Banking

Banking News

DBS Bank India aims to expand gold and MSME loan business; details here
Business

DBS Bank India aims to expand gold and MSME loan business; details here

DBS Bank India has presently a strong presence in the Indian market, and benefits from the network's expansion across sectors like gold loans, have begun to emerge

SBI revises interest rate on savings accounts, check latest rates here
Business

SBI revises interest rate on savings accounts, check latest rates here

The move comes after SBI hiked its term deposit interest rate across all tenors. The bank is offering 3 to 5.85 per cent interest on term deposits to the general public

This government bank offers over 7% on fixed deposits; check rates here
Business

This government bank offers over 7% on fixed deposits; check rates here

Furthermore, for FDs with a tenure of 5 years and above to 10 years, the interest rate is 7 percent for the general public and 7.5 percent for senior citizens

HDFC extends Senior Citizen Care FD scheme till March 2023, details here
Business

HDFC extends Senior Citizen Care FD scheme till March 2023, details here

Senior citizens will receive a rate of 6.50 percent, which is an increase of 75 basis points over the regular rate under the bank's Senior Citizen Care FD

Unity Bank introduces special FD scheme with lucrative interest rate; details here
Business

Unity Bank introduces special FD scheme with lucrative interest rate; details here

Recently, the interest rates on callable and non-callable bulk deposits (deposits greater than Rs. 2 crores) were also changed at Unity Bank

DBS Bank revises its savings account interest rates; details here
Business

DBS Bank revises its savings account interest rates; details here

DBS Bank is offering an interest rate of 3.25 percent for savings up to Rs 1 lakh. For balances between Rs 1 lakh and Rs 2 lakh, an interest rate of 3.5 percent is on offer

Applying for a home loan? Here's a step by step guide to the procedure
Business

Applying for a home loan? Here's a step by step guide to the procedure

The bank scrutinises the documents submitted by the applicant like their proof of income, ability to pay back the loan, identity proof and more. A background check is also done to verify the applicant’s details

Kotak Mahindra Bank revises fixed deposit interest rates; check latest rates here
Business

Kotak Mahindra Bank revises fixed deposit interest rates; check latest rates here

As per Kotak Mahindra Bank’s website, you can open a fixed deposit with a minimum of Rs 5,000. Furthermore, for FDs with tenure below 181 days, the interest will be calculate as simple interest

ICICI Bank hikes fixed deposit interest rates on these tenures; check list here
Business

ICICI Bank hikes fixed deposit interest rates on these tenures; check list here

It must be kept in mind that the interest rate on fixed term deposits is different for senior citizens. Furthermore, these rates are subject to change without prior notice

How much penalty is applicable if you break your fixed deposits before maturity? Find out here
Business

How much penalty is applicable if you break your fixed deposits before maturity? Find out here

While different banks have different penalty rates, the fee typically ranges between 0.5 and 1 percent of the interest

ICICI Bank imposes 1% charge on rent payments through credit card; find details here
Business

ICICI Bank imposes 1% charge on rent payments through credit card; find details here

This fee has been introduced to stop credit rotation through bogus rent payments and the move will come into force from 20 October 2022

RBI announces two entities for test phase of retail payments cohort; details here
Business

RBI announces two entities for test phase of retail payments cohort; details here

According to a press release on Monday, 5 September, the two entities that had been selected for the test phase were Precision Biometric India Pvt. Ltd. and HDFC Bank (in partnership with Swedish firm Crunchfish AB)

Banking: RBI imposes penalties on five co-operative banks for deficiencies in regulatory compliance
Business

Banking: RBI imposes penalties on five co-operative banks for deficiencies in regulatory compliance

RBI said the penalties are not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers

Rupee Co-operative Bank will cease to carry on banking business from Sept 22: RBI
India

Rupee Co-operative Bank will cease to carry on banking business from Sept 22: RBI

The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank, the RBI said

What are the risks while signing up as loan guarantor? Check it out here
Business

What are the risks while signing up as loan guarantor? Check it out here

Becoming a loan guarantor means that any delay in the repayment of the loan by the borrower will also impact the credit score of the guarantor. This in turn will impact the future ability of the guarantor to apply for credit cards or loans themselves.

Bank, realty, auto stocks end on mixed note after RBI's repo rate hike
Business

Bank, realty, auto stocks end on mixed note after RBI's repo rate hike

BSE bank index ended 0.47 per cent higher, auto index ended 1.12 per cent lower, realty index advanced 0.23 per cent. The 50 bps rate hike by the RBI is broadly in line with the consensus expectations, experts said to PTI

Indian stocks record best week since February 2021 on buying in banking, return of foreign funds
India

Indian stocks record best week since February 2021 on buying in banking, return of foreign funds

Decent buying by foreign investors after a long time has turned positive sentiments for the near term

Why skilling for jobs in new economy is key to necessitate flexible, life-long learning
Business

Why skilling for jobs in new economy is key to necessitate flexible, life-long learning

India's colossal gig economy currently employs around 13 million people, as our country has emerged as one of the biggest centres of gig economy jobs

RBI Gov Shaktikanta Das flags concerns on high petrol taxes, says up to government to take further decision
India

RBI Gov Shaktikanta Das flags concerns on high petrol taxes, says up to government to take further decision

It can be noted that the government had hiked duties and cesses on fuels like petrol and diesel to record levels after a sharp dip in global crude prices last year which resulted in higher revenue collections

Sebi tweaks trading norms for mutual funds on RFQ platform
India

Sebi tweaks trading norms for mutual funds on RFQ platform

Inter Scheme Transfer trades are excluded from the revised framework, Sebi said in a circular. The new norms will come into effect from 1 December, 2021