businesses open their doors for the world. Considering the popularity and growth rate of businesses, here is a list of the top 10 business sectors of India.

Foods and Beverages
The foods and beverage industry of India has gained popularity in the past 3-4 years, mainly due to the changing lifestyle and eating habits of the people. Most of the segments have recorded an increase in revenue from 2005 to 2009, the alcohol segment being on the top. A growth rate of 7.5 percent is expected between 2009 and 2013 to make it a 330 billion dollar industry by 2013.

IT Industry
The information technology business sector of India is expected to increase by 14.1 percent from 2009 to 2010. The expert analysis predicts the industry to become 67 billion dollar industry in 2010 and to increase by 11 percent by the year 2013. IT services, software as well as hardware segments are making great contributions towards the growth rate of IT industry as a b2b business.

Health Industry
Due to a huge different in the healthcare costs in India and the western countries, the health industry of the country is experiencing a growth in terms of business. The analysis shows that the current 35 billion dollar industry is going to touch the figure of 75 billion dollars in 2012 and 150 billion dollar by the year 2017.

Telecom Industry
The growth of telecommunication business sector in India can be easily termed as a revolution. The country enjoys the second rank as the telecom network provider. The rise of 3G services and mobile telephony has also contributed significantly towards the growth rate in the sector. The mobile subscribers in the country are expected to grow by 11 percent from 2010 to 2014.

Textile Industry
Textile industry of India is a globally reputed b2b business sector. The total textile exports from India contribute towards 27 percent of the total foreign exchange. Cotton, silk, jute, woolen, hand-crafted and readymade textiles are the main segments one can find in a global Indian b2b business directory.

Auto Industry
The Indian auto component industry has been growing with a consistent growth rate of about 20 percent since 2000 and the rate is expected to remain consistent till 2015. Engine parts, drive transmission ad steering parts, suspension and braking parts and electrical parts are main contributors towards the growth of this global b2b business sector.

Construction Industry
Accounting towards 11 percent of Indias total GDP, the construction industry is an exporter of various raw materials to the world. For example, China is the biggest consumer of steel exported by India. Besides, the cement industry is a significant contributor in this category.

Handicrafts
Indian handicrafts enjoy a great demand in the foreign markets like those of USA, UK and Australia. Wooden handicrafts, jewelry, hand printed textiles and crocheted goods are some of the main segments that bring foreign exchange of the worth of 3 billion dollar to the country.

Energy
Both renewable and non-renewable energy sources have contributed towards the growth rate of energy sector of India. Natural gas, LPG and solar energy are the segments that have been consistently growing.

Banking and Insurance
Investment banking, credit cards, mortgage and insurance products are the segments that contribute towards the growth of banking and insurance sector of India. For example, the number of debit cards increased by 40 percent from 2006 and 2009.

To find the companies showing growth in the above-mentioned business sectors, you can refer to a b2b business directory. Apart from them, there are many other industrial sectors growing in the domestic as well as global markets.

Avail Loan Against Property – Secured Form Of Loan

In all kind of cases you need money. If you are planning to take a loan then avoid taking unsecured loan as youll end up paying huge amount as interest. It is always better to go for secured loan and financial consultants also advise for this kind of loan. If you own a property then you can get Loan Against Property.

The loan against property in India is a type of loan which is secured by the bank by putting property as a security. Many a times the value of the money can be somewhere between forty to sixty percent. Hence, if you have a property with good return value then this is one of the best types of credit to fulfill your requirement.

If you want apply for loan against property, then do a little bit of research about Indian market and various money lenders in order to compare various loans to get the best one.

RupeeZone is financial organization offering different kind of loans to its customers. If you have a property and dont want to sell it then RupeeZone can help you to get Loan Against your Property India at best loan against property interest rates. Loan Against Property is available in 3 types:
Loan Against Property for Salaried Individuals
Loan Against Property for Self-Employed
Loan Against Rentals

Thus, you can avail any of the following loans based on your requirement.

If you are NRI and want to apply for loan then RupeeZone also offers best Loan Against Property for NRIs.

Flexibility is the key factor these days, so there is no such fear that repayment would become difficult. These days money lenders offer various flexible repayment options. And this is the reason why people are opting for these kinds of finances.

If you are opting for loans against property then there is ample of time for repayment and this would not put any burden on you. Due to the availability of these facility people are going for these loans and tenants and homeowners are making use of these loans. As a property owner, you can keep your property as security and easily get loan against it. This is also one of the risk-free options for the money lender.