On Monday, ICICI Bank Managing Director and CEO Chanda Kochhar claimed the bank’s 3rd quarter performance was “very positive”. She said the bank has come out stronger on all factors and has shown an operating profit of 22% after deducting treasury income.
State Bank of India (SBI) today introduced a new product called ‘SBI Gift Card’ in Hyderabad. The gift card was formally introduced by the mayor of Hyderabad city, B Karthika Reddy. The function was attended by the bank’s Chief General Manager for AP region Shiv Kumar.
Standard Chartered Bank, a leading Singapore-based bank predicts India will play a leading role in the technological aspect and introducing new products. It is also ready to work with smaller IT companies in order to offer economical services to its customers.
During the year 2009, Indian investors ended up lapping the largest chunk real estate sales in Dubai. This was discovered in a new study conducted by FutureBrand’s Gulf Real Estate Study.
Tata Capital, the financial services sector of the Tata Group, intends to end fund-raising for its US $350-400 million private equity fund during the following 6 months. This was stated by a senior official of the company.
With the dawn of new year, leading car makers like Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors and also Fiat have recorded their highest monthly sales since their commencement. Sale of different types of cars went up by 33% to 175,526 units in January as compared to 131,636 units sold in January… Read More »
Banks are worried about the competition commission’s interference on homeloan prepayment penalty subject as they are worried that it would force their costs, hike risk and also increase the lending rates.
State Bank of India’s chairman, O P Bhatt told the reporters that The Reserve Bank of India has taken the correct step by increasing the cash reserve ratio by 0.75% to 5.75%. He said that the excess liquidity in the system, was disturbing the interest rate curve and it was possible for big companies to… Read More »
Maruti Suzuki, India’s leading carmaker, won’t be passing on the lower taxes, to the customers of its petrol variant Swift. The company stands to save about Rs 40,000 for each car due to reduced excise duty for the Swift’s smaller engine, but puts the blame on the cost hike for this decision. This is different… Read More »
ICICI Bank, which lowered retail lending at the time of credit crisis, has reduced car loan rates and increased its dealer commissions, in order to recover its old glory as a leading retail lender, according to those in know of the subject.