6 Best Military Banks and Credit Unions of 2021

Studying abroad can be a great boost to one’s career. Global education gives life-changing experiences and exposure to students. With over 3,00,000 Indian students studying overseas, India is the second-largest source of international students after China. But the astronomical costs act as a hindrance for most. Finances should not put a damper on things when speaking of exploring opportunities. Here we share with you top international scholarships for Indian students. Here is a list of top international scholarships for Indian students one can apply for –  University of Waikato International…

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SBI Recruitment 2019: Deadline Alert For Bank’s Big Vacancy Announcement

The State Bank of India (SBI) had released a recruitment notification inviting applications from eligible candidates for the position of probationary officers (PO). Interested and eligible candidates must apply for the positions today, April 22, 2019, as it is the last date to apply. As per the official notification issued on the official website of SBI careers- www.sbi.co.in/careers, there are a total of 2000 vacancies which include 300 for SC, 150 for ST, 540 for OBC, 200 for EWS and 810 for general category candidates. SBI Recruitment 2019 vacancy Detail SC:…

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Rising NPAs in education loan add to banks stress

Education loans too have started bleeding the banking sector with the default in repayment rising to 7.67 per cent of the outstanding amount at March- end, 2017 from 5.7 per cent two years ago. As per the data compiled by the Indian Banks Association (IBA), the total outstanding education loan at end of the fiscal 2016-17 was Rs 67,678.5 crore, of which Rs 5,191.72 crore was NPA. The government is already struggling to deal with the problem of mounting NPA in the public sector banks and has drawn a mega…

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Rising NPAs in education loan add to banks stress

Education loans too have started bleeding the banking sector with the default in repayment rising to 7.67 per cent of the outstanding amount at March- end, 2017 from 5.7 per cent two years ago. As per the data compiled by the Indian Banks Association (IBA), the total outstanding education loan at end of the fiscal 2016-17 was Rs 67,678.5 crore, of which Rs 5,191.72 crore was NPA. The government is already struggling to deal with the problem of mounting NPA in the public sector banks and has drawn a mega…

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3 months for banks to claim subsidies for education loans

CHENNAI: Banks across India can now submit claims for the education loan interest subsidy for eligible accounts for the financial year 2016-17 from August 23 to November 23. Canara Bank is the nodal bank and they will be opening the portal. All the students who have availed education loanfrom the Banks under Indian Banks’ Association (IBA) Scheme to pursue professional / technical courses in India are eligible to avail the full interest subsidy, if the annual parental income is less than 4.50 lakhs. Many banks have failed to claim the interest subsidy from MHRD thereby…

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Cells in banks to address education loan grievances

In response to suggestions from students and parents, Union Minister of State for Finance and Corporate Affairs Arjun Ram Meghwal has agreed to set up grievance redress mechanism at nationalised banks to address issues relating to education loan. Mr. Meghwal, who interacted with representatives from nearly 40 banks and aggrieved parents and students, said on an experimental basis, the government would set up grievance redress cells at corporate headquarters and would nominate a nodal officer that people could approach for help for education loans. Some of the debtors and non-governmental…

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Italian banks’ shares tumble after vote

Shares in Italian banks have been hit following Prime Minister Matteo Renzi’s heavy defeat in Sunday’s referendum. There are fears that a period of political uncertainty will hamper efforts by Italian banks to raise fresh finance. Shares in Monte dei Paschi, one of Italy’s most troubled banks, fell 4% on fears that its rescue plan might fail. Banca Popolare di Milano ended almost 8% lower and Banco Popolare Societa Cooperativa finished 7% lower. Many Italian banks are struggling with a burden of bad debt and are in need of refinancing.…

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BANKS’ RETAIL LOAN BUSINESS SUFFERS COLLATERAL DAMAGE

With a majority of staffers involved in handling cash deposits and withdrawals, disbursement of home, automobile and education loans have been reduced to a trickle after demonetisation. The government’s demonetisation move has put the brakes on banks’ revenue-generating retail business. Over the last fortnight, work on home, automobile and educational loans has come to a grinding halt, as a majority of staffers are engaged in handling exchange of notes and currency deposits and withdrawals. “Banks are receiving a large number of deposits, but they are not able to deploy these…

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