A recent press report said State Bank of Mysore has launched online loan application and tracking for home loans, education loan, vehicle loan and micro, small and medium enterprise (MSME) loans. The customers just need to fill in the details such as name, residential address, contact details, email ID, income details and choice of branch… Read More »
A recent press report said that the rising interest rates have had little impact on home loans as borrowings have gone up 21% since March 2010 even as rates have gone up by around 300 basis points in the same period. Reports said that some of the borrowers have taken loans in from tier-I and… Read More »
A recent press report said that the Reserve Bank of India, the central banking institution has planning to do a revised study on the potential growth rate. Dr D. Subbarao central bank Governor, told the press that the study has been planned due to the slowing economic growth. Reports said that the issue has been… Read More »
A recent press report said that Andhra Bank has launched prepaid gift and international travel cards. Reports said that the prepaid gifts card is available in denominations between Rs. 250 and Rs 50,000 and can be bought at no additional charge. The customer requires gifts cards valued beyond Rs 20,000 select Know Your Customer (KYC)… Read More »
A recent press report said that South Indian Bank (SIB), has launched gold coins and ingots titled ‘Pure Gold’ and called upon customers to make use of the global trend in gold prices and invest in pure gold brought from Switzerland. Reports said that the SIB brand ambassador and actor Mammoth launched SIB Pure Gold… Read More »
A recent press report said that the National Small Industries Corporation (NSIC), a major lender to small and medium enterprises, has announced that it will pass on the increase in interest rates to the borrowers. Mr. H. P. Kumar, Chairman and Managing Director, NSIC said while said that the rising interest rates were causing hardship… Read More »
A recent press report said that NHB has said that it will soon come out with a directive to abolish penalty on pre-payment of floating loans. Mr. R. V. Verma, Chairman and Managing Director, NHB, said that it has planned to issue a circular for doing away with pre-payment charges levied by housing finance companies.… Read More »
A recent press report said that the National Housings Bank (NHB) has waived off the penalty on pre – payment of the home loans. This would help the housing finance companies (HFC) to have an edge over banks during this festival season. Bankers have said that the Reserve Bank of India (RBI) should also introduce… Read More »
A recent press report said that Canara bank had organised a mega Canadalat. Repots said that the mega Canadalat organised by the bank evoked tremendous response and 208 non-performing asset (NPA) borrowers attended the meet. According to press reports the got received settlement of Rs 190 lakh on the occasion and a spot cash recovery… Read More »
According to a recent press the new policy rate hike seems not to have come as a jitter to small private lenders. Small private lenders such as Catholic Syrian Bank, Tamilnad Mercantile Bank and City Union Bank have already raised their base rate before RBI’s rate hike announcement. Mr. A.K. Jagannathan Managing Director and Chief… Read More »