As a bid to restrict the misuse of legal methods for spreading rebellion in the country, the Govt. has frozen 18 bank accounts held by terror suspects under the Unlawful Activities (Prevention) Act. The bank accounts were maintained in high alert areas such as Pune, Guwahati and West Bengal and have been frozen as per… Read More »
State Bank of India has hiked its interest rates on foreign currency non-resident bank deposits and non-resident external rupee term deposits with immediate effect. FCNR(B) deposits in US Dollar with maturity period of one year to below 2 years will now carry a rate of 1.92% (1.84%) while deposits for 2 years to below 3… Read More »
Union Bank of India is shortly going to exceed the Rs. 3 lakh crore mark in provisions of total business, the bank said. With this, the bank will find a place in the choice group of State Bank of India (SBI), Bank of India (BoI), Bank of Baroda (BoB) and Punjab National Bank (PNB).
The government-owned Central Bank of India said it intends to start more than 100 branches in the present fiscal. S Sridhar, Central Bank of India CMD said, “We are going ahead with the branch expansion, not at the pace it was there in past it’s more calibrated growth. Still, we would be opening more than… Read More »
The biggest lender in the country, State Bank of India has already started hiking interest rates on home loans. Being one of major players in the housing finance market, SBI has increased home loan rates despite carrying on with its teaser loan offer. The bank has increased the duration of its special home loans till… Read More »
HDFC Bank, a leading bank in the country that offers various banking services including Personal Loans has been penalized by the District Consumer Complaints Redressal Forum. The bank was held responsible for illegal fund transfer in an internet banking transaction. As per the order dated 25th March, the Forum has asked the bank to refund… Read More »
India’s biggest bank SBI said it intends to recruit around 15,000 business correspondents this fiscal, who will assist rural people to open bank accounts. A top SBI official said, “In order to expand our presence in the unbanked areas, the bank intends to hire around 15,000 (business correspondents) in 2010-1”.
Many big banks have opted not to continue with the special home loan scheme called as teaser home loan. Banks such as Punjab National Bank, Corporation Bank, United Bank of India and Bank of Maharashtra have chosen to terminate this scheme.State Bank of India, the country’s biggest lender has increased the duration of this scheme… Read More »
SBI’s special home loan scheme or teaser loan scheme has ultimately been extended up to 30th April 2010. But the bank has stopped the teaser loan offer for loans less than Rs. 50 lakh. However, the bank has decided to extend its special home loan offer even after 30th March 2010 but did not make… Read More »
HDFC Bank sees incredible prospect in the educational loan segment and will be concentrating on the segment over the next years. This information was given by Ms Renu Sud Karnad, Managing Director, Housing Development Finance Corporation (HDFC).