Car loan lender IDBI Bank has removed the requirement for minimum balance on its current and savings accounts as well as majority of the service charges on these accounts. The bank has taken this step so as to boost its share of CASA deposits.

CIBIL and NHB are making active steps to lessen frauds connected with home loans. Both the companies have chosen to start a central registry of mortgaged homes. One of the prime causes for increasing number of bad loans was frauds in which the borrower took the loan by using fake documents.

Banking giant, Citigroup is ready to play its part in the growth of Indian banking sector by continuing its concentration on microfinance and priority segments of the country such as financial inclusion and education sector, according to the bank’s CEO.

Personal loan lender, UCO Bank has obtained a 6 month extension from RBI for reaching the provision coverage ratio of 70%. The extension obtained by the bank is valid till March 31.

Allahabad Bank has announced a discount of upto 1% on loans as a festive bonanza. This step was taken by the bank in order to entice more customers.

The 2nd biggest private sector bank in the country, HDFC Bank has increased interest rates on car loans by around 25 – 10 basis points.

Personal loan lenders, Punjab National Bank and Union Bank have increased deposit rates by upto1% point on numerous maturities.

Indian hatchback market is on a high.  It is rising at 35% per annum. It is dominated by Maruti Suzuki’s Swift, Hyundai i20, Volkswagen’s Polo, Skoda fabia and Ford Figo.

It may be awhile  before home loan lender SBI finishes merging with all its subsidiary banks. The government is asking for a clear picture of the expense likely to be sustained for the rest of the mergers and others factors from SBI before taking a decision on the topic.