Category Archives: News

Public sector company, Power Finance Corporation (PFC) is aiming to venture into banking sector after the discussion paper on new banking licenses was released by the Reserve Bank of India.

The 2nd biggest public sector bank in the country, Punjab National Bank has introduced an online remittance service for NRIs called as PNB NRI REMIT-India’. The service would allow sending money from US to India.

Car loan lender State Bank of Mysore, a subsidiary of State Bank of India has launched an excellent crop loan scheme for farmers. In this scheme, the farmers will have to pay an interest of just 2%. A senior official of the bank said this is the first instance of any bank charging such a… Read More »

The board of personal loan lender J&K Bank has asked for help from Reserve Bank of India about the selection of a committee to choose the new CEO for the bank. The bank requires a new CEO as the earlier CEO, Haseeb Drabu has resigned. The bank has proposed that till the next CEO is… Read More »

Mahindra & Mahindra would start an assembly line at its Chakan factory for producing Ssangyong sport utility vehicles, according to Pawan Goenka, president (automotive and farm equipment sector).

Recently numerous banks have hiked their interest rates on loans. However teaser rate home loans are still being offered by the banks. Numerous banks/financial institutions offer numerous products of interest to their borrowers.

The engineering and construction giant in India, Larsen & Toubro (L&T) is planning to venture into the banking sector by applying for a banking license. The company plans to do so via its associate, L&T Finance in order to access cheaper funds and boost its presence in the area of infrastructure financing.

The oldest personal loan lender in the country, HSBC has opted to slow down its retail and credit card divisions as it plans to concentrate more on global banking, investment banking, wealth management, insurance and mortgages.

The loan portfolio of banking industry has not done up after the Q1 results for this year were declared. The unpaid loans are still below the numbers for June end.

Home loan lender SBI plans to join hands with Western Union Services India Pvt Ltd in order to offer a new service. This was stated by a senior official of Western Union.