Delayed Payment Charges (late payment charges or penal charges) are levied if you make the payment after the due date. You might also be subject to cheque bounce charges in case one of your cheques is not cleared because of lack of funds. Cheque bounce charges can range anywhere between Rs. 250 and Rs. 500.
Over a period of time, marriages have evolved from a simple ritual uniting two souls to a complex affair where lakhs and crores of rupees are spent on lavish ceremonies. Besides costs of all the services involved in providing marriage facilities, have gone up. So if anything goes wrong, the parties involved can suffer heavy… Read More »
Housing Development Finance Corporation (HDFC) has re-introduced a scheme of offering loan against property. Loan against mortgage of Property is regarded as a riskier business as against home loans, and so, attracts a far higher rate of interest as against home loans. To lower the risk in these loans, HDFC has said it will offer… Read More »
India will continue withdrawing economic stimulus introduced during the financial crisis and carry on increasing interest rates on personal loans despite uncertainty associated with euro zone’s debt problems, finance minister said. Pranab Mukherjee said that a worsening debt crisis in Europe could affect India’s and other emerging economies’ exports and growth, but this risk was… Read More »
US auto maker General Motors said it would either introduce or display an electric car in the Indian market next year, but refuted vying with the Tata Nano on price aspect. The President and MD of GM India, Karl Slym, said “I would like to say that you will start to see opportunities for sale… Read More »
Japanese car maker Toyota is looking into the likelihood of establishing a research and development facility and engine plant in India, the head of its joint venture said. MD of Toyota Kirloskar Motor Hiroshi Nakagawa said Toyota presently conducts R&D in Japan and Thailand, among other places. He said one of the alternatives being looked… Read More »
Bank deposits rates in India are anticipated to increase, providing relief to citizens reeling under inflation and low returns on their savings, according to the research wing of global rating agency Moody’s. “Indian bank depositors will soon see interest returns rise for the first time since late 2008,” Moody’s Analytics said. It said further, “The… Read More »
With the number of banks going for a hike in withdrawal limits of their debit cards increasing, the cost of refilling the ATM machines with adequate cash has also increased. Recently, HDFC Bank had hiked the withdrawal limits of its debit cards. Loney Antony, MD of payment services company Prizm Payments, says, “On transactions at… Read More »
India’s biggest lender, State Bank of India has said it will declare its base rate by June 15 and the rate will be computed according to SBI’s cost of deposits. SBI Chairman O P Bhatt said, “For State Bank alone, we are looking at the cost of deposits and not the cost of funds (for… Read More »
HDFC Bank can double in size every 4 years, but is not intending to become the biggest among all, said Deepak Parekh, Chairman of the HDFC Ltd. He said, “Our bank is growing very well, we are satisfied with that. We are not planning to be State Bank of India, we are not looking to… Read More »