Even after 2 years of letting banks use mobile banking technology for intrabank transactions, the result is still very low. All the 18 joining banks have produced transactions valued at just Rs 4 lakh combined which is quite a low figure.
Microfinance institutions (MFIs) may stop getting cheap funds from banks in the next 2 years if the RBI chooses to implement the suggestions of one of its committees.
Car loan lender, Indian Overseas Bank needs people to open more savings bank accounts as a part of its financial inclusion plan. By this the bank plans to educate people about the advantages of banking.
Following shortly on the heels of the biggest lender in the country, State Bank of India, HDFC Bank has launched a new format of its teaser home loan scheme.
Luxury carmaker Audi will introduce its premium A 8 model by the end of this year, a senior company official said. The company is aiming for a 30% market share in India market by next year while it plans to increase its dealership network to 18.
German luxury car-maker Audi has said it will increase its production by 50% in India to around 3,000 units next year. It is also gearing up to venture into the used-car business by 2011. The company’s fully-owned associate, Audi India is also planning to introduce the luxury sedan A7 and will start a market study… Read More »
Personal loan lender, Vijaya Bank has decided to concentrate on expanding its access in the northern part of the country. A senior official of the bank said, 74% of its new branches will be situated in the northern part of India.
Historically, gold has been the perfect hedge for inflation. This is based on data from the year 1800 AD. But in terms of absolute returns gold has fared rather poorly giving returns at only 0.8% above inflation. Real estate and shares beat gold squarely on the capital appreciation front. Real estate and shares have given… Read More »
The country’s biggest lender, State Bank of India (SBI), is aiming for 20% of its net income from overseas operations in the next 2-3 years, a senior official of the bank said.
Officials of the leading personal loan lender in the country, State Bank of India have chosen not to participate in the all India strike to be held on September 7.