Bank

Apollo Munich ties up with Canara Bank for sale of its policies

Apollo Munich Health Insurance has tied up with state-owned Canara Bank to distribute its products from the bank’s branches. Canara Bank with 5 crore customers has over 4,200 branches spread across the country. “Under the arrangement, the bank will act as a corporate agent for selling the company’s products,” Apollo Munich Health Insurance Chairman Prathap C Reddy said. “With Canara ... Read More »

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 »

HDFC says won’t cut interest on consumer durable loans

Photo: Reuters HDFC Bank on Friday said it will not reduce interest rates for consumer durable loans ahead of the festive season, although state-owned lenders might do so on a call by the Finance Ministry to boost demand. “No, we will not be reducing the interest rates (on consumer durable loans). We are already providing such loans at a competitive ... Read More »

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 »