Global sales of Tata Motors up by 29%
Tata Motors Ltd said that its global car sales in August went up 29% from a year back to 85,114 units.
Personal loan lender Axis Bank goes ahead with financial inclusion
The leading personal loan lender in the country, Axis Bank has tied up with microfinance institution (MFI) Janalakshmi Social Services to help in offering financial services to the urban poor.
HSBC, CBI say that policy rates expected to remain unchanged during September review
PSU lender, Central Bank of India anticipates that the September review of monetary policy would not introduce any more alteration in main policy rates. This was stated by chairman and MD S Sridhar. The review is planned to be held on September 16.
Credit card usage falls in India
With innumerable cold calls made by the banks to their clients for take the credit cards , it looked quite clear to everybody that the credit card market would keep on rising in India.
RBI recommends laws to make banks accountable to customer
Individuals and small borrowers are soon to get more rights A committee constituted by RBI has suggested introducing a new law which will make banks more accountable to customers and safeguard their interests.
Higher base rate for home loans turns out expensive for banks
Base rate has been making banks miserable. Previously banks had to deal with losing short term borrowers to commercial papers (CP) but now they are losing customers to their competitors as well. This is because base rate has made home loans very expensive.
Axis Bank says liquidity situation getting better for banking segment
Liquidity situation is getting better for the banking sector although it has not completely revitalized, according to a senior official of Axis Bank. The official said, the improving position of liquidity signifies that further interference is unlikely on behalf of the banking controller, RBI in the monetary policy review to be held on September 16.
Car loan lender Federal Bank connects ATMs to NFS
Car loan lender, Federal Bank has connected its ATM network to National Financial Switch (NFS). NFS is looked after by National Payments Corporation of India (NPCI).
Foreign banks to be given entry on the precondition of financial inclusion
Foreign banks may get entry in India but only if they fulfill the condition that they participate in the total financial inclusion.
Gauge fund performance, use standard deviation!
Standard deviation steps in where average failed. It gives you an idea about the rating of the quality for the average. It can be defined as the difference between the numbers used in calculating the average and the actual average. It is an indication of how accurately the average represents its parent numbers.