Private sector car loan lender, Lakshmi Vilas Bank (LVB) is planning to take over the non banking finance firm, CitiFinancial Consumer Finance India of CitiGroup. The NBFC arm of Citi has been sick for quite some time.
PSU lender, IDBI Bank is ready to merge its housing finance arm, IDBI Homefinance with itself. This aim of the bank is meant to combine its home loan business and thus get a bigger chunk of market share.
Private sector personal loan lender, Federal Bank has prepared ambitious goal of reaching a total business of over Rs 75,000 crore in this fiscal. MD M Venugopalan of Federal Bank, said “We expect total business to cross Rs 75,000 crore in the fiscal”.
The board of PSU personal loan lender, IDBI Bank would be meeting to take decision about capital infusion valued at Rs 3,119.04 crore from the government. This capital infusion will take place in the form of equity share purchase by the government. The government would be purchasing 25.95 crore equity shares at Rs 120.19 a… Read More »
Government has introduced a new proposal for redefining the regulatory arrangement of big financial institutions. The proposal recommends establishing “a college of supervisors”. This college would include representatives of various regulatory agencies. The discussion paper about the formation of the Financial Stability and Development Council (FSDC) has claimed that these big financial organizations have a… Read More »
The biggest car loan lender of the country, State Bank of India has introduced one more initiative to target the comparatively weaker divisions. Poor workers and small businessmen in cities will now be able to open bank accounts for mere Re1. They can access all banking amenities such as deposits and petty cash withdrawals and… Read More »
Bajaj group has been looking to enter the banking division. But it may require some time for entry as RBI is not very enthused about giving banking licenses to major industrial houses. But Rahul Bajaj, chairman of Bajaj Finserv and Bajaj Auto Finance, is optimistic in this respective.
Normally, banks place a cap on the maximum amount of cash back that it offers. It is important to check this because even if you have spent more doesn’t necessarily mean that you are going to get a cash back amount as per that transaction.
ICICI Bank has said the bank and the banking sector is anticipated to increase at 20% a year as economic growth speeds up. ICICI Bank CEO and MD Chanda Kochhar said, “The Indian banking sector can grow at least twice the GDP growth rate. I’m actually quite confident that India can very soon get to… Read More »
The education loan arm of HDFC, Credila Financial Services anticipates its loan book to increase 2.5 times during this fiscal. HDFC holds a 51% stake in Credila. Credila is looking forward to leverage from the broad distribution network and big client base of HDFC Bank.