Banks are scared that they may not be able to prevent microfinance institutions from levying high interest rates to borrowers. So they should introduce a system that would help to put a control on the lending process of MFIs.

Increasing lending rates due to constant policy rate increases by Reserve Bank of India is forcing banks to reset their credit offtake goals which they had set for this fiscal.

Looking at the industry inclination, teaser rates will continue to be around, said the chairman of HDFC Deepak Parekh.

Car loan lender, Punjab & Sind Bank has accepted to work as registrar for the Unique Identification project known as “Aadhar”. The bank has entered into a Memorandum of Understanding (MoU) with the Unique Identification Authority of India (UIDAI) in this respect.

The latest personal loan lender in the country, Yes Bank has said that its base rate will not change in the immediate future.

The biggest lender in the country, State Bank of India has now started a special branch just for the corporate salary account holders at the DLF Cyber Centre at Gachibowli, Hyderabad.

Atul Auto Limited (AAL), one of the biggest three wheeler producer and leader in front engine diesel and CNG 3-wheelers, has witnessed major rise in sales of 3 wheelers in the month of August. AAL has posted major increase of 92% in August by selling 1728 units as against 901 units for the same month… Read More »

Tata Motors will introduce Aria a hybrid of a multi-utility and sports utility vehicle within a month. Opened at the Auto Expo and famous as a four-wheeler developed for Indians by Indian engineers, Aria will vie with Toyota Innova and M&M’s Xylo.

Banks are fighting Reserve Bank of India’s move on deregulation of the interest rate on savings bank accounts, the final frontier of regulated rates. Banks gain from low-cost savings deposits. The apex bank wants to liberate the savings deposit rate to smoothen monetary policy spread, which it considers is affected by the present fixed-rate regime.… Read More »