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Retail Loans in India: Facts and Reviews
Though, relatively new to blogging, Neelima was quick to find out the powers of the online medium to spread her expertise on retail loans in India. A graduate in journalism, Neelima keeps track of the latest developments in retail loans in India on her blog on rupeetimes.com.
By Neelima Shankar

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Thursday, December 5
Now, ATM's will permit you to speak to your banker through videoconferencing

With the help of the new ATM machines which is yet to be revealed by NCR Corporation India, Bank account holders can speak to executive of the bank with the help of videoconferencing through the ATM's. Notwithstanding videoconferencing, the machine permits the bank official to remotely handle transactions giving a large portion of the bank branch purpose to the ATM.

The machine can acknowledge coin notes of distinctive divisions filter them for fakes and...

Posted 10:36:59 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, December 4
1% reduction on FD interest rates by Canara Bank

On certain maturities on fixed deposits, Canara Bank which is owned by stated has reduced the rates of fixed deposits by one percent.

In a statement issued by Canara Bank, they stated that for deposits which mature between 61-90 days, the interest rate has dropped from 8.75 percent to 7.75 percent. A drop of 1 percent for fixed deposits which mature between 91-120 days; it would be 8.50 percent, a drop of 0.5...

Posted 10:55:07 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, December 4
Tax benefits on fixed maturity plans in comparison to fixed deposits

In India, one of the most popular forms of investment it the Fixed Deposits (FD) facility provided by banks. The main reason why it is so popular is because you can be sure that you will get guaranteed returns from your fixed deposit. For example, If you opt to make an FD of Rs.10,000, with an interest rate of 10% for a year, then on maturity of the FD, you will at least get from...

Posted 10:22:22 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 3
Banks instructed by Government to either shut down the ATM's or provide security

The attack which happened in Karnataka on a woman at an ATM which was unguarded, the state government has strictly informed the banks that either security should be provided at the ATM's or they would need to shut it down.

In order to reduce such incidents, K J George, the home minister, held a meeting which was high level. He stated that currently out of 2,580 ATMs which is in the city, there are more...

Posted 10:29:17 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 3
Opening of SBI's first NRI branch in odhisa

On Saturday, the first State Bank of India (SBI), Non Resident India (NRI) branch was open at Ganga Nagar in Odisha. Talking on the event, the Chief Secretary trusted that the NRI branch will serve the long felt need of nearby NRI's and the individuals of the state when all is said in done. He likewise gave pass books to the few recently opened records of NRI clients and NRI lodging credit clients.

Trivadi...

Posted 10:19:57 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 2
More insurance choices offered by banks

In order to enhance the insurance penetration, banks are now working as brokers for various insurance companies and are providing their customers with more choices. On Friday, the Reserve Bank of India (RBI) issued the guidelines which were awaited by the banks in regards to them acting as insurance brokers, in comparison to the guidelines which had been issued earlier by the Insurance Regulatory and Development Authority (IRDA).

Presently, the banks are only allowed...

Posted 10:36:41 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 2
Banks to provide interest rates at shorter interval: RBI

Reserve bank of India instructed banks to provide the customers with the interest at a shorter period. Now the customers will het the interest rates on savings accounts, fixed deposits at a time less than 3 months.

As per the earlier guidelines banks were supposed to pay the interest at a time period of 3 months or greater than this. But now the customers can avail the interest rates on savings at term deposits...

Posted 10:33:14 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 2
34 LIC policies to be discontinued by December 31

Life Insurance Corporation, giant in the Indian insurance sector has made a decision to discontinue selling around 34 policies, in order to comply with the recent regulatory guidelines. This will also include Jeevan Saral, Jeevan Madhur and Jeevan Anand. As of December 7th, Jeevan Amrit will be out of the market. On December 14, the withdrawal of Jeevan Surbhi as well as on December 21 and December 28 there will be two other schemes...

Posted 10:26:13 AM Complete Story | Post Comment | Read Comments(0)

Friday, November 29
Crore made from small depositors by Nidhi firms

After the Saradha plunder, an alternate risk is prowling in the currency market holding up to eat up little investors. Numerous firms acting like "banks" are putting forth premium rates higher than that of banks on fixed deposits, when the Reserve Bank has issued no managing an account license in the most recent 10 years. One such "bank" has even set up bulletins over the city welcoming deposits. It offers loans against mortgages.

As per...

Posted 10:19:49 AM Complete Story | Post Comment | Read Comments(0)

Friday, November 29
Rise in number of people applying for education loan

State level banker’s committee (SLBC) secretariat reported that a significant raise in people applying for education loan is noticed. It is expected that SLBC will excel with greater number of education loans this year. Last year SLBC sanctioned 8,872 student loans worth Rs 361 crore, and this fiscal year it will be more than this. Though there is a rise in education loan but much is needed to be done to aware people regarding...

Posted 10:16:25 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 28
Increase by 40% on premiums for insurance of motors

Premium rates for motor insurance third part companies are prone to go up no less than 40 per cent as the controller has steeply climbed the money general insurance agencies need to set aside for gathering the high asserts in this line of business. As per T. S. Vijayan, Chairman of IRDA, the steep climb was proposed by an actuarial council for the declined danger pool

As of now, the measure of the declined...

Posted 10:39:35 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 28
Liberty requested by Local Banks towards mobility of deposits

In order to receive deposits from temple trusts and companies, the Reserve Bank was asked by the local banks to put them under the 'scheduled banks' category. Scheduled banks are generally preferred by temple trusts and company to place deposits. In the country, there are four LABs, they are Subhadra which is Kolhapur based, Krishna Bhima Samruddhi based in Mahabubnagar, Costal and the country's largest LAB, Capital which is based in Jalandhar.

LABs provide finance...

Posted 10:30:31 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, November 27
One day strike going to observed on December 19 by bank unions

As per a statement made on Monday by the All India Bank Officers Federation, On December 19, Bank representatives, incorporating officers, will watch a day long strike to press for different requests, for example wage modification.

General Secretary of The Associate Bank Officers Association, and Deputy General Secretary of the All India Bank Officers Federation, Deputy General Secretary, unit State Bank of Patiala's Pramod Sharma expressed " As per a decision made by the...

Posted 10:25:14 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, November 27
Executive of SBI asked to go on leave during probe of bribery case

Shyamal Acharya, one of the bank's deputy managing director of State Bank of India has been asked to take leave due to the current investigation going on a bribery case which is being investigated by the CBI.

As per a statement made by The Central Bureau of Investigation (CBI) on Monday, they stated that they have received documents which are incriminating during the searches made. The documents have been sent for further investigation. SBI...

Posted 10:04:50 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 26
Mobile banking system to be launched by the Govt. in rural areas

In an offer to give doorstep banking facilities in rustic territories, the State Government has chosen to present versatile managing an account administration in 20 pieces of 10 tribal commanded regions of the State. The agriculturists in remote territories face a ton of issues in enjoying the banking facilities when they need to trek miles just to either store their cash or withdraw the endorsed advances.

Furthermore, the framework will provide facilities of maturity...

Posted 11:08:59 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 26
Investment in floating rates deposits

A few years back, fixed deposits (FDS) were presented by some public sector (PSU) banks with floating premium rates on the guidance of the minister of finance. In spite of the fact that there were relatively few takers around then, its presently that the investors engage for these items has begun going up.

This is due to the bounce in the investment rate structure in the later past because of the RBI's rupee stabilization endeavors....

Posted 11:06:33 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 26
Unclaimed amounts of Rs 3,652 in bank accounts

Across the nation in banks, there is more than Rs.3,6000 crore which is still unclaimed in the provisional areas. As per the bank's data which was released by the banks on Thursday, the reason why there are unclaimed funds which can be seen as per a record as on December 2012, of more than 1.33 crore bank accounts which have not been operated.

Until December 2012, there has been an overall accrued interest of approximately...

Posted 10:56:56 AM Complete Story | Post Comment | Read Comments(0)

Monday, November 25
DBS bank to launch more banking branch in India.

To enhance and expand the banking, India should start up its banking sector to foreign banks, and try to tap the power of foreign banks. Piyush Gupta, chief executive of Singapore's DBS Group Holdings said that this will help the banking sector to overcome the capital shortfall.

Further he announced that, once the restrictions over establishing branches will be eliminated, DBS the fourth largest foreign bank in India with 12 branches and 37 ATMs,...

Posted 10:58:45 AM Complete Story | Post Comment | Read Comments(0)

Monday, November 25
New financial products in the look out by SBI chief

With moneylenders encountering push on their infra advance books, the head of nation's biggest bank SBI has called for a need to acquaint new items with account the long-development undertakings, incorporating refinancing the advances every five years. Monetary development is at around half the potential while the undertakings are not going ahead stream because of a group of issues with clearances and the awkwardness of the promoters, she said.

It might be noted...

Posted 10:37:56 AM Complete Story | Post Comment | Read Comments(0)

Friday, November 22
Lok Adalat to monitor loan related issues of banks

After a troubled period in the bank loan sectors, now the Nation Legal Service authority has decided to set up Lok Adalat in different districts of India. The aim of these legal services providing association is to help the banks in the recovery of loan payments and the dishonour of the cheque payment issues.

This court has set up by following the directives of the Legal Service Authorities Act of 1987.Now they will find out...

Posted 10:44:08 AM Complete Story | Post Comment | Read Comments(1)

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