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.

Car loan lender, Kotak Mahindra Bank has started a branch in Kozhikode, thus taking a step to increase its presence in Kerala.

The credit disbursal for banks has come to a slow down, according to O P Bhatt, Chairman, SBI. He also said the present growth rate of 19 – 20% is not adequate for increasing interest rates.

Personal loan lender, Kotak Mahindra Bank has launched a new credit card, called as the Kotak NRI Credit Card.

Home loan lender, HDFC Bank has expressed its aims of starting another 150 to 200 branches throughout the country by the end of this fiscal, according to a senior bank official.

Public sector company, Power Finance Corporation (PFC) is aiming to venture into banking sector after the discussion paper on new banking licenses was released by the Reserve Bank of India.

The 2nd biggest public sector bank in the country, Punjab National Bank has introduced an online remittance service for NRIs called as PNB NRI REMIT-India’. The service would allow sending money from US to India.

Car loan lender State Bank of Mysore, a subsidiary of State Bank of India has launched an excellent crop loan scheme for farmers. In this scheme, the farmers will have to pay an interest of just 2%. A senior official of the bank said this is the first instance of any bank charging such a… Read More »