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More banks seem to be using the funds it is borrowing from its fellow banks than deposit money, which indicates that less personal loan are being distributed by banks and financial institutions.

Public sector lenders State Bank of India (SBI) and Indian Bank on Wednesday said that it has upped interest rates on its NRE Rupee term deposits with effect from today.

There is no doubt that while using a credit card you need to be extra careful. If stolen or misplaced, people can use the card to make purchases in person on online.

SBI Card has announced new way to earn up to 1500 rewards points on your SBI Card. In which you can earn reward points on your card just by doing some simple things mentioned by them.

While the Telecom Regulatory Authority of India (TRAI) has devised this method to prevent intrusive marketing tactics, it is not known what steps it intends to take to stop unsolicited marketing SMSs.

Infra major L&T, which is in the process of raising debt for its recently bagged Rs 12,132 crore metro rail project in the city, anticipates major chunk of the debt from State Bank of India , a top Larsen and Toubro official said today.

SBI said that was not true in the Indian context. The SBI home loan scheme charges eight per cent interest for the first year, nine per cent for the second and third year. From the fourth year, the loan rate gets linked to the bank’s base rate.

In order to encourage demand for home loan from customers, banks started offering what we call ‘teaser rates.’ These rates are typically introduced at a lower interest rate in the initial year and later increased.

Mostly, attractive schemes like reward points are offered on a credit card. But, over time the Indian customer is getting used to spending through debit cards.

The Centre on Friday said it had not directed banks and financial institutions to cut down on their exposure to the housing sector while emphasising on the need for stronger regulatory mechanism to avert recurrence of the housing finance scam.