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Tuesday, 22 April 2014

TARGETTING INFLATION-Govt to allow more private banks

TARGETTING INFLATION-Govt to allow more private banks  The Governor of Reserve Bank of India Mr.Rajan will explain to the new Government the need to keep inflation under control. Further keeping interest rates relatively high may be un avoidable to achieve that government officials famillar with RBI .RBI which is in the process of formulatingnew guidelines for bank licence was unlikely to allow corporate houses set up new banks in the...

Saturday, 19 April 2014

RBI AUDIT 2014- Big Loan Defaulters to Face RBI Audit

RBI AUDIT 2014- Big Loan Defaulters to Face RBI Audit Reserve Bank of India has taken upon itself the task of investigatinf bank frauds after a series of inquiries by banks themselves i high profile cases such as those involving Deccan chronicle and Kingfisher Airlines yielded very little. The Board of Financial Supervision chaired by RBI Governor Mr.Rajan, has in fact cleared a proposal that the central bank will conduct an independent forensic...

Sunday, 13 April 2014

RBI customer norms 2014- RBI issues fresh norms to curb customer discrimination

RBI customer norms 2014- RESERVE BANK OF INDIA ISSUED FRESH PRESCRIPTION FOR BETTER CUSTOMER SERVICE: 1. For calculating base rate ,the marginal cost of funds be factored if average maturity of deposit is lower. 2. Floating rate loan covenant to have interest rate reset periodicity and resets allowed on those dates only. 3. Sunset clause for benchmark prime lending rate,no extra spread/fees when customer shifts to base rate. 4. IBA to develop...

Friday, 11 April 2014

Bharatiya Mahila Bank news in India- Mahila Bank to offer services via mobile Van

Mahila Bank To Offer Services Via Mobile Vans- Bhartiya Mahila Bank Limited ,India first women s bank is considering to have mobile banking  vans fitted with automatic teller machines (ATM) to cater to customers living in areas where there are no bank network. We can not expect women to visit our Hyderabad branch for far off places around the city.Also ,we cannot have a wider branch network to be present in every neighborhood like...

RBI ALLOWS 5 PRIVATE BANKS TO IMPORT GOLD

TOP 5 BANKS ALLOW TO IMPORT GOLD The Reserve Bank of India has allowed five domestic private banks to import gold.Sector officials said this could be a significant step towards easing of tough  curbs o the metal imposed last year to cut the country trade deficit. The central bank allowed imports by  HDFC Bank,Axis Bank, Kotak Mahindra Bank,IndusInd Bank,YES Bank ,officials at the respective banks told Reuters.Two sector sources confirmed...

Thursday, 10 April 2014

Live Currency Exchange Rates Free currency converter

Live Currency Exchange Rates Free currency converter Live Currency Exchange Rates Free currency converter Currency Converter...

Tuesday, 8 April 2014

RBI Prepayment charges for floating rate home loans

RBI GOING TO SCRAP  PRE - PAYMENT CHARGES: The Reserve Bank of India is going to order to the Banks to scrap the pre -payment charges on all the small and corporate loans. RBI observed that there is no justification for banks to charge pre-payment charges on any loan since the entire system has moved to floating rates . Banks are seen to be discriminatory between retain and big corporate clients who often arm twist lenders to charge them...

Sunday, 6 April 2014

DIFFERENTIATED BANKING LICENCE- RaghuramRajan pitches for differentiated bank licences

RaghuramRajan differentiated bank licences - RaghuramRajan supports for differentiated bank licences The differentiated banking licence are more appropriate for some private entities aspiring to setup banks in India before granting in principle approvals for banking licence to two companies , Bndhan Financial  Services and IDFC. The banking regulator RBI has assessed various  applications. RBI...

Thursday, 3 April 2014

Axis Bank new loan plan 2014- Axis Bank new plan 30-year home loan for lower income Group

30 YEAR LOAN FOR  THE LOWER INCOME:  Axis Bank has launched "ASHA " Home Loan a 30 year loan product for first time in the lower income segment.The risk factor is higher in this segment so that the rate of interest will be 10.75% in variable rates and 11.75%at fixed rate for the entire 30 years. ASHA home loan will offer loans to customers even with family income from Rs.8000-10,000 per month and above.Customer can pool their...

2014-15 HOME BUYERS Loan- IN 2014-15 HOME BUYERS MAY GET SOON 90% LOAN:

IN 2014-15 HOME BUYERS MAY GET SOON 90% LOAN At present lenders offer maximum loan up to 80% of the property value. The National Housing  Bank is considering proposal that seeks to allow lenders to give loan up to 90% of the property value as home loan.  The proposal is for above Rs.20 lakh loans that carry mortgage guarantee cover.Housing finance companies enter into a contract with mortgage guarantee companies...

Wednesday, 2 April 2014

RBI keeps repo rate unchanged ahead of polls 2014-15

RBI repo rate 2014-15,  RBI keeps repo rate remains same at 8 per cent . LENDING RATES UNCHANGED RBI Governer Mr. Rajan today focused on banking policy where they had indicated that lending rates will remain the same and no further hikes are expected in this year and if inflation remains comfortably low.Further the EMIs will not rise immediately. GROWTH PROSPECT 2014-2015 RBI forecast for India's GDP growth in the...