Indicating toughening of interest rates in the industry, India’s biggest private sector lender ICICI Bank on Thursday increased deposit rates in certain tenures by up to 0.50% with immediate effect. After this, the rate on deposits for 390 days goes up to 6.75% as against 6.5% previously, ICICI Bank spokesperson said. Interest rates on deposits… Read More »
The industry & services sector were both expected to show a strong recovery and is performing along the expected lines. The mining sector is presenting a strong output expansion similar to its performance in June and July 2009 but the growth in the output of crude oil and coal has shown a marked decrease. Hence,… Read More »
Pushed by robust volumes of the Pulsar and Discover, Bajaj Auto, India’2nd biggest two-wheeler maker, has reported a 112% increase in motorcycle sales in January to 2.33 lakh units, as against 1.09 units a year back. Total sales of 2 and 3 wheelers doubled to 2.7 lakh units, while exports went up by 33% to… Read More »
Mahindra & Mahindra (M&M) is believed to be in talks with Italian and British two-wheeler manufacturers to build premium bikes for the Indian market. Top officials aware of the development said Triumph and Moto Guzzi are few of the companies that M&M has conducted discussions with.
Gujarat has now become an auto center. After Tata Nano, now it is the turn of Hero Honda. The world’s biggest two-wheeler manufacturer Hero Honda is looking for a place to establish a production plant in the state. Sanand, which is also the home for Tata Nano, may be the location for Hero Honda’s 4th… Read More »
State Bank of India (SBI) is considering buying an important stake in Tata Motors Finance, according to a top bank official. OP Bhatt, who is the chairman of SBI said that they are thinking about the deal of investing in Tata Motors Finance. Tata Motors Finance is the car-financing division of the Ratan Tata-led venture,… Read More »
Mahindra & Mahindra is targeting a double-digit growth in two wheelers during the next 5 years and would also look for some purchases to attain this, said Anoop Mathur, President two-wheeler sector. As per him, as a portion of the $6.3 billion M&M Group, they are always searching for chances to expand.
RBI is setting up guidelines telling banks not to call someone a defaulter, if the person has paid the negotiated amount to settle the account. Currently, despite paying the negotiated amount, the card holder is considered as a defaulter as per the bank’s records. Due to this his/her name occurs in the list of the… Read More »
Banks have asked for clarification from RBI on costing of old home loans after the new base rate system comes in. Loan agreements lasting for 15-20 years do not provide for substituting the prime lending rate (PLR), which is the base rate to which the floating rates are associated.
Honda is intending to introduce a cheapest small car in India by 2011.The Japanese car manufacturer is concentrating a lot on detail when designing this car, which has not been named till date. Lately, Honda sent saris to its factory in Japan and the designers and engineers at the factory saw first hand how sari… Read More »