India’s biggest lender, State Bank of India has said it will declare its base rate by June 15 and the rate will be computed according to SBI’s cost of deposits. SBI Chairman O P Bhatt said, “For State Bank alone, we are looking at the cost of deposits and not the cost of funds (for… Read More »
HDFC Bank can double in size every 4 years, but is not intending to become the biggest among all, said Deepak Parekh, Chairman of the HDFC Ltd. He said, “Our bank is growing very well, we are satisfied with that. We are not planning to be State Bank of India, we are not looking to… Read More »
The government may ask for modifications in the prepayment rules to allow a home loan borrower to move to cheaper lenders if his bank increases interest rates shortly after disbursing the loan. The government wants banks to give a 2 month window to their new borrowers to move to some other bank without prepayment penalty… Read More »
Indian banks posted a fall in outstanding personal loans during the initial 3 weeks of May from the earlier month while investments increased, as per the data released by the Reserve Bank of India. Loan growth decreased by 0.2%, or Rs7,423 crore, to Rs3,23,000 crore as of May 21 from the April end, while investment… Read More »
Volkswagen has been using a top-down tactic in India. It launched in the Indian market high-end models like Jetta and Passat in sedans, the Touareg in the sports utility vehicle and, the iconic Beetle. The company is intending to grab 8-10% market share by 2015, and entered the mass market hatchback sector this year by… Read More »
With the base rate era setting in from 1st July 2010, the old home loan borrowers might receive a chance to negotiate for a lower interest rate as it is believed that various banks would be re fixing their lending rates once the base rate sets in.
The Reserve Bank of India (RBI) will continue on its path of the monetary policy tightening measures and interest rates will go up in the coming months, according to the statement made by deputy governor Subir Gokarn. This is likely to make personal loans more expensive.
The biggest lender of the country, State Bank of India has hiked interest rates on short term corporate loans by 25-50 basis points. O P Bhatt, Chairman of SBI said, “With surplus liquidity gradually disappearing from the system, we have re-priced certain segments of our short-term corporate loans by 0.25-0.50 bps upwards.”
Public sector banks, Canara Bank has intentions to venture into the northern part of India. The bank has a significant customer base of more than 37 million and has a strong presence in the southern part of India. It intends to start highest number of its intended 200 branches in the north this fiscal.
Leading car manufacturer Maruti Suzuki has posted a 27.9% increase in sales for May at 102,175 units as against 79,872 vehicles. This was made possible by cheap car loans