Car loan lender, Mahindra & Mahindra Financial Services is hoping to obtain a 45% increase in net profits in this fiscal due to rising demand for loans in the commercial and pre-owned cars and construction equipment sector, said senior officials of the company.
PSU bank Union Bank of India predicts deposit rates to increase from October, a senior official said. Chairman and MD M.V. Nair said, “The liquidity is already under pressure with the advance tax payments outgo. Then from October, firstly, the busy season starts where the credit is expected to grow at a faster pace than… Read More »
German luxury car manufacturer BMW has declared it has increased production capacity of its Indian unit to 5,400 units a year and will invest another Rs 70 crore by 2012.
The 2nd quarter monetary policy review by Reserve Bank of India is anticipated to increase further the main policy rates. Bankers say that the repo rate may go up from the current 5.75% to 6% but a hike in cash reserve ratio (CRR) is not anticipated.
When Tata Motors first introduced Ace, a small truck, it became a smashing hit. The company sold more than 100,000 Aces and nearly 50,000 units of the Magic, its passenger carrier developed using the Ace platform. But now the truck is facing competition as Mahindra & Mahindra has introduced 2 small trucks; the Gio and… Read More »
Biggest personal loan lenders in the country, State Bank of India and ICICI Bank are planning to outsource ATM management services. If the deals come true, it would cost Rs 4,500 crore and Rs 1000 crore for the corresponding banks.
PSU lender, Vijaya Bank and Hyundai Motors India have entered into a pact to mutually help both the companies. The companies have entered into a memorandum of understanding (MoU) for this purpose.
The biggest private sector bank in the country, ICICI Bank has introduced a new credit card jointly with Kingfisher Airlines. The card would offer a wide array of lifestyle gains to its holder.
PSU lender, Indian Bank has launched “Festival Offer- 2010′ for all new home loan borrowers. The offer will be effective from 13th September 2010 to 31st December 2010.
The minimum premium size of the new ULIPs has increased. Previously, a unit-linked pension plan could be bought for a premium of Rs 500 a month. The minimum monthly premium for LIC’s pension plus scheme, launched after September 1, is Rs 1,500. However it still does not work as a pure insurance product due the… Read More »