India Banking News

Ujjivan, one of India’s leading urban poor-focused microfinance institutions, raised USD 25.5 Million equity funding. Two new FIIs, FMO (Netherlands Development Finance Company) and Wolfensohn Capital Partners, and existing investors participated.

Godrej Properties Ltd, the real estate development arm of the Godrej Group and ICICI Bank, India‟s largest private sector bank, signed a Memorandum of Understanding (MOU) on extending their projects and financial services to customers in

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ISO 27001 (ISO/IEC 27001) is a global security standard that sets out requirements for an Information Security Management System.

Bangalore-based, iCreate Software announces that its reporting solution BizScore enables banks comply with RBI’s Automated Data Flow guidelines.

Credit-card issuers are increasingly turning into financial counsellors. Come January quarter, SBI Cards, a standalone credit-card company co-promoted by India's largest state-owned bank, plans to launch ‘customised statements'

G.R.K.Reddy of Marg Group, Nirmal Jain of IIFL, Dr Kannan Vishwanath of Aanjaneya Lifecare , Rajan Anandan ,of Google India are in the race for coveted Business Leader of the Year 2012

The banking sector, reeling under a rise in non-performing assets (NPAs) from the corporate sector, is seeking to hedge loans to individual borrowers. Increasingly, borrowers are being asked to buy insurance policies to cover their loans.

This may soon be true for postpaid connection users. The next time you delay or not pay your phone bill you may have to deal with more than just a call from your service provider reminding you about the dues.

Ujjivan, one of India’s leading urban poor-focused microfinance institutions, raised USD 25.5 Million equity funding. Two new FIIs, FMO (Netherlands Development Finance Company) and Wolfensohn Capital Partners, and existing investors participated.

The Coimbatore realty market's growth momentum is next only to that of Chennai and Hyderabad in the South, and ahead of other tier-two cities in the region, according to a senior executive of HDFC Ltd, the market leader in home loan lending.

RBI, has slashed the cash reserve ratio (CRR or a portion of deposits banks have to keep with the RBI) by 0.5 per cent to 5.5 per cent, signaling the reversal of the rate hike cycle after nearly two years, and to give a push to growth.

HDFC Bank, the second-biggest private lender, reported a 31% jump in quarterly earnings aided by profits from treasury operations and higher lending for automobile purchases and personal loans.

Netscribes (India) Pvt. Ltd. launches Life Insurance Market in China 2012 report covering a market with strong growth potential. The report is part of Netscribes’ Financial Services Industry Series.

LIC housing finance loans schemes features initiated by the LIC have a lot of benefits as well as the advantages to the loan borrowers. It is suitable loan scheme for low and middle class people of India to have their own home,

NRIs too can avail home loans for purchase of residential properties. NRI’s can purchase a house and even take a loan for self-construction on a plot and also for renovation/improvement of an existing residential property in India.

what the central bank might do to rates shortly, and pat comes his considered response about repo rates. And about what the BoI will likely do in response. In an interview, he holds forth on the bank’s future plans and the path ahead

SBI has cut processing fees on home loans by half, a move expected at acquire a bigger tart in the home loan market and giving competition to private banks and housing finance companies.

Sen said he expected India's central bank to announce "some policy measures" in coming months that would help boost economic growth and kick-start demand for cars. "The current quarter and the next fiscal year should be better," SIAM senior

HDFC has extended its special home loan scheme till January 31 on Monday. The extension comes as demand for home loans remains declining in spite of the discounts and festival season offering given out by various lenders over the past few months.

The Institute of Chartered Accountants of India have adjudged Shriram Transport Finance Corporation Ltd. as the winner under the Category V-Financial Services Sector (other than Banking and Insurance) of the ‘ICAI Awards for Financial Reporting’.

State Bank of India has cancelled a proposed merchant acquiring business joint venture with US-based Elavon Incorporation and Visa International.

Year-end discounts saw car sales end 2011 on a modest note as most of the companies, except for market leader Maruti Suzuki, saw numbers go up in December.

Cars makers offered healthy discounts on passenger cars ranging from Rs. 60,000 to Rs. 70,000 in the last month of 2011 to pull maximum buyers.

There were days when one used to buy a home only with your savings.In these days most homes are bought with the help of Housing loans. Banks whether they are public sector or private sector, do lend in this segment.

In year 2011, RBI kept increasing rates till Nov and just by the year end, they gave signals that rates may come down. So in year 2012, here is what we expect in the loans market.

Festive offers on loans are continue for the next couple of months. PSU banks offering housing and auto loans at discounted rates under their festival campaigns that began in September, have decided to extend the discounts beyond December 31.

EastWest Bank, one of the fastest-growing banks in the country today, announced the selection of iCreate's BI and Analytics solution - Biz$core, as the main platform to manage its dynamic and evolving information needs.

Lending by Indian banks to the housing sector increased by 14% to Rs369,900 crore at the end of October 2011 from Rs324,748 crore at the end of 2010. It had risen by 12% in October 2010 over the previous year, according to data from the RBI.

Acquiring a personal loan is intended for financing is intended for financing and managing a person’s financial needs. For taking finance, a person may apply for a loan or a credit card to purchase shares or any asset like home, vehicle etc.

The government has quadrupled the limits on loans that a bank's internal committee can approve, a move that could quicken credit clearance at 26 state-run banks, including the Bank of Baroda and PNB.

Pledging gold has traditionally been glower upon. Only those in terrible need would go to the moneylender or the local jeweller, get stiff terms for the loan, and yet have no other choice but to settle for it. Socially, vow gold signified

Drug firm Taj Pharmaceuticals Group India today announced tentative approval for Nitroglycerin, USP Tablets Oral tablets: 0.3 mg, 0.4 mg, 0.6 mg from US Food and Drug Administration

Barclays Finance India, plans to close the majority of its branches here, as part of the lender's plan to scale down retail operations in the country. The number of branches would be reduced to a 'single digit' from around the current 30.

Floating rate home loans, which did not reflect market rates when they fell, would now become more faithful to their name. With all major lenders discontinuing prepayment charges on floating rate loans, including those refinance

You don’t need to provide documents and collateral for to up loans. The tenure of a top up loan can be as long as the outstanding tenure of the home loan. This will help you to reduce your overall cash outflow.

The rapidity of expansion in home loans is on the decline after for a short time gaining momentum in mid-2011. High interest rates on housing loans are indeed larceny home buyers, forcing them to postpone investment decisions.

ICICI Bank and American Express launched a platinum credit card christened as Rubyx in partnership, a company engaged in the credit card and travel services and MasterCard, the payment gateway provider.

Everyone has their own reason for refinancing, but usually to save money or take cash out. Refinancing your home loans can be an excellent way to manage your debt load, reduce stress and save yourself a lot of money.

At a time when interest rates on home loans are hovering around 11-14 per cent, realty firm BPTP has ties-up with HDFC to finance new purchases of houses at just 5.99 per cent for a limited period till December 31.

Most of the major banks discontinuing prepayment charges on floating rate loans, including those refinance , banks say that floating rates will now indeed float.

We were apprehensive, but it hasn't come down as much as we had thought. The loan growth for housing finance companies was 18percent in the first quarter, as opposed to 19percent in the corresponding quarter last year.

Personal loan come in range of 14-28% and most consumers confuse what will get them loan at the lowest rate. So lets tell you how does bank define such pricing which is in such a bring range.

By 2016 the global money remittance market is expected to grow at CAGR 6.44% (2011-2016) reflecting a slow growth compared to CAGR 8.04% in 2006-2011.

In 2010, value of total banknotes in circulation grew at a rate 4.13% from previous year. Euro coins in circulation has increased by 6.20%

Deal4loans.com the online portal under the company Wrs Info has touched loan disbursals of 175 crs of loans through its network of Banks in the month of Nov. From last year they have grown from 100 crs to 175 crs.

Major loan providers for homes like State bank of India, ICICI bank, Axis bank waived off prepayments charges or penalties on home loans. Housing finance companies not charges pre payment penalties on floating rate loans.

“In deference to the Reserve Bank of India’s suggestions, the bank has decided to waive penalty on pre-payment of all floating rate housing loans irrespective of the source of funds of the borrowers,” Central Bank of India said in a statement.

LIC Housing Finance Ltd will roll out a completely fixed interest rate home loan product next month, according to Mr V. K. Sharma, the company's Director and Chief Executive.

Godrej Properties Ltd, the real estate development arm of the Godrej Group and ICICI Bank, India‟s largest private sector bank, signed a Memorandum of Understanding (MOU) on extending their projects and financial services to customers in

The third largest private lender Axis Bank today said it is working towards taking its retail loan-book to 30 per cent of the total assets over the next three to four years, as it sees the retail loan segment as a large market.

The unyielding attack on interest rates in a bid to rein in runaway prices is elastic results: the demand for vehicle loans has come down. The growth rate of Car loan volumes have almost halved so far in 2011-12 compared to

Fixed-rate home loans are the flavour of the season. Last week, HSBC India launched a fixed-rate home loan and loan against property product. Prior to this, Axis Bank home loan had launched in October 2011.

Customers must spot lapses before credit bureau, bank can take corrective steps. For customers who want to know their individual credit rating scores, buying a credit information bureau’s (CIB) report will take just a few minutes.

Axis Bank, India’s third largest private sector bank is looking to grow its retail lending to 30% of its total lending in next three years with a focus on home loans, car loans and cards business in smaller cities.