Canara Bank hikes lending rate by 0.25 per cent

State-owned Canara Bank on Monday raised base rate or the minimum lending rate by 0.25 per cent to 10.20 per cent even as  Reserve Bank of India (RBI) kept its policy rates unchanged in its mid-quarter review earlier this month. Canara Bank becomes the first major state-owned bank to increase base rate after RBI’s policy announcement, a move that will ... Read More »

Home Loans Get Cheaper

The country’s two large lenders, State Bank of India (SBI) and HDFC, sprang a surprise on December 18 by announcing a reduction in the rate of interest on home loans for new borrowers. SBI reduced the rate on loans up to Rs 75 lakh from 10.5% to 10.15%; for loans above Rs 75 lakh, the new rate will be 10.3%. ... Read More »

Best Loan Buys

Are you scouting for a loan to buy a house, a car or for your child’s education? Given below are the best deals on offer from public and private sector lenders. Data provided by [“source-businesstoday”] Read More »

SBI slashes home loan rates by up to 0.4 per cent

State Bank of India (SBI) has cut home loan rates by up to 0.4 per cent for new borrowers, a day after the Reserve Bank of India (RBI) kept its key policy rates on hold. The new rates would be effective from Friday, India’s largest lender said in a statement. SBI home loans will now be available under two slabs ... Read More »

Bankers rule out rate cuts as RBI keeps key rates unchanged

Bankers on Wednesday ruled out a reduction in interest rates even as the Reserve Bank kept key policy rates on hold. Bank of India Chairperson V R Iyer said there was no room for cutting lending and deposit rates at the moment. “Inflation is very high and there is hardly any scope for us to reduce the interest rate on ... Read More »

China sell-off: time to worry or a chance to buy?

Investors lured by rapid growth in China are having their nerves tested following dramatic stock market falls and even predictions that the country is facing its own Wall Street crash. British investors are counting the cost with Fidelity China Special Situations, a popular fund in the UK, having lost 30pc in just six weeks. The authorities are scrambling to prevent ... Read More »

Hiring may grow by 15% on digitization, smart cities move: survey

Indian employers appear to be upbeat about government initiatives like digitalization and smart cities as they plan to increase hiring activities by up to 15% in specific sectors such as IT,manufacturing and construction, says a survey. About 51% respondents surveyed believe there will be a hiring growth of up to 15% this fiscal, according to the Genius Hiring-Attrition & Compensation ... Read More »

Germany won’t spare Greek pain – it has an interest in breaking us

Greece’s financial drama has dominated the headlines for five years for one reason: the stubborn refusal of our creditors to offer essential debt relief. Why, against common sense, against the IMF’s verdict and against the everyday practices of bankers facing stressed debtors, do they resist a debt restructure? The answer cannot be found in economics because it resides deep in Europe’s ... Read More »

The Latest: Greece Denies Report of Temporary Grexit

The Greek government is denying a report that the German finance ministry has proposed a temporary, five-year euro exit for Greece. Theodoros Mihopoulos who heads Greek Prime Minister Alexis Tsipras’ office, said in a tweet that the report in Germany’s Frankfurter Allgemeine Sonntagszeitung newspaper “is completely denied.” According to the report, the German finance ministry also proposed that the Greek ... Read More »

International Financial Institutions Announce $400 Billion to Achieve Sustainable Development Goals

WASHINGTON, July 10, 2015—The multilateral development banks (MDBs) and IMF today signaled plans to extend more than $400 billion in financing over the next three years and vowed to work more closely with private and public sector partners to help mobilize the resources needed to meet the historic challenge of achieving the Sustainable Development Goals (SDGs). The institutions—the African Development ... Read More »