Tuesday, March 3, 2009

Top News

•          SBI is offering Home Loan at 8% for the first year of loan and then normal rates (8.5 to 9.25%) for remaining years of loan – SBI Happy Home offer.

•          Citigroup, one of the largest banks in the world, with assets worth $1.95 trillion now values less than the State Bank of India (SBI), India's largest Bank.

•          Britain will implement new immigration restrictions so existing vacancies can first be offered to local workers.

•          NRI investments in India-based properties dropped by over 50% this season - Jones Lang LaSalle Meghraj (JLLM), a global real-estate consultancy firm.

•          Canada will admit more foreign students and fewer foreign workers this year.

•          95 percent of Gulf NRIs do not save money and return to India empty handed -one survey by the Pravasi Bandhu Welfare Trust Dubai

•          US will restrict firms receiving government bailouts from hiring foreign workers including Indians, if they are replacing American workers.

•          A PAN centre was inaugurated in Oman that will enable NRIs in Gulf to procure a Permanent Account Number as well as tax-related services.

•          Many banks in Switzerland may be forced to reveal their traditional secret accounts.

•          The number of failed American banks is climbing, with eight banks going belly up in February alone, pushing the total bank failures in this year (2009) to 14.

•          Kerala Government announces package for NRKs who lost jobs - loans at lower interest rates and Rs 100-crore for starting business ventures.

•          Dubai Smartcity Company has informed that their Kochi project is on track.

•          The Kerala government plans to invest Rs.10000 crore in the IT sector in the near future. Kerala to have 10 IT parks by 2011

•          Shri O.P. Bhatt, Chairman, State Bank of India, has been conferred the “Best Executive 2008” award by financial magazine Asiamoney.

•          SBI launches biometric ATM machines & Mobile Banking in domestic mobile phones. Mobile banking offers money transfer, bill payments etc.

•          Kerala will face a severe drought this summer due to drop in rainfall.

•          SBI now has 4 branches and 7 ATMs in Singapore and they offer full retail banking facilities to customers.

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