Punjab & Sind Bank has slashed its home loans and auto loans rates by 25-50 basis points and 25-75 basis points, respectively, w.e.f April 1, 2012. As stated by Mr. D P Singh, Chairman & Managing Director, Punjab & Sind Bank, “We have made drastic changes in terms of auto and home loans for benefitting [...]

Hongkong and Shanghai Banking Corporation (HSBC) has resumed its services of offering unsecured loan products to people after the gap of more than two years. While, the bank is providing personal loan to only those clients with whom it has banking relations, it is gaining new clients in the credit card space. In the credit [...]

Lakshmi Vilas Bank has made a downward revision of 25 basis points to 50 basis points in its domestic term deposit rates across different time slabs, w.e.f April 20, 2012. In case of deposits with a maturity period of 271 and 364 days, the bank has made a reduction in the rate by 25 basis [...]

ICICI Bank has cut its lending and deposit rates by 0.25 percent, following the Reserve Bank of India (RBI) decision to slash interest rates by 0.50 per cent. Now, the bank’s base rate is lowered by 25 basis points to 9.75 per cent, whereas, the prime lending rates also witnessed the fall to 18.50 per [...]

The Punjab National Bank (PNB) has reduced its lending rate by 0.25 per cent, a move which is likely to make home loan and corporate loan cheaper, with effect from May 1, 2012. As stated in the statement issued by PNB, “The bank has decided to lower the base rate by 25 basis points from [...]

The State Bank of Travancore (SBT) has lowered interest rates for domestic/NRO (non-resident ordinary) term deposits across different maturities, with effect from April 19, 2012. For 46-90 days, the deposit rate is lowered from 8.50 per cent to 7 per cent, for 91-179 days, it is reduced from 8.50 per cent to 7 per cent, [...]

Banks are gearing to lower their lending and deposit rates, a day after the Reserve Bank of India (RBI) has reduced the key policy rate by 50 basis points. The IDBI Bank has cut the base rate to 10.5 per cent and has also declared a reduction in the benchmark prime lending rate to 15 [...]

IDBI Bank has slashed interest rates on loans and fixed deposits (FDs), following the Reserve Bank of India (RBI) decision to cut repo rate by 50 basis points. While IDBI Bank has lowered lending rate by 0.25 per cent, it has reduced the fixed deposit rate by up to 0.5 per cent and loans linked [...]

The Reserve Bank of India (RBI) has cut repo rate by 50 basis points to 8 per cent that may make home, automobile and commercial loans cheaper. However, the central bank has made no changes in the cash reserve ratio, which will remain unchanged at 4.74 per cent. The apex bank had increased rates 13 [...]

The Finance Ministry has allowed banks to use ATM screens for advertising. The government has permitted to advertise either their own financial products and services or those of mutual funds, insurance companies, broking firms and pension funds on screens of ATM. Banks will be allowed to show the advertisement during the time when the person [...]