Home loan lender Bank of Baroda increases PLR by 50 bps
Leading home loan lender, Bank of Baroda has hiked its benchmark prime lending rates (BPLR) by 50 bps (0.50%). The new PLR for the bank is 12.50%.
Car loan lenders ICICI Bank and HDFC Bank flout norms on recovery agents: RBI
The office of Banking Ombudsman has obtained numerous complaints from clients about techniques used by bank loan recovery agents which breach the norms laid down by the RBI for them. Car loan lenders, HDFC Bank and ICICI Bank have the highes number of complaints registered against them. Finance Minister Pranab Mukherjee said, “RBI has reported… Read More »
Axis Bank achieves target of $1 billion travel cards
Leading private sector bank Axis Bank’s Travel Currency Card Program which also included a tie up with Visa has reached a volume of $ 1 billion. It is the 1st card in India to reach this target.
Maruti holds market share below 50%
With competitors encroaching on India’s biggest car manufacturer, Maruti Suzuki India continues to hold less than 50% share, despite its highest-ever local sales in July.
Dhanlaxmi Bank says retail loans to constitute 30% of loan portfolio
Private sector bank, Dhanlaxmi Bank has estimated retail loans to comprise 30% of the total loan portfolio in this fiscal.
Base rate for car loan is a better alternative
With banks hiking their prime lending rates (PLR), borrowers are forced to select between the base rate for car loans and PLR.
Home loan lender Indiabulls not to go for banking licence
IndiaBulls has elected not to go for bank license. The home loan lender now plans to venture into the infrastructure finance sector.
Personal loan lender IDBI Bank likely to review variable pay structure
IDBI Bank has taken a decision to review the variable pay structure which it had introduced a short while back. It was the sole PSU personal loan lender to follow this method of payment.
Mutual funds – Don’t let past ruin your future!
What is the volatility of the fund? Remember in most instances funds with high returns tend to be more volatile. E.g. funds with mid-cap exposure and sector funds tend to be more volatile, but also offer higher returns. Also some fund managers tend to churn the portfolio in order to give higher returns, thus making… Read More »
Hyundai to increase production by 12%
Hyundai Motor India said it will hike manufacturing ability by around 12% to 670,000 units a year at its Chennai factory.