State Bank of Indore increases lending rates
PSU bank, State Bank of Indore has hiked its lending rate by 50 basis points. 1 basis point means 0.01% points.
Category Archives: News
Debit cards beat credit cards
Increasing adaptation of Point of Sale (POS) terminals to debit cards has raised the use of these cards as against credit cards.
IBA says lending rates have to be hiked
The bankers association of India (IBA) has opined that lending rates have to be hiked sooner or later. Fall in increase of deposits can be attributed as a cause for the former.
Housing finance companies not to hike home loan rates
Interest rates may not go up for home loans provided by housing finance companies (HFCs), although in the present scenario the banks have hiked interest rates.
Car loan lender SBI increases deposit rates
The biggest car loan lender of the country, State Bank of India has hiked deposit rates on various maturities. The hike has been up to150 basis points.
Personal loan lender fixes a target of Rs 28000 crore biz
Personal loan lender, Dhanlaxmi Bank has fixed a target of obtaining total business worth Rs 28000 crore in this fiscal. The estimate is twice the present number of Rs 14,000 crore. Dhanlaxmi Bank is aiming for total deposits of Rs 13,000 crore and loan portfolio to Rs 9000 crore. The bank would mainly concentrate on… Read More »
Railways to accept bank credit cards as ID proof
The railway ministry has introduced a customer friendly step by electing to consider credit cards of customers having their laminated photos as their ID proof for traveling on e-tickets.
Banks worried about increasing defaults in education loans
The ratio of non performing assets (NPAs) in education loans is going up thus worrying banks a lot. Banks have asked for help from the government in the form of a credit guarantee fund as safety. They have asked for a fund of minimum of Rs 2500 crore.
Deutsche Bank plans to reach 30% increase in business
Foreign bank, Deutsche Bank has planned to reach 30% increase in its Indian operations. Till now, the bank was concentrating on deposits and mortgage lending as the main areas of focus. Now it plans to venture into small and medium enterprises (SME) and personal banking sectors.
SC avoids offering NPA recovery guidelines to banks
The top judicial organization of India, Supreme Court (SC) has prevented itself from offering any type of guidelines to public sector banks on recovery steps to be undertaken for non performing assets (NPAs) amounting to Rs 1 lakh crore from defaulters.