A recent press report said that the largest lender of the country, State Bank of India has planned to enter into the mortgage market of the United Kingdom. Reports said that the bank has planned to take this step in order to expand its retail business even further. The lender would begin with the category… Read More »
According to a recent press report, public sector lender, State Bank of Bikaner and Jaipur has planned to increase the size of its business. It has aimed at doubling the size of its business in the upcoming three years tenor. The total business of the bank currently is Rs. 1 lakh crore and plans to… Read More »
A recent press report said that the Reserve Bank of India has hiked repo rate by 25 basis points, taking it to 8.25% and adjusted the reverse repo rate to 7.25%. According to reports, Mr. Keki M Mistry, vice chairman and chief executive officer, HDFC said that the markets were expecting a 0.25% increase in… Read More »
A recent press report said that the Reserve Bank of India on Wednesday relaxed norms by doubling the transaction cap on small money transfers in order to facilitate fund transfers to people, particularly migrants, who do not have bank accounts. According to the new norms, the cash payout arrangements for amounts being transferred out of… Read More »
A recent press report said that the unlike ICICI and HDFC, other banks and housing finance firms might not come out with schemes offering dual interest rate housing loans on the back of higher provisioning norms stipulated by the Reserve Bank of India (RBI) for such advances. Reports said that Edelweiss Housing Finance (EHFL) which… Read More »
A recent press report said that public sector lender Vijaya Bank had organized a home loan in order to benefit its customer base in getting home loans. Reports said that the carnival termed as ‘Home Utsav 2011’ also came as an event meant to mark the 80th anniversary of the south based lender. The event… Read More »
A research report by Crisil states that the raising interest rates would result in increased equated monthly installments (EMI) of home loan borrowers of about Rs.6000 crore annually. This increase in EMIs coupled with slowdown in economic growth would lead to increased nonperforming assets (NPAs) of the lenders. The uninterrupted hike in policy rates since… Read More »
A fixed rate home loan scheme offers home loans at a fixed rate which will remain fixed for the complete tenure of the loan. The fixed rate home loan scheme is offered by Axis Bank under the name “Nischint”. According to the scheme there will not be any changes in the EMI and the bank… Read More »
A recent press report said that private sector lender Federal Bank has set plans to expand its business in the coming 2 years span. The lender has planned to increase its branch count by 245. Reports said that with the new addition, the total branch count of the bank would sum up to 755. Mr.… Read More »
A recent press report said that private sector lender Federal Bank has planned to make its entry into the credit card business of India in order to expand its reach and presence in the Indian banking domain. The bank has planned only to market the cards while the backend mechanism of the card would be… Read More »