A recent press report said that the Reserve Bank of India has allowed resident individuals to repay housing loans in rupee on behalf of their close relatives, who are non-resident Indians (NRIs) or People of Indian origin (PIO). Reports said that the Reserve Bank of India has announced that it has been decided that where… Read More »
A recent press report said that Federal Bank is looking at substantial expansion of its footprint in the next 12-24 months by adding another 245 branches to its present network of 755. Mr. Shyam Srinivasan, Chief Executive and Managing Director, of the bank said that the branch network of the bank would grow to 1,000… Read More »
A recent pres report said that Dena Bank has launched a loan mela of its own under which it offers a 25 basis points discount on new home and auto loans, besides halving the processing fee. Reports said that the benefits under festival offer will be effective from October 1 to December 31, 2011. The… Read More »
A recent press reports said that banks are now under RBI scanner regarding any kind of criminal behavior showed by them in terms of customer service. The RBI has put forward measures on the basis of which banks would be held accountable. Banks will have to comply with BCSBI (Banking Codes and Standards Board of… Read More »
A recent press report said that customers looking for attractive financing options for home loan or car loans during the season might be in for a disappointment as banks are either delaying their decisions to announce special schemes for festive season due to uncertainty over interest rates or have decided against offering interest subsidy on… Read More »
A recent press report said that private sector lender Yes Bank has appointed Mr. Asit Oberoi as its Senior President and Chief Operating Officer. Reports said that he will be responsible for overall operations and service delivery at the bank. He is a chartered accountant, with 20 years of experience in the banking and finance… Read More »
A recent press report said that Indian banks’ credit to non-bank financial companies (NBFCs) has increased extremely in the month of July as lenders showed more preference to less-regulated sector as loan demand from corporate has slowed down. Reports said that the credit growth to NBFCs stood at 55.6 percent on a year-on-year basis in… 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 HSBC is planning to grow its unsecured Indian loan portfolio, mainly credit cards as its retail operation moves towards a return to profitability in Asia’s third-largest economy. Reports said that banks in the country have cut down unsecured lending after personal loans and credit card dues turned bad following… Read More »