In order to grow the private banking sector, banks are now aiming at the rich from smaller towns. The growth in these towns is much more since these markets are not so nicely penetrated though bigger cities continue to bring in volumes. During the recent years, banks have been focusing on their private banking business,… Read More »
TVS Motors, a car maker based in Chennai has said that it has entered into a memorandum of understanding with India’s biggest lender, State Bank of India (SBI) for financing the inventory of car manufacturer’s dealers. As per the agreement, SBI will offer financing to more than 600 dealers of TVS Motors spread throughout the… Read More »
Private sector bank, Axis Bank has introduced a new service for its clients involving debit cards. The service involves offering payment solution to the clients and is known as ‘Axis Call and Pay on atom’. The bank maintains it to be a leader in offering a safe debit card-based payment service to its client via… Read More »
Berating the banking sector for its inability to reduce interest rates, the Economic Survey said borrowers are looking at optional and low-cost funding sources while cash-rich banks are keeping their excess money with the Reserve Bank of India. The pre-Budget statement about India’s financial health said, “The transmission of monetary policy measures (geared towards reviving… Read More »
Promoters of Bajaj Auto sold more than 10 lakh shares to another promoter body Bajaj Holdings & Investment in a bulk open market transaction priced around Rs 180.45 crore, a step to strengthen their stake. According to the block deal data on hand with the Bombay Stock Exchange, 5 promoters of Bajaj Auto sold 10,47,500… Read More »
The competition in this arena is expected to further strengthen the infrastructure capabilities of CIBIL, which currently has the first mover advantage and a huge database to its credit, not to mention a huge list of banks and financial institutions as its members. On the other hand the new entrants come with the rich experience… Read More »
Manufacturers focusing primarily on selling diesel cars such as Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen foresee a big fall in sales should the government accept the suggestion by Parikh committee to levy a flat tax of Rs 80,000 on diesel cars, due to increasing price differential with petrol models.
India’s banking regulator, RBI does not possess any details regarding the stiff fines and steep interest rates charged by banks on credit card defaults. When asked if RBI is aware of the fact that the banks are levying stiff fines along with heavy interest rate on credit card defaults and the statements are not sent… Read More »
Economic growth figures for the present financial year that will be released around May will give the actual scenario to the government to take the decision whether they can roll back the package. This was stated by Pronab Sen, the chief statistician.
On Thursday, ICICI Bank said that it foresees the interest rates to go up from the 2ndquarter of the forthcoming financial year, since investment activities will go up from then on.