Bank

Net bad loans of 40 banks soar by 38 per cent in April-Sept

The net bad assets of the 40 listed banks have jumped 38 per cent to Rs 1,28,533 crore during the first half of this financial year, from Rs 93,109 crore at the end of the last financial year. According to a study by NPAsource.com, of the total 40 listed banks, 14 banks have reported more than 50 per cent jump ... Read More »

Canara Bank hikes fixed deposit rates by 0.50 per cent

Taking cue from other lenders, state-run Canara Bank has hiked interest rates on fixed deposits by up to 0.50 per cent. Fixed deposits in the maturity bracket of 46 days to 60 days and 61 days to 90 days would now fetch interest rates of 7.50 per cent, up from 7 per cent earlier, effective Friday, the bank said in ... Read More »

Punjab National Bank raises fixed deposit rates by up to 0.50 per cent

PHOTO: Reuters Punjab National Bank has hiked interest rates on select maturities by up to 0.50 per cent effective from November 11. In a filing to the Bombay Stock Exchange, the state-owned bank said fixed deposits for less than Rs 1 crore between 271 days to less than one year would yield interest rate of 8 per cent, up from ... Read More »

OBC raises fixed deposit rates by up to 0.5 pc

State-owned Oriental Bank of Commerce (OBC) on friday raised fixed deposits rate on select maturities by up to 0.5 per cent. Term deposit with maturity 91-179 days would earn 0.25 per cent higher interest rate at 8.75 per cent, OBC said in a statement. With the revision, term deposit between 180 days to 1 year would earn 9 per cent ... Read More »

Working Out EMI

Suraj Dutt, 29, a New Delhi-based store manager, bought a car in 2010 worth Rs 5.95 lakh. He made a down payment of Rs 1.5 lakh and took an auto loan for the rest of the amount at 12% interest per annum for four years. At present, he is paying an equated monthly instalment, or EMI, of Rs 11,700 per ... Read More »

SBI raises fixed deposit rate by 0.2 pc on select maturity

Days after Reserve Bank of India hiked short-term lending (repo) rate by 0.25 per cent, State Bank of India (SBI) on Thursday raised fixed deposit rate by 0.2 per cent on select maturity. With the revision, term deposit between 180-210 days less than Rs 1 crore would now earn 7 per cent against existing 6.80 per cent, SBI said in ... Read More »

RBI allows banks to pay interest at shorter intervals

Savings bank account and term deposit holders can now earn interest at shorter intervals, with the Reserve Bank of India (RBI) allowing banks to revise theperiodicity of interest payments. At present, banks are required to pay interest on savings and term deposits at quarterly or longer intervals. “As all commercial banks are now on core banking platforms, it has been ... Read More »

RBI surprises everyone, keeps repo rate unchanged at 7.75 per cent

Reserve Bank of India (RBI) surprised everyone by keeping rates unchanged on Wednesday in the mid-quarter review of the monetary policy despite high inflation levels citing the prospect of easing retail prices and its concerns about the weak domestic economy. Highlights of RBI policy review -RBI keeps key policy rate, cash reserve ratio unchanged -Repo rate unchanged at 7.75 pc; ... Read More »

RBI may hike rates as inflation control remains priority

Reserve Bank of India (RBI) Governor Raghuram Rajan is likely to hike the key policy interest rate by at least 0.25 per cent in the mid-quarter review of the monetary policy to tame high inflation levels , economic analysts said on Tuesday. “We are expecting 25 basis points hike in repo rate by the RBI and the subsequent adjustments in ... Read More »

Raghuram Rajan likely to announced a third rate hike. Will it work?

Reserve Bank of India (RBI) Governor Raghuram Rajan is very likely to announce a third hike in the repo rate since he took charge three and a half months ago. There is widespread expectation that, at the mid-quarter review of monetary policy on December 18 (Wednesday), there will be another increase of 25 basis points in the repo rate, raising ... Read More »