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Credit Card: Boon or Curse

Credit cards are whether a boon or a curse entirely depends on usage. On one hand it can help one out of any money problems, providing a financial lifeline and helping in case of severe cash flow problems but on the other hand they are pure temptation which can easily lead into debt trap (financial […]

India top provider to StanChart’s turnover

India became the largest contributor to Standard Chartered Bank Plc’s yearly profit for the first time as the country’s rapid economic growth helped accelerate demand for loans and increase fee income. The UK-based banking group’s profit rose 19% to $6.12 billion (`27,500 crore) in 2010, with India contributing $1.19 billion, higher than Hong Kong’s $1.10 […]

SBI won’t make unique home-loan provisioning

With the finance ministry’s economic survey backing State Bank of India’s (SBI) controversial yet popular home loan scheme, bank chairman O P Bhatt said SBI will not have to make any special provisioning for such loans. SBI home loans, which offer a lower interest rate in the initial years and rate increases in the later […]

Cheaper loans for affordable houses

For homebuyers with a budget of Rs 15-20 lakh, the finance minister’s Budget speech would have been music to their ears. The finance minister proposed to raise the priority sector limit for houses from Rs 20 lakh to Rs 25 lakh. Priority sector broadly comprises agriculture, small-scale industries, road and water transport operators, small businesses, […]

PSBs catch up in online transactions

The public sector banks (PSBs) are increasingly becoming tech savvy to catch up with their private sector counterparts which is evident from the rising transaction by the customers in alternate channels. For the country’s largest bank, State Bank of India (SBI), transactions through alternate channels have gone up to 28-30% as against 22% recorded in […]