India’s biggest bank, State Bank of India has been awarded the prestigious Asian Banker Achievement Award this year as the most robust bank in Asia Pacific region. Qatar Financial Centre Authority and the Asian Banker magazine give the award.
Maruti Suzuki India has plans to introduce a new model of its small car Alto, the largest selling model in India, with a bigger engine. The industry sources say, the company intends to introduce the new Alto with a one-litre petrol engine from its newest series of engine, the K-Series.
Jet Airways has announced a tie up with SBI Card in which customers can book airline tickets via their portal using the credit card alternative. SBI Card is a joint venture between State Bank of India, the country’s biggest lender and GE Capital.
India’s biggest lender, State Bank of India might be extending the duration of teaser home loan scheme further. But this decision depends completely on the liquidity status of the bank.
State Bank of India will shortly be hiking the loan limit to people purchasing land to construct a house by 10 times. This move by the banking giant is meant to raise its grasp on the home loan segment.
The financial year just ended had seen a sharp increase in bad loans including car loans due to the economic slowdown. This year banks are optimistic about delivering an improved performance due to better economic situation and repayment behavior.
The banking industry is all set to move ver to the base rate regime from personal loan July 2010. With that aim, all banks are busy computing their corresponding base rates on which they would base their pricing for
India’s biggest lender, State Bank of India has said that there may be an increase in the interest rates in the next days. This may make car loans more expensive. The Chairman of SBI, Mr O.P. Bhatt said, “There continues to be surplus liquidity in the system and credit offtake has not picked up, in… Read More »
According to the reports of March, the number of credit card holders has fallen. The number has gone below the 20 million mark and is presently at 18.3 million. The report acknowledging this reduction has been released by the Reserve Bank of India. The previous fiscal saw a big portion of 6.04 million cards stopped… Read More »
With the arrival of base rate, banks are worried that it may erode their profits. Banks say that once the base rate is implemented, they would pay more to the depositors but won’t earn a parallel income. Also they fear that home loans would be affected as old customers were given loans based on PLR.