Housing loan banks like HDFC and LIC Housing Finance are probable to see a noticeable growth in their profitability as dual-rate home loans come up for re-pricing at higher rates this financial year. Read More….
State Bank of India has not observe any noticeable default on teaser rate loans (offered since 2009) despite the concern raised by the Reserve Bank of India and by its chairman Pratip Chaudhuri, even as a lot of such loans have matured and moved into regular loans. Read More….
State Bank of India and Yatra.com well known online travel portal, has launched a holiday-cum-shopping card that will enable Indian travelers to avail discounts across travel and holiday packages. Read More….
State Bank of India will permit home loan borrowers to shift to lower interest rates. The move is aimed at strengthening customer bondage and can also lead to gains for millions with mortgages if rivals match the gesture. Read More….
The RBI has acted swiftly in cutting the cash reserve ratio (cash that banks have to keep with the RBI) from 5.5 % to 4.75 % to prevent a crisis in banks. They had been borrowing heavily from the RBI facility Read More….