SBI awaits RBI clarity on new fund cost calculation
Apr 15, 2015 at 18:54 | Source:
strong>Mumbai: The nation's largest lender SBI today said it is awaiting clarity on fixing lending rates on the marginal cost of funds as suggested by the Reserve Bank for better transmission of monetary policy."We are waiting for further gui...
ICICI Bank, Axis, NBFCs cut home loan rate by up to 0.25%
Apr 15, 2015 at 08:20 | Source:
New Delhi - Joining the rate-cut war, ICICI Bank, Axis Bank and two mortgage lenders yesterday slashed home loan rate by up to 0.25 percent.DHFL lowered its home loan rate by 0.25 percent, while Indiabulls Housing Finance reduced home loan rate by 0....
ICICI Bank joins bandwagon, cuts home loan rate by 0.25%
Apr 14, 2015 at 15:28 | Source:
New Delhi: ICICI Bank today slashed home loan rate for both existing as well as new borrowers by 0.25 percent joining a rate cut war initiated by its bigger rivals HDFC Ltd and SBI.Women borrowers and financially weaker sections will now get home loa...
Tax benefits in retirement plans fire up mutual funds
Apr 13, 2015 at 16:35 | Source:
New Delhi: Encouraged by tax incentives for investment in retirement schemes floated by mutual funds, several fund houses, including IDBI MF and Birla Sun Life MF, have lined up plans to launch such products. Apart from IDBI MF and Birla Sun Life MF,...
SBI, HDFC rate war is tokenism; customers unlikely to benefit hugely
Apr 13, 2015 at 11:50 | Source:
India's top home loan lenders are engaged in a rate war and it is a joke of a rate war.State Bank of India, the country's largest lender, yesterday announced a cut in home loan interest rate by up to 0.25% for new borrowers. The aim was to match its ...
Bank in distress too will get capital support from govt: Rajan
Apr 09, 2015 at 22:52 | Source:
New Delhi: Reserve Bank Governor Raghuram Rajan today said that banks in distress will get capital support from the government if they make a clear case for recapitalisation.The government has changed the criteria for infusion of capital in the publi...
Cheaper EMI? Why all the hullabaloo around bank rate cuts is a bad joke
Apr 08, 2015 at 16:36 | Source:
In the press conference that followed yesterday's monetary policy, Raghuram Rajan, the governor of the Reserve Bank of India (RBI), said: "Banks are sitting on money and their marginal cost of funding (has) fallen, the notion that it hasn't fall...
Banks being too stingy? ICICI, SBI, HDFC Bank finally cut lending rates
Apr 08, 2015 at 11:20 | Source:
Three big lenders ICICI Bank, State Bank of India (SBI) and HDFC Bank were quick to reduce their lending rates by up to 25 basis points (bps) on Tuesday evening, after the Reserve Bank of India (RBI) chose to hold the key rates steady in its bi-mon...
Cheer for borrowers: SBI, ICICI, HDFC Bank cut rates, EMIs set to fall
Apr 07, 2015 at 21:54 | Source:
Mumbai: Country's biggest bank SBI and private sector lenders ICICI and HDFC Bank late evening today cut their base rates by 0.15-0.25 percentage points, a move that could bring relief to corporate and retail borrowers.This is probably the first rate...
After RBI's disappointment, SBI cuts lending rate by 15 bps to 9.85%
Apr 07, 2015 at 19:36 | Source:
Mumbai: Nudged by RBI, country's biggest bank SBI today cut base lending rate by 0.15 percentage point to 9.85 percent, becoming the first major lender to ease the rate in many months.The new rate is effective 10 April. SBI chairman Arundhanti Bhatta...
RBI puts pressure on banks to lower lending rates
Apr 07, 2015 at 17:33 | Source:
Mumbai: The Reserve Bank of India (RBI) proposed on Tuesday that banks should decide lending rates based on their marginal cost of funding, hoping the shift will persuade them to lower lending rates faster in response to central bank easing measures....
SBI bats for more women directors on its board
Apr 02, 2015 at 20:53 | Source:
Mumbai: Pitching for greater gender diversity on its board, state-run banking giant SBI's chairperson Arundhati Bhattacharya today said the bank wants some more women directors and has already suggested a few names to the government.This comes in sha...
Sensex logs best fiscal year gain since 2009-10
Mar 31, 2015 at 19:19 | Source:
Mumbai: Registering a hefty rise of 25 percent in 2014-15, benchmark Sensex today capped its best show in six fiscal years mainly driven by surge in foreign inflows after the Narendra Modi-led government took charge.For the day, however, the BSE Sens...
SBI gets approval to divest 10% stake in SBI Life Insurance
Mar 31, 2015 at 11:16 | Source:
State Bank of India, the country's largest lender, said on Tuesday it had received approval for divestment of its stake in private life insurer SBI Life Insurance Co Ltd by up to 10 per cent.The executive committee of the central board of the bank au...