Until the Reserve Bank of India change the signals in its policy stance and liquidity conditions show a progress, state-run Corporation Bank will hold its sub-PLR lending to corporates.

Sub-PLR loans are the loans extended to some of the top corporates below the prime lending rate (PLR) with a view to encourage more low-risk borrowings.

The tight liquidity conditions have prompted the bank to take such a move along with protecting the margins in a high...

The on-going festive is likely to see increased activity in the home loan segment. Even though property sales have been declining, real sector developers across the country are launching new suburban apartments to attract home buyers who had postponed their purchase. People will now run towards the banks to avail home loans in order to buy these flats.

The interest rate hikes and an increase in the amount of EMIs have seen more than 40%...

Your dream house now within your reach!

Real estate developers, The Promoters and Builders Association of Pune (PBAP) have taken a move to reach out to the flat buyers by launching a new scheme whereby a certain burden of interest rates for the first 24 months will be borne by the developers.

The providers have tied up with the largest private lender, ICICI Bank to extend home loans at interest rates of 10%, valid for 24...

So what if the interest rates are rising and the economy is suffering from liquidity; banks have not stepped back from lending to real estate companies. In fact the public sector banks have left behind the private banks in this aspect. The growth in advances to the real estate sector by public sector banks in comparison to the private banks was considerably higher during 2007-08 as compared to 2006-07.

Growth in advances by 27 public sector...

India's public sector bank employees will go on a two-day strike from Wednesday after talks between United Forum of Bank Unions (UFBU) and Indian Banks Association in the presence of Chief Labour Commissioner S K Mukhopadhyaya in Delhi failed.

United Forum of Bank Unions Convenor C H Venkatachalam said, "Talks with the Chief Labour Commissioner have failed and we are proceeding with the strike."

Rupeetimes had covered the call for strike and finance minister Chidambaram's appeal...

The country's 6th largest bank, Bank of Baroda is all set to spread its banking operations in New Zealand, initially with a branch in Auckland.

The Bank of Baroda had sent an application to RBI and the banking regulator refused to disclose anything beyond this. The bank is expected to function as a subsidiary company in New Zealand and offer a wide range of banking services. It is understood that the subsidiary will be governed...

Private sector lender Kotak Mahindra Bank(KMB) has increased the interest rate on its term deposits in the general category to 10.35% per annum.

Term deposit is an amount deposited with a banking institution that cannot be withdrawn for a certain "term" or period of time.

Speaking on the decision, KVS Manian, Group Head - Retail Liabilities and Branch Banking, Kotak Mahindra Bank said, "I am confident that that this significant hike in interest rates would hugely...

In this era of cut throat competition, where banks are introducing new schemes day after day, the insurance companies are not left behind. Private sector insurance companies have come up with innovative scheme where one can have a security of repayment of a loan if the borrower expires suddenly.

People do not prefer to take a home loan because of the risks associated with it. They are more worried about the uncertainties of life that holds...

Bank unions are planning to go on a strike soon. Again the union has decided for a two-day nationwide strike on September 24th and 25th to protest against the merger among public sector banks, their privatization and in support of their demands.

The decision was taken at a United Forum of Bank Unions' (UFBU) meeting in Chennai.

"We would be observing a two-day nationwide strike on September 24 and 25. Employees from all public sector banks will...

The ICICI Lombard has decided to expand its insurance scheme 'Nirmaya', designed for the welfare of persons with autism, cerebral palsy, mental retardation and multiple disabilities.

The scheme, implemented by ICICI Lombard with Chennai-based Alegion Insurance and Broking Company as nodal agency, provides for services ranging from routine medical check up to hospitalization, therapy to corrective surgery and transportation. Medical screening is not insisted for enrolment and production of disability certificate is enough.

Smart/biometric cards provided to...

French banking major, Societe Generale's (SocGen) proposed joint venture with State Bank of India (SBI) for operating custodial and depository services in India has received its approval from the Foreign Investment Promotion Board (FIPB) on September 4, 2008.

The approval of the FIPB is an important step in launching this new entity which targets to provide high-quality securities to domestic and foreign investors in India. Initially, FIBP had kept this proposal on hold due to objections...

Tuesday wasn't a very pleasant day for most of the HDFC Bank customers across India. A technical snag in one of the system applications crippled the retail services of the bank including Net Banking and ATMs. They heaved a sigh of relief when operations resumed to normal today.

The technical glitch particularly hurt those with corporate salary accounts. Many people complained that their pay hadn't been credited into their accounts.

Long queues formed outside ATMs leaving stunned...

Kalpana Morparia, the high profile banking official who had been serving ICICI Bank for the past 33 years has resigned to join J.P.Morgan. She has been appointed the Chief Executive Officer of the firm's Indian operations.

Ms. Morparia, who started her career with ICICI Ltd in 1975 in their legal department was seen as the legal brain behind various deals and structures, which led to the creation of the present ICICI Bank. These included the acquisition...

Worried about your tax returns? Want a home loan but confused about its impact on your tax returns? Confused about the ideas of tax rebates?

Don’t worry! The answers to these questions lie in the Income Tax Act of India!

Tax rebate is an amount that reduces the tax to be paid by the full amount of the rebate. Tax rebates treat all taxpayers equally by giving the same amount of rebate regardless of income...

Are you troubled about the high floating rates on your home loans, inspite of being regular with your EMIs?

Ever wished you could shift to another lender?

Yes! That is possible! If you have taken home loans and feel are paying much more than you should be, then you can shift to another lender. However, this is not as easy as it sounds. If you are regular with your repayments, then you can consider the...

Have you ever wondered how a bank decides how much amount to lend to you?

Ever wondered why is there a different cap on different loans?

Credit appraisal is the step which decides everything. Credit Appraisal is the process by which a lender appraises the creditworthiness of the prospective borrower. It is a very important step in determining the eligibility of a loan borrower for a loan. Every potential borrower has to go through the...

A boom in the retail sector has seen an immense increase in the home loan interest rates over the past 4 years. Home loan rates have doubled over the past 4 years. The present problem of inflation has also had a negative effect on the consumers as the fixed and the floating rate of interests have soared to an alarming degree. This in turn has certainly affected the loan eligibility for home loans in India....

Buying your own home might be one of the foremost dreams you might have. But, what has been the effect of the hike in the home loan interest rates on you? What should you do? Will the interest rates on the home loans ever come down?

Since 2004, India has been in a booming economy. The retail and housing sector has seen the most of these good times. The property rates and demand for houses...

The last few years have seen a rise in the income of the people. As a result of this, many people have moved up on the income ladder. With the increase in income, there has been seen an increase in demand. One of the core necessities of human beings is a house of their own. The increase in the demand for houses, flats and properties has lead to an altogether new dimension. Just like a...

A person generally buys his/her dream home only once in their lifetime. These days, most of the people buying their house, do that with the help of a home loan. However, what are the important characteristics of a home loan?

The answer to this question brings us to two very key terms: interest rates and home loan tenure. Generally, the home loan tenure isn’t given as much importance as the interest rate, or even the...