A recent press report said that Mortgage Company LIC Housing Finance has joined the teaser home loan group by introducing ‘New Advantage 5’, under which the interest rate for home loans would remain fixed for the first five years. Reports said that LIC Housing Finance has planned to offer the loans at fixed interest rates… Read More »
A recent press report said that the secular rise in interest rates over the past year or so is disappointing home buyers and has also affected the housing finance companies (HFCs) which may have to consider with a fall in income in the changed scenario. Reports said that the effect has not affected the performance… Read More »
According to a recent press report Mr. K.C .Chakrabarty, deputy governor, Reserve Bank of India has said the central bank has not banned the controversial teaser rates, but said banks may have to make additional provisioning for such loans. Recently mortgage major HDFC launched a special home loan product giving borrowers the choice to choose… Read More »
A recent press report said that Union Bank of India has a new Executive Director, Mr. Suresh Kumar Jain. Mr. Jain has come in the place of Mr. S. C. Kalia, who has now superannuated. Mr. Jain is the former General Manager of Bank of India and has also worked in the London and Hong… Read More »
A recent press report said that Aviva is likely to offer a discount on the face value to Syndicate Bank. The consumer goods maker Dabur India owns 74% stake in Aviva Life Insurance Company India while UK-based insurer Aviva Group owns the rest. Syndicate Bank’s net profit rose 29.3% to Rs. 343.15 crore on 30.9%… Read More »
A recent press report said that Public sector Indian Bank has launched e-Treasury service combining the domestic and foreign exchange trading on a common software package. Mr. T. M Bhasin, Indian Bank Chairman and Managing Director said that the package analyses profitability, risk and costing aspects from different markets. Reports said that the new building… Read More »
A recent press report said that State-run Allahabad Bank has hiked interest rates on deposits for less than Rs 5 crore with term ranging from one year to less than two years by 50 basis points to 9.5 per cent. The bank has planned to revise the interest rate upward by 0.50 per cent per… Read More »
A recent press report said that HDFC Bank, the second largest private bank in the country, has opened a branch in Port Blair, Andaman Nicobar archipelago. The branch will not only provide services to the 4-lakh local population and the residents of the 37 inhabited islands, it is also set to benefit tourists from other… Read More »
A recent press report said that Corporation Bank has received the first prize under the ‘National Award for Excellence in Lending to Micro Enterprises’ for 2010-11 from the Union Ministry of Micro, Small and Medium Enterprises. Reports said that the award was presented by the President, Ms Pratibha Devisingh Patil, in New Delhi. The award… Read More »
A recent press report said that Punjab National Bank (PNB) has bagged two awards in recognition of its services to the micro, small and medium enterprises (MSME) sector. One award was for excellence in lending under the Prime Minister’s Employment Generation Programme (PMEGP) in the North Zone and the other award, is for excellence in lending under the… Read More »