Commercial vehicles loan stress hit new peak in Q2: India Ratings

India Ratings has said stressed assets in the commercial vehicles (CV) loan books of lenders hit a new high of 3 per cent in September quarter due to the lingering slowdown. The agency cautioned that the asset quality stress will continue at least for the next two quarters. “Delinquencies of CV loans rose to 3 per cent in the September ... Read More »

Best Loan Buys

Are you scouting for a loan to buy a house, a car or for your child’s education? Given here are the best deals on offer from public and private sector lenders. (All rates updated till 13 October 2013; Data provided by [“source-businesstoday”] Read More »

Canara Bank cuts fixed deposit rates by up to 1 pc

State-owned Canara Bank on Tuesday lowered fixed deposit rates by up to 1 per cent on select maturities. The bank has slashed the interest rate by 1 per cent on maturities of 61-90 days to 7.75 per cent from 8.75 per cent earlier. For maturities of 91-120 days, the new rate would be lower by 0.5 per cent to 8.50 ... Read More »

Punching PIN must for debit card transactions from Dec 1

Debit card holders will from Sunday be required to punch in their PIN numbers every time they use the card, a move aimed at minimising frauds. In June, the Reserve Bank of India had extended the deadline for the implementation of mandatory PIN punching at Point-of-Sales (PoS) and merchant outlets till November 30 following representation of banks. “Our back-end system ... Read More »

Loans Get Dearer

In its second quarter monetary policy released October 29, the Reserve Bank of India, or RBI, increased the repo rate, at which it lends to banks, by 25 basis points or bps. Simultaneously, it reduced the marginal standing facility, or MSF, rate, at which it lends emergency funds to banks, by an identical margin. This rate cut is putting downward ... Read More »

RBI extends special forex windows for banks till December 31

After getting a good response to the double forex swap windows – aimed to shore up forex buffer and prop up the rupee – the Reserve Bank of India (RBI) has allowed banks to utilise the special window till December 31 to borrow forex against their core capital, but with riders. The other swap window was to draw in NRI ... Read More »

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, 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 »

SBI hikes lending rates by 0.20 per cent, loans set to get costlier

State Bank of India said has announced that it would raise its lending rates by 0.20 per cent with effect from Thursday, a move that would make home, auto and consumer loans costlier. India’s largest lender said that the bank has revised the base rate or the minimum lending rate to 10 per cent from 9.80 per cent. At the ... Read More »