Beena Parmar has been is a banking and finance journalist for over 6 years. She loves to read about politics, society
Articles by Beena Parmar
UPDATED ON JAN 04, 2017 11:15 AM IST
The interest rate loan war intensified on Tuesday, with HDFC Ltd, the biggest non-bank mortgage player in the country, on Tuesday citing lower borrowing costs to slash home loan rates, a day after two of its biggest competitors — SBI and ICICI Bank.
Mumbai, Hindustan Times | By Beena Parmar
UPDATED ON JAN 02, 2017 10:50 PM IST
Two private sector banks slashed a key lending rate on Monday as a surge in deposits following the ban on high-value bank notes sparked a race among the country’s lenders to woo consumers with cheaper home and vehicle loans.
PUBLISHED ON JAN 02, 2017 02:23 PM IST
After State Bank of India and few other public sector banks, Kotak Mahindra Bank becomes the first private bank to cut lending rates by up to 0.45% in the new year.
UPDATED ON JAN 02, 2017 12:16 PM IST
State Bank of India, country’s largest bank will charge an interest rate of 8.65% on home loans up to Rs 75 lakh, while for women the interest rate would be 8.60%.
Hindustan Times | By Beena Parmar, New Delhi
UPDATED ON JAN 02, 2017 12:00 AM IST
Country’s largest bank, State Bank of India reduced it’s loan rates sharply by 0.9 percentage points across all tenure loans. This is one of the steepest cut since the global crisis in 2008.
Mumbai, Hindustan Times | By Beena Parmar
UPDATED ON JAN 01, 2017 07:39 PM IST
Non-resident Indians (NRIs) can exchange old Rs 500 and Rs 1000 notes till June 30, 2017, the Reserve Bank of India said on Saturday.
Demand has not gone away, people have just deferred discretionary spending: SBI chief Arundhati Bhattacharya
Hindustan Times | By Beena Parmar and Ramsurya Mamidenna
PUBLISHED ON DEC 29, 2016 08:43 PM IST
On the eve of the expiry of one of India’s most bold economic measure since 1991, the chairman of India’s largest commercial bank is confident that demonetisation would benefit. But she is candid enough to admit that the corporate loan book and SMEs are worrisome
Hindustan Times | By Beena Parmar and Ramsurya Mamidenna, Mumbai
PUBLISHED ON DEC 29, 2016 06:12 PM IST
Demonetisation has hastened year-end exits by foreign investors, but in the long run, digital efficiency will replace the clumsy ‘cash and pay’ tradition, Arundhati Bhattacharya said
UPDATED ON DEC 29, 2016 11:13 AM IST
Banks are likely to miss the March 2017 deadline for cleaning up their balance sheets, given the slow progress on resolution of bad loans.
UPDATED ON DEC 27, 2016 11:05 AM IST
Banks are likely to witness a weak third quarter due to subdued demand for home, vehicle and consumer loans, bringing loan growth to a 54-year low.
UPDATED ON DEC 26, 2016 10:34 AM IST
The country’s largest bank, State Bank of India, wants the government to allow banks to charge customers for cash transactions, said a senior executive.
UPDATED ON DEC 23, 2016 02:46 PM IST
After Axis Bank, Kotak Mahindra Bank came under the Income Tax (I-T) lens with two suspicious accounts reported on Friday. According to reports, fake accounts worth Rs 70 crore were found in their Kasturba Gandhi Marg branch in New Delhi. The accounts were in the name of Ramesh Chand and Raj Kumar.
UPDATED ON DEC 23, 2016 11:05 AM IST
MDR is a commission that banks charge merchants for every transaction on its card machine. A bank typically earns an MDR of 0.75% for transactions up to ₹2,000 and 1% for those above ₹2,000.
UPDATED ON DEC 21, 2016 12:50 PM IST
The Reserve Bank of India’s latest restriction on deposits over Rs 5,000 in old currency notes has saddled bankers with more work, apart from also having to face irate customers asking them for explanations as to why they couldn’t come earlier.
UPDATED ON DEC 09, 2016 12:54 PM IST
Employees are expected to see an average 10% increase in salary in 2017 -- lower than the 10.3% rise doled out this year. However, after taking into account the inflation effect, the hike would be a meagre 4.8%, according to the latest report by global consultancy Korn Ferry Hay Group.
UPDATED ON DEC 07, 2016 07:06 PM IST
RBI governor says benefits to accrue in long term, evades direct answer on quantum of money that will come back into the system
Hindustan TImes | By Beena Parmar, Mumbai
UPDATED ON DEC 07, 2016 12:05 PM IST
The Reserve Bank of India will most likely cut key interest rates later today with economists betting between 0.25% to 0.50% as the quantum of reduction.
Hindustan Times | By Ramsurya Mamidenna and Beena Parmar, Mumbai
UPDATED ON DEC 07, 2016 10:56 AM IST
Banks may be flush with cash after demonetisation pushed people to deposit old Rs 500 and Rs 1,000 notes into bank accounts, but it has also compounded problems. Banks, already operating on wafer-thin margins, are expected to take a hit on their earnings due to low demand, delaying their ability to pass on the rate cuts widely expected in RBI’s monetary policy on Wednesday.
UPDATED ON DEC 07, 2016 11:20 AM IST
Digital wallet companies, including Paytm, MobiKwik, Freecharge and Itzcash, have seen multifold growth in their transaction volumes as they cashed in on the acute shortage of physical currency, following the government’s demonetisation drive.
UPDATED ON DEC 01, 2016 06:18 PM IST
A State Bank of India executive said they had seen a 50% increase in cash supply in the last three days, which coincides with payday that has brought back long queues at banks and ATMs.
PUBLISHED ON DEC 01, 2016 11:27 AM IST
Utkarsh Micro Finance Ltd, which got the RBI’s approval to set up a small finance bank on Monday, will offer higher savings rates from January 14, 2017, to attract customers and set up their deposit base.
PUBLISHED ON NOV 29, 2016 01:12 PM IST
UPDATED ON NOV 28, 2016 10:27 AM IST
The Reserve Bank’s move on Saturday of retaining with it all cash deposits with banks made between September 16 and November 11 is likely to result in a marginal rise in costs for banks, as about ₹3.5 lakh crore of money will flow out to the RBI from the surge of deposits made in the wake of the November 8 demonetisation.
UPDATED ON NOV 26, 2016 09:33 PM IST
Banks will have to park the entire incremental deposits they get from the money inflow in the form of deposits through deposit of old currency notes after the demonetisation move announcement.
PUBLISHED ON NOV 26, 2016 02:36 PM IST
Banks, already reeling under the rising pile of non-performing assets, are worried that the RBI’s move to extend the repayment period for small borrowers in the wake of the demonetisation, could actually them to take a payment holiday.
Hindustan Times | By Anirban Ghoshal and Beena Parmar, New Delhi/mumbai
UPDATED ON NOV 24, 2016 11:18 AM IST
While websites, including eBay and OLX, are listing notes of varied denominations for sale, a simple Google search throws up an aggregator website, for-sale-in, which gives information about all deals available online on the sale of currency notes.
UPDATED ON NOV 23, 2016 10:59 AM IST
Close to one lakh ATMs, which account for about 45% of the cash vending machines in the country, will be recalibrated by Wednesday morning and made ready to dispense currency notes of Rs 500 and Rs 2,000, officials have said.
PUBLISHED ON NOV 23, 2016 10:12 AM IST
You can soon buy your vegetables, fruits, your favourite paan and even the road-side chaat food through Paytm, Mobikwik, Freecharge or JioMoney.
UPDATED ON NOV 22, 2016 11:06 PM IST
Small merchants can now transfer funds up to Rs 50,000 through semi-closed prepaid instruments (PPIs) linked to bank accounts.
Hindustan Times | By Mahua Venkatesh, Aloke Tikku, Beena Parmar, New Delhi/mumbai
UPDATED ON NOV 22, 2016 01:16 AM IST
The government provided on Monday a breather for borrowers saddled with the cash crunch in the country, giving additional 60 days to repay home, car, farm and other loans worth up to Rs 1 crore.