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Hopes of accelerated growth in the domestic economy, coupled with expectations of wage increments and an improved demand for consumer goods, have encouraged foreign and private lenders to switch their attention back to the unsecured loan market. “We have selectively started increasing the sourcing of unsecured loans. We believe it will remain an important part […]

This budget has few proposals that benefit the home loan seekers. Borrowers have some scope as the Finance Minister has raised the slab for the one percent interest subvention scheme on home loans from Rs 10 lakhs to Rs 15 lakhs. This gives more opportunity to the prospective homebuyers as the qualifying cost of the […]

In a first of its kind loan transaction in the troubled microfinance segment, public sector Central Bank of India has sanctioned a `100 crore loan to Bhartiya Samruddhi Finance Ltd (BSFL), the flagship company of the Basix group, against personal guarantees of its directors, including group chairman Vijay Mahajan. According to Basix’s website, it has […]

The India branch of American Express Banking Corp has signed a distribution tie-up with Chennai-based public sector bank, Indian Overseas Bank (IOB), to provide its credit card services through the latter’s distribution network. Based on the Memorandum of Understanding (MoU) signed between the two banks, the co-branded platinum and gold charge credit cards of American […]

Diwakar Gupta is set to be appointed one of the managing directors of State Bank of India, the country’s largest bank, though there is no clarity on whom the other two MDs would be. Sources told TOI that the department of personnel and training has cleared his appointment and a formal notification is pending with […]