Entries with Topic News .

HDFC Bank to disburse loans in nano seconds

Sep 23, 2015 11:21:00 AM

 

HDFC Bank, India’s second-largest private lender, is gearing up to disburse loans in nano seconds. The bank's customers alone can avail of these loans, to be offered as a top-up on existing car/two-wheeler loans.

“The nano-second loan will be quick money for the customer. If you have a car financed by us, you get an offer that will flash on your cell phone. You...

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Housing finance companies tap ECB route for tapping cheaper funds.

Sep 12, 2015 10:50:00 AM

 

The external commercial borrowing market may have slowed down because of a slump in projects, but housing finance companies are increasingly looking to use this route for lowcost funds. "We are evaluating the option to raise $250 million Rs 1,662 crore) through ECB at Li(.bor plus 150-200 basis points," said Srinivas Acharya, managing director of Sundaram BNP Paribas Housing...

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What terming SBI, ICICI as ‘systemically important’ means.

Sep 2, 2015 11:37:00 AM

 

What is a systemically important bank?

Systemically important bank or a bank that is ‘too big to fail’ is one whose failure will have nationwide or worldwide repercussions. A bank failure is a scenario in which the bank or financial institution is unable to pay its depositors or fulfil its financial obligations.

So why were SBI and...

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HDFC Bank throws gauntlet, cuts base rate by 0.35%

Aug 31, 2015 5:44:00 PM

The country's second-largest private-sector lender, slashed its base rate -- the minimum rate at which it lends -- by 0.35 percent to 9.35 percent, effective tomorrow.

The move comes after the Reserve Bank of India cut its benchmark repo rate thrice this year (by a total 0.75 percent), and urged banks to follow through with cuts on their lending rates.

"The base rate is...

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ICICI Bank launches mortgage guarantee-backed home loan.

Aug 27, 2015 11:14:00 AM

 

ICICI Bank  launched the country's first mortgage guarantee-backed home loan that will allow consumers to increase borrowing by 5-20 per cent and the tenure up to 67 years of age.

Typically, banks do not allow home loan tenures beyond 60 years of age.

This is how it works. Assuming that based on your age, income and other eligibility criteria there is a...

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RBI grants in-principle nod to 11 Cos for payment banks.

Aug 21, 2015 11:52:00 AM

 

The Reserve Bank of India (RBI)  granted in-principle nod to 11 payment banks applicants. The RBI had received 41 applications for payments banks The central bank has approved applications of National Securities Depository Limited (NSDL), Reliance Industries , Aditya Birla Nuvo , Airtel M Commerce among others.A payment banks differs from conventional banks as it cannot...

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ICICI Bank Launches Smart Vault

Aug 18, 2015 12:42:00 PM

ICICI Bank launches 'Smart Vault', a first-of-its-kind locker facility by a bank in India with latest robotic technology.

The 'Smart Vault' uses robotic technology to access the lockers from the safe vault and enables customers to conveniently access their lockers at any time of their preference, in the comfort of a secure lounge where the locker automatically comes up to the...

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ICICI Bank Eyes Rural Market With Cheaper Home Loan

Aug 11, 2015 6:27:00 PM

ICICI Bank has launched a rural home loan scheme at its base rate of 9.70 per cent in a move that would help it meet the twin objectives of accessing cheaper funds from National Housing Bank and meeting priority sector lending target of the Reserve Bank of India (RBI). Christened as ICICI Bank saral rural housing loan, the scheme will offer a minimum amount of Rs 5 lakh and a maximum of Rs...

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Now PNB, IDBI Bank do it, cuts lending rate by 0.25%

May 7, 2015 4:28:00 PM

"The reduction in interest rate is expected to positively impact loan growth; both in the retail consumer segment, as also revitalise fixed capital formation through higher corporate sector lending, thereby supporting the growth impulses in the economy,"  IDBI Bank said.

Joining the rate cut spree, two public sector lenders, Punjab National Bank and IDBI Bank, today cut their...

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RBI eases valuation norms for home loans of up to Rs 10 lakh

Mar 31, 2015 7:02:00 PM

Finally, RBI has relaxed LTV norms for Loan Amounts up to Rs. 10 lakhs in the Housing domain. It has directed banks to add stamp duty, registration and other documentation charges to the cost of the house / dwelling unit for the purpose of calculating loan-to-value ratio.

These charges account for around 15 per cent of the cost of the house and banks normally exclude these for...

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Bajaj Introducing Interest-free EMIs for Online Purchases

Mar 31, 2015 7:12:00 PM

Online buyers will soon get a further boost, as NBFC s are introducing interest-free instalment plans for online buyers. The EMI option is likely to be offered in the next six months, like it is available now for buying from large brick-and-mortar stores.

Bajaj Finance is leading the initiative and is a developing a payment gateway to suit the transactions. The payment system will...

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Kotak Bank cuts base rate by 0.15 pc to 9.85 pc

Apr 18, 2015 12:12:00 PM

Private Sector lender Kotak Mahindra Bank joined its larger rivals and announced a 0.15 per cent cut in base rate to 9.85 per cent.

“We have reduced our base rate from the current level of 10 per cent to 9.85 per cent with effect from April 16,â€�Kotak Mahindra Bank (KMB), which recently merged smaller player ING...

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HDFC cuts home loan rates for women

Apr 27, 2015 10:28:00 AM
Mortgage major HDFC today offered home loans to women borrowers at 9.85 per cent, to make its loan pricing at par with that of rivals State Bank of India and ICICI Bank.The product, christened ‘Women Power’, offers the differentiated rate of interest for women borrowers, as against 9.90 percent charged for other borrowers, HDFC said. HDFC Managing Director Renu Sud Karnad said that it is...
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HDFC Bank offers 10-second loan nod

Apr 29, 2015 1:26:00 PM
Your loans will not only become cheaper, but will be disbursed faster, within seconds. In three weeks, HDFC Bank will offer personal loans disbursed in 10 seconds through net banking, as it expands market share and gears up for increased competition from non-banking finance companies (NBFCs). The offer is for existing customers of HDFC Bank, and will be available 24 hours a day. Customers will...
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Axis Bank to launch 'tap & pay' cards

May 16, 2015 9:33:00 PM
Close on the heels of State Bank of India, Axis Bank has said that it will start incorporating NFC technology in credit and debit cards and upgrade 50,000 point of sale terminals to enable acceptance of 'tap and pay'feature. Reacting to the Reserve Bank of India's move relaxing two-factor authentication norms for NFC based payments below Rs 2000, Jairam Sridharan, president, retail lending and...
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Private banks like ICICI Bank, HDFC Bank & Axis Bank selling off government bonds

May 22, 2015 12:58:00 PM
MUMBAI: It's not just foreign institutional investors ( FIIs) that have adopted a negative view on Indian sovereign paper, even some domestic banks appear to be seeking higher rates in the short-term amid turmoil in the global bond markets. Private sector lenders including ICICI Bank, HDFC Bank and Axis Bank have reportedly sold government bonds worth thousands of crores of rupees in the past...
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ICICI launches voice 'password' facility for users

May 29, 2015 10:22:00 AM
MUMBAI: Country's largest private lender ICICI Bank today said it has launched a service where customers can make transactions using just their voice, without using other means of authentication like a password.The voice recognition service authenticates customers based on their speech patterns and allows them to execute banking transactions through the bank's call centre, the bank said in a...
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RBI cuts repo rate by 25 bps in monetary policy review

Jun 2, 2015 2:20:00 PM

The Reserve Bank of India (RBI) cut interest rates for a third time this year on 2nd June 2015, taking advantage of subdued inflation to give more support to an economy that many economists doubt is doing as well as latest impressive growth numbers suggest.The RBI's quarter point reduction in the repo rate to 7.25 percent was predicted by 35 of 48 analysts polled by Reuters. Previous cuts,...

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Indiabulls Housing Finance launches Indiabulls Customer Connect

Jun 15, 2015 11:19:00 AM

Indiabulls Housing Finance has announced the launch of 'Indiabulls Customer Connect', an exclusive branch to address all service related enquiries of the customers.

Centrally located at Ground Floor, E- 28, South Ex II, New Delhi 110049, this branch will be a one stop solution shop for all consumer related issues for our Delhi & NCR customers. Through this...

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Mobile banking goes to rural India

Jun 15, 2015 11:22:00 AM

State-run Canara Bank's two sponsored regional rural banks (RRBs) in Kerala and Karnataka on Wednesday launched an immediate payment service through the National Payments Corporation of India (NPCI).

"The innovative facility will enable customers of Kerala Gramin Bank and Pragathi Krishna Gramin Bank to send and receive payments from their mobile handset round-the-clock and...

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