Deutsche Bank is ready to introduce a credit card that will let users redeem points or flight miles, collected by booking flight tickets on the card, against airline tickets. the credit card is called as WorldMiles credit card and is available in 2 models: Platinum and Signature. To utilize the service, card holders have to… Read More »
ABN Amro India has reduced the credit limit of some credit card clients to a 10th and hiked the minimum amount payable to 7% of total outstanding from 5%, mostly to convince them to give up their cards as it is nearing selling its retail operations to Hong Kong and Shanghai Banking Corp (HSBC).
The board of the Catholic Syrian Bank will meet to authorize the sale of 14.5% equity by its main shareholder, Bangkok-based NRI businessman Sura Chansrichawla to a group of non-resident investors. But while the board gets ready for the stock transfer, there are whispers of a bigger deal in the pipeline. Another group of CSB… Read More »
Volvo Auto India said the takeover of its parent Volvo by China’s Geely won’t affect its plans for India. The company also said there was no talk about the likelihood of the Chinese carmaker coming to India through it. Paul de Voijs, Volvo Auto India Managing Director said, “After what happened on Sunday, Volvo will… Read More »
Toyota’simage may have been hit after the Japanese carmaker had to recall its vehicles in the US, but in India the company sees no effect and is looking at a robust growth. Sandeep Singh, deputy managing director (marketing) of Toyota Kirloskar Motor said, “No impact in India. Our sales have doubled. It’s limited to the… Read More »
All car producers are planning a 1-3% hike in prices from April 1, due to new emission norms and to combat increasing raw material costs. The hike is anticipated to be at least Rs 2,000 on a mini car, increasing to Rs 71,000 on a high-end luxury sedan. The rise is mainly due to rising… Read More »
Nissan Motors is likely to establish a new factory in India to produce an entry-level car, which it intends to introduce at the cost of Rs. Rs 2.5 lakh via a joint venture. Kiminobu Tokuyama, MD, and CEO of Nissan India, said the company anticipated “very large” volumes of the new car which would be… Read More »
Thomas Cook (India), the biggest incorporated travel and travel related financial services firm has entered into an agreement with Saraswat Co-operative Bank in order to offer its international money transfer services from all of Saraswat bank’s branches. With this association, all the clients of Saraswat bank can use the MoneyGram service of Thomas Cook. The… Read More »
Axis Bank is holding talks with Max New York Life to buy a less than 5% stake in the insurance company and intends to complete the deal shortly, according to the top bank official. S Sengupta, Axis Bank’s Executive Director and CFO said, “We are in talks with Max New York Life to pick-up a… Read More »
Bad debts caused by non payment of loans by small borrowers have caused a hike in the volume of NPAs of Bank of Baroda. The fact was stated by Bank of Baroda Executive Director R.K. Bakshi. He said that most of NPAs occurred when small borrowers taking loans up to Rs. 50, 000 failed to… Read More »