The State Bank of India (SBI) will soon start publishing photographs and names of willful defaulters in leading publications as a last resort to encourage them towards paying their dues. As stated by a senior bank official, “The idea is to discourage the public from making default in loan repayment. We have decided to send [...]

The Reserve Bank of India (RBI) has told banks not to include stamp duty and registration fees in home loans. It means buyers will now have to make arrangement for money for these two heads over and above the 20 per cent of the asset value which they are already expected to shell out. In [...]

The State Bank of India (SBI) is interested in curtailing interest rates in order to boost credit expansion. As said by Mr. Diwakar Gupta, Chief Financial Officer, SBI, “We are keen towards cutting the interest.” Earlier, the Reserve Bank of India (RBI) had curtailed the Cash Reserve Ratio (CRR) to 5.5 per cent from 6 [...]

The Reserve Bank of India (RBI) is planning to categorize home finance to the weaker sections under priority lending. A committee, headed by Mr. M. V. Nair, CMD, Union Bank of India, has been set up by the RBI to review various issues pertaining to priority sector lending. As stated by Mr. H. R. Khan, [...]

The HSBC in collaboration with MakeMyTrip, leading travel portal, has declared the launch of HSBC- MakeMyTrip Credit Card, a unique offering that does not limit customers to only air travel bookings with a particular airline but also gives a gamut of travel and shopping offerings with the facility of convenience and pay backs. Available in [...]

The slowdown in the home loan segment is continued in the quarter ended December 2011, however, lending institutions are expecting to see revival in the demand for housing loans in the current quarter and in the quarter ending June 2012. As stated by Mr. V.K Sharma, Director & Chief Executive, LIC Housing Finance (LICHF), “The [...]

Kotak Mahindra Bank has bought the non-performing credit card portfolio of Barclays Bank. The deal is expected to give a momentum to the sale of stressed loan market in India which has been facing a dry run following strict regulatory norms introduced in the year 2007.
The credit card portfolio acquired by Kotak is estimated to [...]

Kotak Mahindra Bank has opened its first branch in Thrissur district, Kerala. The bank has four more branches at the different locations of the state, including, Kochi, Kottayam, Thiruvananthapuram and Kozhikode.

The Reserve Bank of India (RBI) has dispensed with the rule under which banks were earlier required to get its approval for opening and maintaining vostro accounts by non- resident exchange houses for their every new client. Vostro can be defined as an account which is hold by one party for another. As stated in [...]

IDBI Mutual Fund’s new fund offer (NFO) IDBI Dynamic Bond Fund, that would generate income while maintaining liquidity on a minimum investment of Rs 5,000, will be open for subscription tomorrow. The scheme will make an investment in portfolio comprised of debt instruments such as government securities, PSU and corporate bonds and money market instruments. [...]