SBI to knock retail bond market next year
State Bank of India (SBI) chairman, said the bank is looking at tapping the retail bond market next year with a 10-year issue, although the initial issue size may be as small as Rs 50-100 cr.
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Government tables SBI Bill in Lok Sabha
The government today introduced the State Bank of India (Amendment) Bill in Parliament to give SBI more leeway to raise capital from the market through preference shares, bonus shares and private placement of shares. The Bill proposes to bring down the minimum government shareholding in the country’s largest bank to 51 per cent from the 55 per cent prescribed in the existing law.
The accurate Calculator Tools to Know Your Home Loan Eligibility
Every couple dreams of owning a pleasant innovative house. Getting the house is however much more difficult than dreaming about one. You would first need to obtain the correct home loan that would suit you. A home loan calculator could greatly help you in picking out the accurate type of home loan for you.
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Private Sector Banks Hikes Home and Car Loan Rates by 25-50 bps
HDFC Bank, ICICI Bank and Kotak Mahindra have raised rates on home and auto loans, reflecting the stiffening market that may lead to the Reserve Bank of India (RBI) hastening with a lift in its policy rates from record lows to fight inflation.
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Panel seeks safeguards on credit rating
KP Krishnan committee on Comprehensive Regulation of Credit Rating Agencies(CRA) has observed undercutting of fees between CRAs is taking place and issuers may take advantage of such situations.
Issuers attempt to seek informal ratings from various CRAs and pass the rating mandate to the agency that could potentially offer the highest rating. To prevent instances like the damage caused by unscrupulous salesmen of Insurance, Mutual funds and Personal loan products, it is necessary to place safeguards or prescribe standards on outsourcing of credit rating or credit information to any third party. This is in the interests of quality and confidentiality.
Standard chartered India operating profit up 19%
With a outstanding income growth driven by a very strong performance in wholesale banking, partly offset by lower income in consumer banking, the Indian operations of Standard Chartered Bank a reported a 19 per cent increase in operating profit to $ 1.06 billion (Rs 4,886 cr) for 2009, compared to the last year
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Credit score decisive to personal loan seek
With a recent survey importance how money worries are having a negative impact on the health and love lives of Britons, there has never been a better time for people to reassess the way they manage their finances. Indeed, the study, conducted by GE Money Home Lending on behalf of moneybasics.co.uk, even suggests that this message has already started to hit home. It found 17.4 million people with outstanding unsecured loans, credit card debt and overdrawn bank accounts intend to reduce their borrowing by the end of the year. And, with statistics released by Credit Action in February showing interest repayments on personal debt reached £66bn in the preceding 12 months, it appears searching for the best personal loan product is as good a place as any to start.
HSBC’s Indian ops post 44% drop in profit
The Indian operations of HSBC has reported a 44% drop in its net profits for the year ended December 31, 2009, to $374 million from $666 million a year earlier. The drop comes on the back of a loss of over Rs 1,000 crore in retail banking. The bank has also recorded a loss in commercial banking and lower profits in global markets. However, the group’s profits from non-banking sources like brokerage and asset management have improved.
Pranab sets aside Rs 25 cr to restrain home loan frauds
Fraudsters would soon find it difficult to raise multiple loans against the same property with the budget setting aside Rs 25 crore for a Central Electronic Registry.
The Central Electronic Registry (CER) would be a database of all all mortgages and the banks that have a charge. So in future when a borrower seeks to avail a loan against Property, an apartment or a house, the lender will be able to verify whether anyone has already got a charge on the property.
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Personal loan as a short-term finance option
In the last few weeks, calls from telemarketers have already gone up asking you to sign up for personal loans. The difference this time is that most banks want to lend to their own customers and in many cases, customers are being offered pre-approved loans to cut down on processing time.
