A recent press report said that the largest lender of the country, State Bank of India has planned to enter into the mortgage market of the United Kingdom. Reports said that the bank has planned to take this step in order to expand its retail business even further. The lender would begin with the category… Read More »
According to a recent press report, industry chamber Ficci has said that SBI’s credit rating downgrade by Moody’s is likely to have far reaching implications on the Indian banking system as bad debts are expected to rise on account of high interest rates. Ficci has said that the slowing growth, high inflation and interest rates,… Read More »
According to a recent press report, public sector lender, State Bank of Bikaner and Jaipur has planned to increase the size of its business. It has aimed at doubling the size of its business in the upcoming three years tenor. The total business of the bank currently is Rs. 1 lakh crore and plans to… Read More »
A recent press report said that Excise Minister K. Babu, during the inauguration of inaugurating the Canara Mega Outreach Utsav, said that the initiatives of Canara Bank in the uplift of the rural population were commendable. He also declared open 15 new branches of Canara Bank in the state. Reports said that planning Board Vice-Chairman… Read More »
A recent press report said that the Reserve Bank of India has hiked repo rate by 25 basis points, taking it to 8.25% and adjusted the reverse repo rate to 7.25%. According to reports, Mr. Keki M Mistry, vice chairman and chief executive officer, HDFC said that the markets were expecting a 0.25% increase in… Read More »
A recent press report said that the Reserve Bank of India on Wednesday relaxed norms by doubling the transaction cap on small money transfers in order to facilitate fund transfers to people, particularly migrants, who do not have bank accounts. According to the new norms, the cash payout arrangements for amounts being transferred out of… Read More »
Since last 10 years, Gold has been hitting new levels. The pace accelerated after S&P downgraded US credit rating a few days ago. The credit rating of US has been downgraded from AAA to AA+. This is still good but then we are talking about United States and the almighty dollar. The consequences of this… Read More »
A recent press report said that National Housing Bank (NHB) has announced that it will come up with directives regarding prepayment of home loans by borrowers. Banks do not charge prepayment penalty if the borrower prepays the loan from his own funds. The borrower will have to pay prepayment charges if he prepays the loan… Read More »
A recent press report said that the National Housing Bank which regulates HFCs has planned to waive pre-payment charges on floating rate housing loans. MR. R Verma, chairman and managing director, NHB told the press that it will soon bring guidelines to remove prepayment penalties on all accounts. He said that they were currently examining… Read More »
A recent press report said that the unlike ICICI and HDFC, other banks and housing finance firms might not come out with schemes offering dual interest rate housing loans on the back of higher provisioning norms stipulated by the Reserve Bank of India (RBI) for such advances. Reports said that Edelweiss Housing Finance (EHFL) which… Read More »