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Credila’s education loan approval before admission to the USA is the first ever in India!”, said Prashant A. Bhonsle, Country Head of Credila Financial Services. He continued to say, “Unless students demonstrate the sources of funds, the US Universities don’t give I-20 to the students. With Credila’s education loan approval letters, thousands of creditworthy students […]

Customers using the credit cards of the State Bank of India have been left in the lurch following a rift between its cheque collection agent and service provider. The collection agent, Skypak, discontinued its association, after its contract had expired on December 1, 2010, without implementing an alternative mechanism. The customers became aware of the […]

The cost of bank funding to the thriving gold loan segment has increased by 150-200 basis points following the Reserve Bank of India decision to remove the priority sector lending benefit available to commercial banks, under the agriculture classification, for loans to (and assignment portfolios from) gold loan companies like Manappuram and Muthoot. The removal […]

Loans from the country’s largest bank have turned more expensive with the State Bank of India revising its base rate, prime lending rate (PLR) and returns on term deposits with effect from Monday. The increase will apply to home loans under its special scheme as well. SBI’s announcement to hike its PLR from 12.75% to 13% comes after RBI […]

More than two years after a spate of defaults on personal loans forced lenders to turn cautious on unsecured advances, the number of credit cards, which are a source of unsecured loans, continues to shrink. The number of active credit cards in India has steadily dropped from a peak of 2.75 crore as on March […]