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Premium car manufacturer Mitsubishi said it will hike the price of its just introduced sports utility vehicle Outlander by around 2% from next month, and withdrawing the preliminary offer on the car.

The 2nd quarter monetary policy review due in September is expected to see another rise in major policy rate by apex bank, RBI.

Mahindra & Mahindra said it has been selected as the favored bidder by the struggling South Korean car maker SsangYong Motor for take over and the deal is expected to be completed by November this year.

Maruti Suzuki India introduced its 5 models in CNG flavors, including the top-selling Alto. Other 4 models that have been launched with this new alternative include compact cars Estilo and WagonR, multi-purpose vehicle Eeco and mid-sized sedan SX4.

Pictures of the 2011 Ford Fiesta hatchback testing near Chennai have hit the Internet.

With the leading players in the banking sector viz State Bank of India and ICICI Bank increasing the Benchmark Prime Lending Rates (BPLR), both the home and car loans have become costlier.

Low income and economical home loans  is on the agenda of Chennai based Aptus Value Housing Finance India. The company, whose promoter is M Anandan, previous MD of Cholamandalam Investment and Cholamandalam MS General Insurance plans to concentrate on the suburbs adjacent to metros near the urban and semi urban parts of Southern India.

Personal loanlender and the biggest subsidiary bank of State Bank of India, State Bank of Bikaner and Jaipur has increased its deposit and lending rates by 25-50 basis points and 50 basis points respectively.

Car major Ford said it is unlikely to launch a car as ‘Splash’, despite getting the brand registered in India. It had pressurized Suzuki to alter its worldwide hatchback with the same name to ‘Ritz’ for selling in India.

Personal loan lender, Karur Vysya Bank(KVB) has fixed a goal of reaching total business amounting to Rs 50,000 crore by the next fiscal, according to an official of the bank. The bank also plans to open 100 new branches and will shortly be applying for it, the official said further.