State Bank of India has hiked its interest rates on foreign currency non-resident bank deposits and non-resident external rupee term deposits with immediate effect. FCNR(B) deposits in US Dollar with maturity period of one year to below 2 years will now carry a rate of 1.92% (1.84%) while deposits for 2 years to below 3… Read More »
Maruti Suzuki has become the first Indian company to sell more than a million passenger cars during this fiscal , with as many as 1,018,365 cars being sold from its showrooms during 2009-10. The company sold 870,790 vehicles in the local market and exported 147,575 cars from India. Both these figures were the best-ever, Maruti… Read More »
Union Bank of India is shortly going to exceed the Rs. 3 lakh crore mark in provisions of total business, the bank said. With this, the bank will find a place in the choice group of State Bank of India (SBI), Bank of India (BoI), Bank of Baroda (BoB) and Punjab National Bank (PNB).
T. M. Bhasin has been selected as the new Chairman and Managing Director of Indian Bank. He took over charge of the bank after the retirement of M.S. Sundara Rajan. Earlier, Bhasin was the Executive Director of United Bank of India from November 7, 2007. He made significant contribution to UBI in terms of capital… Read More »
Hinduja Group is all set to enter into the car loan business in India. It received RBI approval, thus clearing its entry into the market. The group will venture into the vehicle financing biz as a new company, Hinduja Leyland Finance (HLF) which has been set up with a starting capital of Rs. 100 crore… Read More »
After Tata Nano, Maruti Cervo and Bajaj-Renault-Nissan’s ultra-low-cost car intentions, now is the time for Toyota to launch a product for the entry level market. The assumption was first started by a Japanese magazine. It had printed an artist’s mind’s eye of Toyota’s low cost car. The magazine says the car is believed to be… Read More »
The government-owned Central Bank of India said it intends to start more than 100 branches in the present fiscal. S Sridhar, Central Bank of India CMD said, “We are going ahead with the branch expansion, not at the pace it was there in past it’s more calibrated growth. Still, we would be opening more than… Read More »
Sales of cars and two-wheelers kept on increasing in March despite latest price increases and partial withdrawal of stimulus package, aiding market leaders Maruti Suzuki and Hero Honda to superb sales in 2009-10. Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors, Ford, Fiat and TVS Motor also posted record annual sales and an unexpected… Read More »
The country’s 2nd biggest two- wheeler manufacturer Bajaj Auto today posted 85.12% increase in its motorcycle sales at 2,44,828 units in March. In March previous year, the company had sold 1,32,253 units, Bajaj Auto Ltd (BAL) said. During the full fiscal 2009-10, the company sold 25,06,749 units in the motorcycle division, an increase of 31.39%… Read More »
A new survey states that Indians are primarily looking to purchase houses costing Rs 20-50 lakh. This means the new housing projects costing crores of rupees may not have many takers. Moreover housing demand in the National Capital Region, which has seen an array of lavish and expensive projects being started in the recent past,… Read More »