Presently the demand for electric car in India is still quite small. As per industry estimates, less than 5% cent of the passenger car market in India would make up electric cars for the next 5-7 years , at 1,75,000. Maruti Suzuki, India’s biggest passenger car producer, had displayed the SX4 hybrid and an electric… Read More »
The State Bank of Hyderabad, a subsidiary of SBI, will hire 2,000 clerical and 600 supervisory staff in the current fiscal. Of these around 300 will be sent in rural branches to build the bank’s agricultural loan portfolio. Renu Challu MD said, “This is in addition to the 600 supervisory officers, who were interviewed last… Read More »
The merger of State Bank of India, the biggest lender of India with its subsidiary bank, State Bank of Indore has ultimately been authorized by RBI. The apex bank is believed to have given its approval to the merger proposal. SBI had previously said that it wanted to proceed with the merger during the 1st… Read More »
Ashok Leyland and Nissan, who have tied up for producing light commercial vehicles, are intending to launch their first product by mid-2011. Both the partners have said they will manufacture 150,000 vehicles during their phase I plans from their current facilities and said, the greenfield facility is ‘very much’ on the agenda.
Housing Development Finance Corporation (HDFC) has re-introduced a scheme of offering loan against property. Loan against mortgage of Property is regarded as a riskier business as against home loans, and so, attracts a far higher rate of interest as against home loans. To lower the risk in these loans, HDFC has said it will offer… Read More »
India will continue withdrawing economic stimulus introduced during the financial crisis and carry on increasing interest rates on personal loans despite uncertainty associated with euro zone’s debt problems, finance minister said. Pranab Mukherjee said that a worsening debt crisis in Europe could affect India’s and other emerging economies’ exports and growth, but this risk was… Read More »
US auto maker General Motors said it would either introduce or display an electric car in the Indian market next year, but refuted vying with the Tata Nano on price aspect. The President and MD of GM India, Karl Slym, said “I would like to say that you will start to see opportunities for sale… Read More »
Japanese car maker Toyota is looking into the likelihood of establishing a research and development facility and engine plant in India, the head of its joint venture said. MD of Toyota Kirloskar Motor Hiroshi Nakagawa said Toyota presently conducts R&D in Japan and Thailand, among other places. He said one of the alternatives being looked… Read More »
Bank deposits rates in India are anticipated to increase, providing relief to citizens reeling under inflation and low returns on their savings, according to the research wing of global rating agency Moody’s. “Indian bank depositors will soon see interest returns rise for the first time since late 2008,” Moody’s Analytics said. It said further, “The… Read More »
With the number of banks going for a hike in withdrawal limits of their debit cards increasing, the cost of refilling the ATM machines with adequate cash has also increased. Recently, HDFC Bank had hiked the withdrawal limits of its debit cards. Loney Antony, MD of payment services company Prizm Payments, says, “On transactions at… Read More »