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 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 [...]

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 [...]

ICICI Bank has launched a platinum credit card, christened as Rubyx, in partnership with American Express. As stated in the statement issued by ICICI Bank Express and MasterCard, “Card members will get two cards – the credit card and the ICICI Bank Rubyx MasterCard Platinum Chip Credit Card.  Cards, which are linked to a single [...]

Private lender IDBI Bank in association with the MasterCard has introduced a new prepaid travel credit card ‘IDBI Bank Global Currency Card’. The card will come under the platform of a MasterCard and it can be availed by the people in eight currencies like U.S. dollars, euros, pounds, Singapore, Australian and Canadian Dollars, and Japanese [...]

HDFC Bank, a private sector lender, has introduced a premium credit card, solely for women, namely ‘Solitaire Premium’ and ‘Solitaire’. These plastic cards will provide incomparable and beneficial lifestyle offers to the women. The main target of the bank is to disburse at least 2 million Solitaire cards to the women all across the country.
Both [...]

The Reserve Bank of India (RBI) has announced that from next fiscal year beginning from April 1, 2012, the payment against cheques, drafts, pay orders and banker’s cheques will only be valid for 3 months from the present 6 months.
RBI has taken this step in order to tame the misuse of these instruments and check [...]

The total number of the active credit cards in India has constantly plunged from 2.75 crore as on March 2008 to 1.76 crore in September 2011, according to the data issued by the Reserve Bank of India (RBI).
There has been a significant rise in the cases where the credit cards have been blocked or withdrawn [...]

State Bank of Bikaner and Jaipur (SBBJ) has increased its lending rates by 50 basis points, w.e.f November 14, 2011. After the revision, the bank’s base rate will be 10.50 per cent and benchmark prime lending rate (BPLR) will be 15.25 per cent.

The HCBL Co-operative Bank Limited has adopted a village ‘Chota Bharwara’, situated in Uttar Pradesh state, as part of its financial inclusion. It is a government driven program which aims towards offering banking services to far-flung areas of the nation. As stated by Mr. Pawan Kapoor, CEO, HCBL Bank, “HCBL Bank has adopted Bharwara village, [...]