Bank

Banks get more capital to offer cheaper loans for auto, consumer durables

The government has decided to enhance capital infusion into the Public Sector (PSU) banks over and above what was provided in the budget to enable them to extend more credit to auto and consumer durables sectors to stimulate demand and combat slowdown. The decision to increase the quantum of capital infusion was taken at a meeting between Finance Minister P ... Read More »

RBI working on scheme for cheap loans for consumer goods: Raghuram Rajan

RBI Governor Raghuram Rajan Photo: Reuters RBI Governor Raghuram Rajan on Friday said the central bank is working on the contours of the scheme that will provide cheap loans to buyers of consumer goods. “I just want to emphasise that discussion is taking place on what can be done. Something will be announced as and when the scheme will be ... Read More »

Axis Bank hints at lending rate hike again

After raising its base rate in August, Axis Bank on Tuesday hinted at raising its interest rates again, citing increasing cost of funds. “We believe the cost of funds will go up in this quarter by may be 10 basis points…so it is inevitable that some or all of that cost increase will get passed on. So, it is fair ... Read More »