The government has cleared infusion of Rs 6,211 crore into 5 PSU banks, a step which will assist in lending an extra Rs 77,637 crore to different sectors of the economy. The banks to receive capital infusion include Union Bank of India, Bank of Maharashtra, IDBI Bank, UCO Bank and Central Bank India.
Japanese two-wheeler giant Suzuki has introduced its superbike GSX-R1000 costing Rs 12.75 lakh (Rs 1.28 million) (ex-showroom, Delhi) making it the most expensive product from the company’s group in India Suzuki Motorcycle India, the fully-owned associate of the Japanese giant, introduced another superbike
Capital gains on stock and mutual funds, even those held for more than a year is proposed to be taxed. Also, capital gains could become part of total income after allowing a deduction at a specific percentage of capital gains without any indexation.
Having discipline is extremely important. You have to have discipline in the way one spends and controlling one’s expenditures. It is the key to reduce liabilities and debts and save more. As per a famous trading and investing legend- One must not spend time looking for the Holy Grail of investments or trading systems. It… Read More »
Disability insurance falls in the grey area between life and general insurance and both wait for the other to introduce this product. That is the reason such a policy cover is yet to make a foray into the Indian markets. Therefore, the best thing to do is to opt for the disability rider in a… Read More »
The Reserve Bank of India (RBI) has said banks should get top management approval to carry on business association with a current client who then becomes politically connected and that the banks should carry out customer due diligence (CDD) on politically exposed people.
Many PSU banks said they will fix the base rate for personal loans at about 8%. This new system is set to come into effect from 1st July 2010. SBI chairman OP Bhatt said the base rate of the bank would lie between 7.5% and 8.5% while Punjab National Bank CMD KR Kamath said it… Read More »
IDBI Bank has started its first overseas branch at the Dubai International Financial Centre (DIFC), to offer corporate banking services, including financial advisory and syndication of credit. The branch was opened by Union Minister of State for Finance Namo Narain along with IDBI Bank’s Deputy MD B P Singh and other dignitaries.
French car major Peugeot is ready to re-enter the Indian market which it left in the late 1990s. It anticipates good sales due to availability of cheap car loans. Peugeot-Citroen is presently scouting locations throughout the country, to establish a manufacturing plant.
Life Insurance Corporation (LIC), plans to venture into the reverse mortgage sector. LIC is in initial talks with the home loan regulator, National Housing Bank (NHB), for offering this scheme to its clients, a top official in the company said.