May 07, 2011
The central bank raised short-term lending (repo and reverse repo to 7.25% and 6.25% respectively). RBI has asked banks to set aside more money for bad loans, increasing provisions by up to 10%.
May 06, 2011
HDFC has decided to try a new route to increase its distribution of home loans. The bank is allying with other banks to sell home loans for it.
May 06, 2011
New private banks are contemplating forays into the secured retail loan market through distribution tie-ups, instead of launching their own products.
May 05, 2011
For Ravindra Bahandare, the source of cash to fund his textile trading firm was not a bank, but a 14-gram gold chain he pawned for Rs 20,000 ($451) at one of the thousands of gold loan offices mushrooming across India.
May 05, 2011
After the Reserve Bank of India (RBI) raised key policy rates by 50 basis points (bps), lenders have started raising their base rates (the benchmark rates for all loans).
May 05, 2011
Standard Chartered today said it recorded a double-digit growth in its income in the first three months of the year. The rise was driven by growth in the wholesale and consumer banking businesses.
May 04, 2011
Home, car and corporate loan rates are likely to rise soon by up to 0.50% in tune with the hike in key policy rates by the Reserve Bank, leading banks including SBI and ICICI Bank.
May 04, 2011
The Central Board of Direct Taxes (CBDT) has given a breather to individual tax payers from declaring high-value transactions with banks, mutual funds, credit cards, etc via the income tax return forms.
May 04, 2011
Buying a new home will become more expensive with banks set to hike lending rates by a quarter to half a percentage point after the Reserve Bank of India (RBI) raised key policy and savings rates.
May 03, 2011
Bank deduct few charges on various accounts which with little caution and use of technology can be escaped. This article will discuss the charges that can be avoided. A forgotten automated teller machine (ATM), personal identification number (PIN)