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Punjab National Bank (PNB) has decided to realign the interest rates on retail term deposits by reducing interest rates by 50 basis points (bps) to 100 bps in the time slabs from ‘91 to 179 days’ to ‘2 years to less than 3 years’. The bank has further stated that no change in the interest … Read more PNB realigns Interest rates on term – fixed deposits

No this is not an April Fool’s Joke. But w.r.t RBI/2007-2008/260 DPSS No.1405 / 02.10.02 / 2007-2008, Based on the feed back a framework of service charges would be implemented by all banks as under: For use of own ATMs for any purpose – Free (in effect) For use of other bank ATMs for balance … Read more Any Bank – Any ATM card – Cash Widthdrawl for Free from April-1st

Responding to the Reserve Bank of India’s cut in repo and reverse repo rates by 50 basis points each on Wednesday, private sector lender ICICI Bank has announced a 25-50 basis point (bps) cut in interest rates on new home loans. As per the announcement, new ICICI home loans of up to Rs 20 lakh … Read more ICICI Bank slashes home loan rates by just 25-50 bps

The Indian Banks have been caught on the wrong footing due to the burst in the Real Estate Bubble. The banking sector has demanded the Reserve Bank of India (RBI) to reduce provisions on restructured loan outstanding due of Rs 1 crore or less with small-ticket borrowers. Earlier, the RBI had asked banks to make … Read more Banks demand reducing Home loan provision to 2%

Vijaya Bank is planning to open 35 new branches across the country by the end of March 2009. The bank’s aim is to cross the 1,100-mark of total branch network by the end of the current fiscal. The bank currently has 1,065 branches across the country. Of the proposed 35 new branches, 19 would be … Read more Vijaya Bank to open 35 new branches by March end