Banking Notes – Yahoo! India News

SBI-State Bank of Indore merger swap ratio

State Bank of India has received the central board’s approval for the proposed scheme of State Bank of Indore acquisition and the merger swap ratio has been set at 34 shares of State Bank of India for every 100 shares of State Bank of Indore held.

Punjab & Sind Bank cuts rates

Punjab & Sind Bank has cut its peak interest rate on fresh farm loans by 200 basis points to 11.5%. Farm equipment loans up to 50,000 rupees will attract an interest rate of 8.75% and 11.5% for loans above that.

PNB JV with FIM Bank of Malta

Punjab National Bank on Wednesday said it has entered into an agreement with FIM Bank of Malta and Italy-based Banca IFIC for setting up a factoring service. The bank has entered into the JV for providing factoring, forfeiting and trade finance related business, PNB informed the Bombay Stock Exchange. Factoring business is a type of financial service whereby a firm sells or transfers title to its accounts receivable to a factoring company, which then acts as principal, not as an agent.

Trade confidence in India high

Small and mid-market businesses in India that engage in export and import activities continue to be optimistic about their trade outlook over the next three months, according to the latest HSBC Trade Confidence Index. Indian businesses continue to be confident with an Index of 117 — an increase of two points over the seconnd quarter index of 115. To tackle the problem of buyer default, the strategies they intend to put in place include greater use of trade finance solutions provided by banks, export credit insurance and doing less business with certain buyers as well as accept smaller orders to reduce exposure,it said.

Karvy appoints Ramachandran

Karvy Private Wealth, the wealth management arm of the Karvy Group, has named K Ramachandran as head of products & investments. Earlier, Ramachandran had worked for Barclays Wealth India as head of investments & product office. Prior to Barclays, he had worked with BNP Paribas as head of its advisory desk, a company press release said. He has a rich experience of over 24-years in the fields of private banking, portfolio management services, treasury management, securities research, fund management and advisory services, the release said. “Ramachandran’s expertise and experience will help us offer better products and advice which our HNI and family office practice customers can benefit from,” Karvy Private Wealth’s chief executive oficer Hrishikesh Parandekar said.

ItzCash, Vayu Seva tie up

Cash card company ItzCash Ltd has tied up with Vayu Seva Tours and Travels to facilitate online booking of domestic air tickets. With this tieup, all Vayuseva customers can now book their tickets online even if they do not have any banking instruments like credit card or debt cards. “This tie will increase our presence in the digital space and the travel sector, which is a fast growing and where most consumers are looking at digital transactions,” ItzCash Card Ltd managing director Naveen Surya said.

fe Bureaus

So, now you have found yourself all but completely buried in debt. You might not actually realize how severe this can be in fact the only way to get out of debt now is to pay it off completely. However, there aren’t a lot of people who can literally do this without having to file bankruptcy. It can take several years to get out of credit after that. The main thing is to make some type of plans for debt relief and comparing them before actually picking one. What is important is getting the right advice from a company.

Instead of bankruptcy why not explore the option of debt consolidation, or perhaps debt settlement of some type. Some of these companies offer debt negotiation and this is where a professional fights on your behalf. You don’t even have to be there. And yet, to actually have the best in this professional field there is another thing you can do.

Look up debt settlement on the Internet. View all the web sites, which are a lot, and find one that suits you, or find a debt relief network. This network makes sure that all of the companies that it is affiliated with is legitimate and not frauds.

You shouldn’t have to go month after month worrying about debt or other circumstances associated with debt like how bills are going to get paid. Doing comparisons helps a great deal. Which one is higher in monthly payments, which one will help you get your credit score back up, these are all things to consider.

If you are over $10,000 in unsecured debt you should at least consider getting a debt settlement. Creditors are scared about collecting on their unsecured debt and you as the consumer can benefit. Check out the following link to find the top performing debt settlement companies.

Free Debt Advice.

Technorati Tags: credit debt management

credit debt management