Happy Dussera for UWB customers

It was a Happy Dussera for United Western Bank customers as RBI approved the merger of UWB with IDBI Bank and lifted the moratorium wef 03.10.2006. The shareholders will also be happy because they get Rs.28 per share they own. But this merger raises many questions: 1. What is the rationale for setting price of Rs.28 per share, we have seen some merger cases where the shareholders were totally ignored, so what makes UWB special case where RBI fixed share price above privailing market price. 2. When many of better banks were eyeing for the merger what made RBI to select IDBI bank the suitable candidate? 3. When nationalised banks are serving better for the betterment of the country than the private banks and there were many nationalised banks also in the race, why RBI sold UWB to profit motived IDBI Bank?

Corporation Bank's home loan utsav

Corporation Bank will conduct "Home Loan Utsav" from October 3 to November 2. As part of this, the bank has slashed interest rate on home loans by 0.5% for tenure above 5 years upto and including 25 years. The offer is applicable for floating and fixed rate loans and available at all branches of the bank.

C.I.B.I.L

Credit Information Bureau of India Limited this compiles the database of all borrowers of all banks in the country. The banks can use this information while sactioning new loan by serching the Cibil database online for the credit history of the borrower.