Mitsubishi likely to launch Thai eco-car in India
Mitsubishi Motors, is looking to penetrate into1.2 million a year Indian small car market and is thinking of introducing a compact family hatchback over the next 3-4 years.
Category Archives: News
Indian bank targets youth via fully automated branches
Public sector bank, Indian Bank has set youth as its new target customer. The bank has prepared a plan to entice the youth via totally automated branches this fiscal. An official said that in this fiscal, the bank would establish 5 totally automated branches.
RBI directs banks to make phone banking safer or pay penalty
RBI has strictly directed banks to make mobile and phone banking safer to avert identity frauds in non branch banking services. The banks will now have to install an extra cover guaranteeing the legitimacy of the customer carrying out the debit or credit card transaction through the phone. If they fail to do so then… Read More »
SBI joins hands with Suzlon Energy to enter green power
India’s biggest public sector bank. State Bank of India is the first bank to venture into green power by establishing windmills. SBI has ventured into green energy in order to become energy neutral in the future, the statement from the bank said.
Maruti’s Q4 net increases three fold
Maruti Suzuki India posted approximately three-fold leap in net profit at Rs 656.55 crore (Rs 6.56 billion) for the quarter ending March 31, 2010. The company had reported a net profit of Rs 243.13 crore (Rs 2.43 billion) in the matching quarter of 2008-09 fiscal, according to the statement made by Maruti Suzuki India to… Read More »
Finance ministry may disallow new teaser home loans
The public sector banks may be prevented from introducing any new teaser home loan schemes by the Finance Ministry. The intention of doing this is to prevent any occurrence of rate war between the banks, thus causing increasing NPA levels.
ICICI Bank posts Rs. 1,81,206 crore increase in loans, including car loans for FY ‘10
After reducing its retail loan book for 7 quarters right from the start of 2008-09, ICICI Bank has started increasing its loan book. The loan book of the bank, including car loans has posted an increase of Rs. 1,81,206 crore on 31st March 2010 as against Rs 179,269 crore in the earlier quarter.
Date for bad loan provision ratio extended beyond Sept. 2011
RBI has ultimately permitted banks to increase the target date for meeting the bad loans provision coverage ratio of 70% after September 2010. The date has been increased till September 2011. But banking giants viz. SBI and ICICI Bank have obtained the extension only up to March 2011.
Bank loans including personal loans increase by 17% as on April 9
Bank loans including personal loans increased by 17% on year as on April 9, the apex bank’s weekly statistical supplement (WSS) stated. Deposits were hiked 16% from a year back. Outstanding loans went up by Rs. 8.26 billion ($186 million) to Rs. 32.41 trillion in the 2 weeks up to April 9.
Increase leverage on home loans
Teaser loan schemes are personalized products introduced in the market in order to entice more clients. Although most of the banks have stopped offering teaser loans, SBI and HDFC Bank still offer these loans. With these schemes the customer can make a choice and reduce the interest rate during the initial years of the loan.