A recent press report said that the Reserve Bank of India has made up a committee on priority sector under the Chairmanship of Mr. M V Nair, Chairman & Managing Director of Union Bank of India. The RBI has set up a committee to reexamine the existing classification and suggest revised guidelines with regard to… Read More »
A recent press report said that the recent policy rate hike by regulator Reserve Bank of India will lead to rush in loan rates by various lenders. Reports said that major lenders like Punjab National Bank, Bank of Baroda (BOB), IDBI Bank and Oriental Bank of Commerce (OBC) have already raised their base rate to… Read More »
A recent press report said that ICICI Bank has announced the launch of fixed interest rate product for home loans. According to the scheme a customer can get a home loan at a fixed interest rate valid for a period of one or two years, after which the loan will move to floating interest rate. … Read More »
A recent press report said that a scheme of home loans for state government employees, a joint initiative of the state government and Central Bank of India has been launched. Mr. Nitish Kumar, Chief Minister of Bihar who spoke at the function organised for the launch said that if the bankers fully cooperate, then corruption… Read More »
Dhanlaxmi Bank has hiked its retail term deposit rates in two baskets, taking it into double digits in one maturity. As per the new slabs the depositors will earn 10 per cent per annum for a special 300-day term deposit. The rate of 10 per cent is applicable for deposits below Rs one crore. Mr.… Read More »
According to a recent press report Crisil has said that the demand for retail loans is likely to be extremely strong in tier -II cities due to increased penetration and entry of more players. a recent report by Crisil titled ‘Retail loan products: Opportunities and risks beyond the metros and mini-metros’ said that the retail… Read More »
A recent press report said that Corporation Bank is in the process of according special and exclusive services for senior citizens. Mr. Narendra Singh, Executive Director of the Bank said that the bank has planned to roll out certain special services for senior citizens shortly. He said that the Top of Form Bank has registered… Read More »
A recent press report said that Mr. Ramnath Pradeep, Corporation Bank Chairman and Managing Director have disproved charges of inappropriately sanctioning big-ticket loans. He said that the bank’s net non-performing assets (NPAs) would not have been below one per cent of the total advances if the allegations were true. Reports said that the finance ministry… Read More »
A recent press report said that State Bank of India has announced a special car loan scheme which will provide credit at attractive interest rate. The new car loan product will charge Rs 1,700 as EMI on a loan of Rs 1 lakh, at an interest rate of 11.5 per cent per annum. If someone… Read More »
A recent press report said that State-run lender Central Bank of India has launched a special scheme offering to double depositors’ money in seven-and-a-half years. The scheme has been named as ‘Cent Double’, and will give an annualized yield of 13.33 per cent and is valid between September 1 and December 31. Reports said that… Read More »