Bank of Rajasthan

BoR-ICICI merger mired in controversy

BoR-ICICI merger mired in controversy

The deed of Bank of Rajasthan was dramatic when it first cancelled a general meeting in Mumbai following a stay order by a court in Kolkata. After this incident the shareholders themselves decided that they need to convene and vote on the merger proposal with ICICI bank. The outcome is yet to be known. ICICI bank got the stay order vacated by the Kolkata high court just minutes after the voting.

ICICI Bank In Advance Stage of Talks

ICICI Bank In Advance Stage of Talks

It was seen that private sector banking giant ICICI Bank was in advanced stage of talks to take over Bank of Rajasthan. Last Month Bank of Rajasthan’s promoters ran into rigid trouble.

According to the industry sources, that announcement could be made any time, whereas no comments were heard from either ICICI Bank or Bank of Rajasthan. Because Pravin Tayal, the key promoter of the Bank of Rajasthan, could not be contacted, comments could not be obtained from him.

Bank of Rajasthan inks ‘Two-Wheeler-Finance Deal’ with Bajaj Auto

Bank of RajasthanBank of Rajasthan, one of the fastest growing, technology driven and customer friendly private sector bank, has entered into a tie-up with Bajaj Auto to offer two-wheeler loans.      

The alliance will enable customers to avail finance facility for vehicles at an attractive rate of interest.  In addition, the lender has also reduced the processing charges by 2% on vehicle loans in different maturity periods.  

Bank of Rajasthan inks ‘Financing Deal’ with Escorts

Private-sector lender Bank of Rajasthan has entered into a partnership with Escorts, a tractor and farm equipments manufacturer in India by signing memorandum of understanding (MOU), to help farmers in Rajasthan to obtain loan for tractors and farm equipments at a lower interest rate.

A joint statement said, the MoU will help farmers in Rajasthan to get benefit of tractor loan up to Rs. 10 lakh at the interest rate of 11.50 % per annum and for loan above Rs.
10 lakh the interest rate is 12% p. a.

Bank of Rajasthan slashes rates on home loans

Bank of Rajasthan, the oldest and fastest growing private sector lender, announced that it has trim down interest rates on home loan under `Apna Ghar Scheme` with effect from Dec. 22, 2008.

The sources close to bank said that the interest rates have been slashed on fresh home loans of up to Rs 3 million, at floating interest rates.  

According to bank officials, for maturity period of 5 years the new rate of interest would be 10 percent and for 10 years maturity the interest rate would be 10.25 percent.

Bank of Rajasthan hikes interest rates on fixed deposits

BankBank of Rajasthan of Rajasthan, private sector banking major, has increased its interest rates on fixed deposits across different tenure with effect from 01st October 2008.

The bank claims that the latest move will benefit its millions of customers across the country.

Bank of Rajasthan enters into a MoU with ICRA

Private sector lender Bank of Rajasthan (BoR) has entered into a memorandum of understanding (MoU) with the credit rating agency ICRA for the bank's corporate and public sector enterprises exposure.

Under the arrangement, ICRA will now assign ratings to the bank's corporate and public sector enterprises exposure under the standardized approach of the Reserve Bank of India's new capital adequacy framework (Basel-II).

Bank of Rajasthan hikes deposit rates with effect from August 25

Private sector lender Bank of Rajasthan has introduced a new slab of deposit of 1-2 years with an interest rate of 10.25 per cent per annum. The senior citizens would earn an interest of 10.60% for the same time period.

Apart from introducing new slab, the bank has also hiked interest rates on its fixed deposits across different tenures with effect from August 25.

Deposits having a tenor of 121 days to 179 days will now attract an interest rate of 8 per cent as against 7.50 per cent earlier.