Banks increase bulk deposit rates
As a step towards fulfilling the year end targets, banks have taken recourse to increasing interest rates on bulk deposits instead of retail deposits.
Category Archives: Articles
Absence of Sharia norms hinders SBI’s W. Asia expansion plans
State Bank of India (SBI) said it is losing the banking opportunities in the Middle East due to lack of regulations on Islamic banking in India. The Middle East is viewed as a major market for these products, due to high wealth in this area.
Ford Figo makes its arrival in showrooms
The car market is abuzz with news that Ford is ultimately available in the showrooms.The price of the petrol model of Ford’s new compact car Figo lies between Rs 3,60,000-4,50,000 and the diesel model costs from Rs 4,50,000 to5,45,000 (ex-showroom, Delhi).
Real estate companies ask for service tax rollback on housing
Real estate developers are holding an emergency meeting to examine the effect of the service tax on housing and will speak to the government for rollback of the Budget scheme.
New BMW 330i available at Rs. 33.4 lakhs
BMW has introduced 2 new models in its 3 series sedan class. BMW India’s president Peter Kronschnabl introduced BMW 320d corporate version (diesel) and the BMW 330i (petrol) as the 2 new BMW 3 Series sedans.
RBI set to increase repo and reverse repo rate??
The Reserve Bank of India is set to hike its short-term interest rates by April as a step towards coming out from the easy money era. This was stated by Deutsche bank. Pratik Gupta, head of equities, Deutsche Bank, said “Our assessment is that the RBI will hike the repo, reverse repo rates by April”.
Why are the property prices exorbitant in Mumbai?
A cartelisation of Mumbai’s real estate, in the case of transferable development rights has hiked the prices and also led to worries amongst policy makers. A recent development shows that mere 6 builders are in charge of 70% of the 2.5-3 million sq ft available TDR. The price of TDR has also gone up to… Read More »
Doing away with pre-payment penalty to burden customers: RBI
Eliminating pre-payment penalty on loans might encourage banks to increase interest rates on loans to pass on their load on to the customers, according to RBI Deputy Governor Usha Thorat.
Sales of Bajaj motorcycles zoom to 78% in February
India’s second biggest two-wheeler manufacturer Bajaj Auto posted 78.03% increase in motorcycle sales at 2,34,623 units in February. Last year, the company had sold 1,31,785 units in the same month, a statement by Bajaj Auto Ltd (BAL) said.
HSBC India reports 44% reduction in profits
HSBC India has reported a reduction of 44% in net profits for the year ending 31st December 2009. This reduction is due to loss of Rs. 1000 crore suffered by the retail banking arm of the bank. The commercial banking arm of the bank has also reported a decline. However the bank’s gains from its… Read More »