SBI extends Rs 2317 crore for 43 solar power projects

The seven companies include Adani Group, JSW Energy, Hinduja Renewables, Tata Renewables Energy, Azure Power. Cleantech Solar and Hero Solar Energy. The bank has outstanding loan of Rs 12000 crore to solar energy projects and bad loans are negligible in this sector. Aggregate capacity of 475 mw by availing a line of credit from World Bank. Rajnish kumar chairman.

Sebi bans Swarnabhumi Agritech India, directors from markets.

New Delhi, Nov 17 (PTI) Regulator Sebi has banned Swarnabhumi Agritech India Ltd and its four directors from the securities market for at least four years and has directed...

By 2020, Yes bank will be the top three credit card with 15-18 %...

“ By fiscal year 2020, we will be the top three credit card players of the country with 15-18 % market share,” said Pralay Mondal, senior group president of retail and business banking of Yes bank. Yes Bank will be offering interest rate of minimum 1.2% per month on its credit cards for which high networth customers are eligible. The industry average stands at 3.4% per month. As on March 2016, there are 24.50 million credit cards in the country with HDFC Bank Ltd. leading the chart at 7.28 million, followed by ICICI Bank Ltd at 3.65 million and SBI Bank Ltd at 3.62 million. Mondal said that “market share is skewed which provides opportunity for us. The current credit penetration is 2% in the country which is expected to be 5% in next five years. The incremental 3% growth provides huge opportunity for new players like us.