With inflation affecting even non-food items, the Reserve Bank is expected to tighten its monetary policy further in its next annual policy, which can increase interest rates, Citigroup said. A Citigroup Global Markets report said, “With inflation getting a bit more generalised, we expect the RBI to raise rates once again in its policy on… Read More »
The iconic Royal Enfield has said it has launched its new Bullet model, ‘Electra Twinspark 350’. Read more about it.
IRDA’s has taken this step to increase transparency and help consumers to have a clear understanding of the product. IRDA explains the bias towards longer tenure Insurance products by maintaining that insurance products should be long term saving vehicles and hence investor opting for it, should benefit. Also, this will encourage investors to look at… Read More »
SBI’s special home loan scheme or teaser loan scheme has ultimately been extended up to 30th April 2010. But the bank has stopped the teaser loan offer for loans less than Rs. 50 lakh. However, the bank has decided to extend its special home loan offer even after 30th March 2010 but did not make… Read More »
HDFC Bank sees incredible prospect in the educational loan segment and will be concentrating on the segment over the next years. This information was given by Ms Renu Sud Karnad, Managing Director, Housing Development Finance Corporation (HDFC).
Auto major Tata Motors said it has sold 20% stake in Telcon, its construction equipment joint venture with Japan’s Hitachi, to its partner for Rs 1,159 crore (Rs 11.59 billion). After the deal, Tata Motors will hold 40% stake in Telcon, while Hitachi will hold 60%, the company said.
The Indian arm of Citibank, the top global financial services company has been won an award titled ‘Excellence in Internet Banking’ for the year 2009. The bank was given the award at The Asian Banker Excellence in Retail Financial Services Awards Program.
City Union Bank (CUB), has drawn up plans of raising capital valued at Rs. 1000 crore over the next 3 years in order to reach its business target of Rs. 50, 000 crore by the year 2013-14. The bank has stated its aims of using instruments such as rights issue, qualified institutional placements (QIP) or… Read More »
The 3rd biggest private sector bank in the country, Axis Bank has opened its 1000th branch in the country. The branch is located at Bandra Reclamation situated in the Western suburbs of Mumbai.
March has always been a hectic month for bankers with the end of financial year. But this year, it has been special as other than the normal activities, some additional actions also took place in the banking sector.