The Reserve Bank of India, has said a bank will have to respect its fixed rate agreement, even if interest rates increase later on. The clarification has cleared doubts of some banks about launch of fixed rate home loans.
Japanese car manufacturer Nissan said it has nearly doubled the manufacture of its small car Micra to 500 units a day in order to clear an order backlog of around 2,500 units.
Despite banks making hectic efforts in enticing customers towards base rate; whether by lisitng the benefits of base rate or deterring them from BPLR by making home loans costlier, the efforts have gone down the drain. Currently, many banks had hiked their benchmark prime lending rates (BPLR) in a measure to force customers accept base… Read More »
State Bank of India is ready to give floating interest rates on term deposits.
Tata group company Jaguar Land Rover has plans to begin assembly of sports utility vehicle Freelander2 from November 2010 at Chikhli factory in Maharashtra, previously used by Mercedes Benz.
PSU car loan lender Indian Overseas Bank (IOB) has declared a hike in its lending rate by 50 basis points in accordance with the industry drift.
With rise in benchmark prime lending rates by various banks, home, car, education and personal loan rates have gone up in many banks. The rate increase occurred due to the policy rate increase by Reserve Bank of India in the monetary policy review.
State Bank of India (SBI) will offer interest-free seed capital of up to Rs 10 lakh to prospective entrepreneurs as a part of a new plan, SBISMILE, particularly mean to promote small and medium enterprises in the country.
Maruti Suzuki India is planning to restrict exports to 15% of its total production to focus on fulfilling local requirements and combat rising rivalry.
Yamaha Motor India has introduced 3 bikes for the Indian market. They were launched by the brand ambassador, John Abraham. The 3 motorcycles called SZ, SZ-X and YBR 125 have competitive pricing between Rs 47,000 and 52,000. The SZ and SZ-X models are powered by a 153 cc engine, the same engine used in the… Read More »