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younger readers of business papers might have barely paid attention to the full page notice by HDFC to honour its founder last week. The bright-eyed smiling man, whose picture was at the centre of that page, is virtually unknown to people now in their 20s or 30s. Those who work in or around Churchgate in […]

The State Bank of India (SBI) has said that deregulation of interest rates on savings account will not be good for the domestic banking system. “Deregulation of savings account interest rate will not be good for the domestic banking system. It may at best aid a few banks and not definitely the system,” SBI chairman […]

Transactions worth Rs. 6,934.65 crore were carried out in India through credit card in January, 2011, growth of 27.82 % from that in the same period last year. Credit card transactions during January, 2010 were at Rs. 5,425.51 crore, according to the RBI data. The number of credit cards in circulation have, however, declined by […]

The banking sector reported a robust set of numbers in the quarter ended December 31, 2010, led by a 23% year-on-year growth in loans. Contrary to expectations, most banks reported high margins and profit growth. However, an encore appears unlikely given high inflation and the fall out of it — high interest rates. DEC’10 QUARTER […]

Fixed deposit (FDs) being the flavour of the season with their attractive interest rates and terms, I will discuss how you can get maximum benefit out of this instrument with esteem to tax as well as returns. By investing in FDs with banks you can avail tax benefit under Section 80C. Moreover, you need not […]