Switzerland has agreed to provide India with the identity of persons on liberal terms, a move that is expected to lift the veil over names of “black money” account-holders in the alpine nation.
HT reports.
Lifting the veilTwo days after the he Reserve Bank of India (RBI) reduced repo rate by 0.5 percentage points, two major banks — ICICI Bank and Punjab National Bank (PNB) — on Thursday announced deductions in lending rates. Both banks have also slashed interest rate on fixed deposits. HT reports.
If you need jewellery in the near future, such schemes are for you. From an investment point of view, deposits work better.
If your children are studying in classes between nursery and class X, then the school fees may be pinching your pocket. To give you some relief, there are banks that offer loans for such fees.
Vivina Vishwanathan reports.
Citigroup's Indian American CEO Vikram Pandit and its directors have been sued by a bank shareholder over a compensation package that was contested by investors in a rare failed "say-on-pay" vote in Manhattan.
The Reserve Bank has made it mandatory for all banks to print the MICR and IFSE code on the passbook and statement of account of the customers.
In order to promote investor protection, the government is considering expand the ambit of the Insurance Ombudsmen Scheme by bringing under its jurisdiction the mis-selling of insurance products.
India's largest bank State Bank of India (SBI) on Monday dealt a good hand to car loan seekers by announcing a 0.25% cut in car loan rates, bringing down the rate of interest to 11.25%.
SBI cut its deposit rates by 0.25% to 1.00% for various retail term deposit schemes.
SBI, surprisingly did not pass on any benefit from its deposit rate cut to home loan seekers.
A day after country’s largest lender State Bank of India trimmed its fixed deposit rates, two more lenders — Union Bank of India and Corporation Bank — on Tuesday slashed benchmark lending rate by 0.15%, making loans cheaper.
Private lender ING Vysya Bank on Tuesday posted a 40% year-on-year rise in the net profit at Rs. 127 crore for the quarter ended March, 2012 compared to R91 crore in the corresponding quarter last year helped by healthy growth in loans and decline in bad loans.
Pressure is building up on the government and the Insurance Regulatory and Development Authority (IRDA) to chalk out a health insurance strategy for senior citizens. Mahua Venkatesh reports.
Despite volatile markets, weak sentiments and a faltering growth story, retail investors are not fleeing the market. On the contrary, they are adopting a new strategy to counter the current situation: shifting investment from high risk, high-return equity schemes of mutual funds to low risk, low-return debt schemes of MFs. Sachin Kumar reports.
The Federal Reserve resumed a two-day meeting on Wednesday that is expected to yield upward revisions to its growth forecasts but not enough for officials to take off the table the option of a further easing of monetary policy.