Union bank increases deposit rates by 1%
Subsequent to the policy rate increase by Reserve Bank of India, Union Bank of India has also hiked the rates of its deposits. The new rates would be effective from 4th August.
Money tips for NRIs moving back to India
An NRI must give careful thought to his investments in India. While mutual fund investments are not taxed in India, you may have to pay tax if you decide to go back to your native country. Also if you redeem your mutual fund investments, before one year, you end up paying short term capital gains.… Read More »
Quick guide to filing tax returns
After having identified your sources of income, you need to select the right income tax form. Forms have been categorized on the basis of streams of income. The income tax website clearly specifies which form to pick, depending on your stream of income. For .e.g. if you are a salaried individual and have only salary… Read More »
Car loan lender joins hands with Western Union for cash transfers
Western Union, leading global payment service provider has tied up with the biggest car loan lender of the country, State Bank of India to offer international direct cash to bank account transfers. The service would be effective from next year. The statement said, Indians living abroad as well as all SBI account holders can transfer… Read More »
Personal loan lender HDFC Bank receives Celent Model Bank 2010 award
Leading personal loan lender, HDFC Bank has received Celent Model Bank 2010 award. This was announced by Nucleus Software. The bank received this award for its loan origination system.
Dena Bank waiting for Government’s Rs. 600 crore capital infusion
PSU bank, Dena Bank has anticipations of getting capital infusion valued at Rs 600 crore from the government in this financial year, according to a senior bank official. The official also said that why Dena Bank is asking for capital from the Centre is to speed up its business growth.
Home loan rates likely to remain steady over short term
The policy rate hikes should not trouble the retail customer as home loan and car loan rates will not see any increasing. Banks would be bearing this policy rate increase without affecting the retail borrower.
Maruti stresses more on new Alto
Maruti Suzuki, which reported a 20.3% decline in profit in the 1st quarter, anticipates the revamped Alto, its biggest selling model, to assist it to retain its portion of the aggressive Indian passenger car market.
New Porsche Cayenne at Rs. 1.27 crore
German luxury car maker Porsche, has introduced its second-generation Cayenne, costing between Rs 65.82-lakh (Rs 6.58 million) to Rs 1.27-crore (Rs 12.7 million) in India (ex-showroom).
Union Bank of India reports 36% rise in profit in Q1
PSU lender, Union Bank of India has reported 36% increase in its net profit for the Q1 in this fiscal. The net profit of the bank is Rs 601.42 crore as of June 30, 2010 as compared to Rs 442.19 crore for the equivalent quarter in the earlier fiscal.