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 »

The railway ministry has introduced a customer friendly step by electing to consider credit cards of customers having their laminated photos as their ID proof for traveling on e-tickets.

Foreign bank, Deutsche Bank has planned to reach 30% increase in its Indian operations. Till now, the bank was concentrating on deposits and mortgage lending as the main areas of focus. Now it plans to venture into small and medium enterprises (SME) and personal banking sectors.

The ratio of non performing assets (NPAs) in education loans is going up thus worrying banks a lot. Banks have asked for help from the government in the form of a credit guarantee fund as safety. They have asked for a fund of minimum of Rs 2500 crore.

The top judicial organization of India, Supreme Court (SC) has prevented itself from offering any type of guidelines to public sector banks on recovery steps to be undertaken for non performing assets (NPAs) amounting to Rs 1 lakh crore from defaulters.

The eagerly awaited government jobs are seeing a sea change. It means the end of comfortable working hours, adequate retirement fund and other perks as public sector companies are now switching over to contractual system of recruitment.

Till date the government has not received any claim from banks for refund associated with the interest subsidy scheme on education loans. There are fears that the new scheme may have failed to achieve the target as was anticipated from it.

CitiBank has opened a modern branch at Pune. The branch has been opened by Shirish Apte, CEO, Citi Asia-Pacific along with Pramit Jhaveri, Citi Country Officer, India and N. Rajashekaran, Country Business Manager, Global Consumer Group, Citi India.

IDFC, the infrastructure finance company has stated that it does no plan to venure into the banking division. The company made this announcement after the discussion paper on new banking license has been circulated by the Government.