The evolution of the BPLR can be traced back to September 1990 when the first attempt to rationalize the administered lending rate structure was made by removing multiplicity and complexity of interest rates. According to this structure, the advances of scheduled commercial banks were divided into six slabs and progressively higher interest rates were prescribed… Read More »
On most cases of banks declaring bankruptcy, there is an inordinate delay on the part of the Reserve Bank of India (RBI) and the DICGC in settling the deposit insurance for depositors. The reasons cited include the progress in the process of liquidation and attempts to revive the banks.
The rapidly evolving banking systems have enabled credit cards emerge from a simple tool for cashless transactions to multiple types with different interest rates, fees and reward programs.
Private sector bank, Dhanalakshmi Bank has trimmed its deposit rates by up to 1 per cent across various maturities, a press release issued by the bank said. The new rates which will be effective from the 12th of October are as follows
Inspite of the recession taking its toll on the state of finances of this country, some banks seem to have registered a good growth in profits thanks to the life saving measures implemented by the RBI to safeguard the economy from crumbling.
SIB has become the largest service provider among the 21 banks and financial institutions participating in the scheme, with 105 of its branches designated as the Point of Presence (POP). An SIB release said in Thrissur on Saturday that of all the institutions selected by PFRDA, SIB has got the largest Points of Presence.
Earlier this week IDBI bank had cut its home and auto loan rates by 0.25 – 0.5 %. Interest rates for home loans up to Rs 30 lakh will be 8.75 per cent as against the existing 9 per cent. Loans between Rs 30 lakh and Rs 50 lakh will attract a rate of 9… Read More »