Personal loan lender, Karur Vysya Bank(KVB) has fixed a goal of reaching total business amounting to Rs 50,000 crore by the next fiscal, according to an official of the bank. The bank also plans to open 100 new branches and will shortly be applying for it, the official said further.
Leading PSU bank, Punjab National Bank has reduced home loan rates to 8.5% as a festive offer. These rates are teaser rates to entice increasing number of customers to the bank and its offerings.
Public sector bank, Bank of Maharashtra is anticipating a 2nd round of capital infusion from the central government by the end of this fiscal, according to a senior official of the bank.
Car loan lender, Indian Bank has hiked deposit rates for maturities of 2 years and more and with amounts of Rs 5 crore and more by 50 basis points. The new rates now are 7.75% as against 7.25%.
PSU bank, State Bank of Indore has hiked its lending rate by 50 basis points. 1 basis point means 0.01% points.
Increasing adaptation of Point of Sale (POS) terminals to debit cards has raised the use of these cards as against credit cards.
The bankers association of India (IBA) has opined that lending rates have to be hiked sooner or later. Fall in increase of deposits can be attributed as a cause for the former.
Interest rates may not go up for home loans provided by housing finance companies (HFCs), although in the present scenario the banks have hiked interest rates.
The biggest car loan lender of the country, State Bank of India has hiked deposit rates on various maturities. The hike has been up to150 basis points.
Personal loan lender, Dhanlaxmi Bank has fixed a target of obtaining total business worth Rs 28000 crore in this fiscal. The estimate is twice the present number of Rs 14,000 crore. Dhanlaxmi Bank is aiming for total deposits of Rs 13,000 crore and loan portfolio to Rs 9000 crore. The bank would mainly concentrate on… Read More »