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The Damodaran committee on bank customer service has recommended that they do not discriminate between new and old home loan customers with identical risk profiles, on the basis of interest rate offers. According to the report, which has been given to the Reserve Bank of India, banks should allow customers to switch their loans from […]

The existing home loan customers of mortgage major Housing Development Finance Company (HDFC) should prepare themselves to pay higher EMIs. Citing the rising interest rate scenario in the economy, the company on Tuesday said it has increased the rate of interest on floating rate home loans by 50 basis points (100 basis points=1%). The hike […]

The country’s largest lender the State Bank of India, which has witnessed huge erosion in its net profit, has set up 14 account tracking centres to check non-performing assets, Parliament was informed on Tuesday. “The State Bank of India has informed that they have set up account tracking centres in all its 14 circles to […]

In a shift from its traditional practice of offering credit cards to its captive clients, HDFC Bank, India’s second-largest private sector lender, is now offering more cards to people outside its existing client base. Currently, customers outside the bank’s existing client base account for 25 % of its card base, compared with 10 % a […]

Home, personal and Car loan borrowers will have to shell out more in their EMIs as three more banks, including the second largest state-run lender Bank of Baroda, increased their lending rates by 75 basis points. The RBI Governor had said after the policy announcement on Tuesday that bankers had told him that they would […]