Banking giant, Citigroup is ready to play its part in the growth of Indian banking sector by continuing its concentration on microfinance and priority segments of the country such as financial inclusion and education sector, according to the bank’s CEO.
Allahabad Bank has announced a discount of upto 1% on loans as a festive bonanza. This step was taken by the bank in order to entice more customers.
The 2nd biggest private sector bank in the country, HDFC Bank has increased interest rates on car loans by around 25 – 10 basis points.
Personal loan lenders, Punjab National Bank and Union Bank have increased deposit rates by upto1% point on numerous maturities.
Indian hatchback market is on a high. It is rising at 35% per annum. It is dominated by Maruti Suzuki’s Swift, Hyundai i20, Volkswagen’s Polo, Skoda fabia and Ford Figo.
It may be awhile before home loan lender SBI finishes merging with all its subsidiary banks. The government is asking for a clear picture of the expense likely to be sustained for the rest of the mergers and others factors from SBI before taking a decision on the topic.
Car loan lender, Kotak Mahindra Bank has started a branch in Kozhikode, thus taking a step to increase its presence in Kerala.
The credit disbursal for banks has come to a slow down, according to O P Bhatt, Chairman, SBI. He also said the present growth rate of 19 – 20% is not adequate for increasing interest rates.
Personal loan lender, Kotak Mahindra Bank has launched a new credit card, called as the Kotak NRI Credit Card.
Home loan lender, HDFC Bank has expressed its aims of starting another 150 to 200 branches throughout the country by the end of this fiscal, according to a senior bank official.