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RBI cuts GDP

RBI cuts GDP

The Reserve Bank sharply lowered this fiscal’s economic growth projection to 5.8 per cent, from 6.5 per cent earlier, in view of global and domestic factors like poor investments and…

Website Functions of Private Banks

Website Functions of Private Banks

The future of private banking and wealth management is increasingly tied to the Internet. Today’s new generation of clients uses the website of a wealth manager or private banker as…

Bank of Baroda expand branches in Karnataka

Bank of Baroda expand branches in Karnataka

  Bank of Baroda, which has 80 branches in Karnataka, will open branches in Karnataka. The bank has 33 onsite ATMs and 19 offsite ATMs in the State.In its financial…

State Bank of India expects 16-18 pc credit growth in FY13

State Bank of India expects 16-18 pc credit growth in FY13

State Bank of India (SBI) today said it expects loan growth of 16-18 per cent in the current fiscal despite a general slowdown in credit offtake. “There is demand slowdown……

Govt relaxes norms for setting up units of NBFC

Govt relaxes norms for setting up units of  NBFC

The government on Thursday relaxed norms for the setting up of subsidiaries by foreign-owned non-banking financial companies (NBFCs). NBFCs with foreign holding of more than 75 per cent and up…

Bank ATMs stop sucking in cash after RBI direction

Bank ATMs stop sucking in cash after RBI direction

Next time you go to an ATM to withdraw cash, don’t worry about the banknotes getting sucked back by the machine if not collected immediately, as RBI has asked all…

Challenges persist in India loan market

Challenges persist in India loan market

India has recorded syndicated loan volume of only $7.2billion for the first nine months of 2012, just one-third of the $21.2billion closed by the end of the third quarter last…

HDFC Bank hints at interest rate cut

HDFC Bank hints at interest rate cut

Country’s second largest private sector lender HDFC Bank on Tuesday said it will decide on a possible interest rate cut later this week. “When costs go down, interest rates will…

FinMin for no charges on e-transfer of funds up to Rs 1 lakh

FinMin for no charges on e-transfer of funds up to Rs 1 lakh

To promote cashless transactions, the Finance Ministry has asked public sector banks to take steps to reduce the fee to zero for electronic transfer of funds up to Rs one…

SBI hints at more lending rate cuts

SBI hints at more lending rate cuts

State Bank of India on Monday said though there is little room for further reduction in the base rate, it could cut lending rates in select categories, as it recently…