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 ING Vysya Bank has revised its base rate by 0.25 per cent. The bank has hiked its base rate to 10.45 per cent as against the current rate of 10.20 per cent per annum. The bank has announced that the revised rate will be applicable to all existing loans… Read More »
A recent press report said that India Infrastructure Finance has planned to take over Rs 600 crore worth of loans from state-owned IDBI Bank, as part of a take-out finance pact between the two. According to reports from the RBI website institution or bank financing the infrastructure projects will have an arrangement with any financial… Read More »
According to a recent report from Crisil, in case power distribution reforms are not undertaken advances of around Rs.56,000 crore, or nearly 12% of domestic financial institutions’ exposure to the sector, are likely to turn into bad loans. Reports said the Indian financial institutions had lend Rs.4.8 trillion to the power sector and that the… Read More »
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 Public sector Corporation Bank and Andhra Pradesh Small Scale Industries Association (APSSIA) have signed an MoU to support small and micro industries in the city and its surrounding areas. According to reports, Mr. B. Laxminarayna, Corporation Bank Deputy General Manager (Vijayawada region) and Mr. D. V. K. Rama Rao APSSIA… Read More »
According to a recent press report Standard Chartered Bank is planning an aggressive expansion of credit-card customers over the next year. Mr. Shymal Saxena, General Manager-Retail Banking Products, India and South Asia said that the bank has started online approval of credit cards where the customers can get an ‘in-principle’ approval within 30 seconds. He… 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 »
According to a recent press report, Tamil Nadu Chamber of Commerce and Industry has said that the Reserve Bank of India’s decision to increase the repo rate by 25 basis points will affect the common man and hold back industrial growth and investment in the country. According to Mr. N. Jegatheesan, President of the Chamber… Read More »
A recent press report said that Bank of Baroda (BoB) has opened two branches, one in Manikbaug and the other in Pimple Saudagar in Pune. The branches were inaugurated by Mr. CD Kalkar, general manager (Maharashtra & Goa zone) of Bank of Baroda (BoB). Reports said that the ceremony was also attended by Kishor Kharat,… Read More »