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Punjab & Sind Bank (PSB) raised its fixed deposit rates across various maturities by up to 100 basis points, or 1 %, in line with other lenders. For 46-90 days term deposit up to Rs. 1 crore has been raised by 1 % to 6.5 %, PSB informed the Bombay Stock Exchange. Further, rate of interest on […]

If there’s one person who would be pleased with the Economic Survey, it would be State Bank of India chairman O P Bhatt. The government has after all sided with him in the public sector banker’s battle with the regulator over “teaser rates”. To begin with, government has said home loans offered by SBI (and […]

In a bid to make education more reachable for the underprivileged, the Indira Gandhi National Open University has developed a new programme — Ability Development and Inclusive Programme — to make sure that all those who want to follow education, can do so. The programme aims to reach those who do not know much about the […]

In major relief for home loan borrowers, the government has suggested that the public sector banks (PSBs) stop levying pre-payment penalty or foreclosure charges on home loans. Banks impose penalty of over 2 % of outstanding principal on borrowers who repay in totality or a portion of their home loan ahead of tenure. In a […]

The credit card spigot is opening again, due to aggressive new offers and improved consumer confidence. Credit card borrowing rose in December for the first time in over two years, according to the Federal Reserve. At the same time, financial uncertainty remains. Unemployment remains above 9 percent. In many parts of the country, foreclosures are […]