Leading PSU lender, IDBI Bank has hiked its Prime Lending Rate (PLR) by 50 basis points. Banks have adopted the tactic of hiking their PLRs in order to make customers adopt the base rate method of lending. This is likely to make personal loans costlier.
Car loan lender, Corporation Bank has signed an agreement with Unique Identification Authority of India. The bank has entered into a Memorandum of Understanding (MoU) under which it will be working as registrars for ‘Aadhar’- the UID project led by Nanadan Nilekani.
Home loan lender Standard Chartered Plc has stated that 1/5 of its total profits is derived from India. This is till date the highest the company has earned from any part of the world where it is operating.
Leading Japanese two-wheeler manufacturer Honda has introduced super bike VFR1200F at (ex-showroom) cost of Rs 17.5 lakhs (Rs 1.75 million) in New Delhi.
Public sector home loan lender, Union Bank of India is planning to open a subsidiary in UK in order to ignite to its plans of foreign expansion.
After like Punjab National Bank and Union Bank of India, it is now the turn of Corporation Bank to increase its prime lending rate. It has increased its loan rates by 50 basis points. This has made bank’s personal loans costlier.
PSU bank, Allahabad Bank is intending to open branches in China, Hong Kong and Bangladesh. The bank plans to increase its overseas business by around 3 times in the next 2 years.
Traveller’s cheques are on their way out and would shortly be replaced by prepaid forex travel cards.
RBI has appointed Shyam Srinivasan as the forthcoming MD and CEO of car loan lender Federal Bank. Presently Srinivasan is the country manager for consumer business in Standard Chartered Bank.
HDFC Bank intends to open new 250 more branches in the next 2 years. The bank will now focus on widening its base in semi urban and rural regions of the country. The bank will shortly be conducting 150 loan camps in the country. The present branch network of the country includes 1,725 branches and… Read More »