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High inflation and the sharp rise in interest rates by banks after the Reserve Bank of India’s (RBI) monetary tightening has taken a toll on small borrowers’ ability to repay loans. According to recent finance ministry data that captures the performance of public sector banks, instances of home loan defaults contributing to gross non-performing assets […]

HDFC Bank has decided to raise rates by 25 basis points (100 basis points = 1%) on Tuesday, after the rate increases by two of the biggest lenders, SBI and ICICI Bank. HDFC Bank raised its base rate to 9.5% to 9.25% today and the prime rate from 18% to 17.75% today. The rate increases […]

As plenty of as state-owned banks including Oriental Bank of Commerce (OBC) and Indian Bank hiked rates of interest by up to 50 basis points. While Indian Bank and Allahabad Bank raised base rate, or maximum lending rate by 25 basis points, OBC and IDBI Bank raised deposit rates by up to 50 basis points […]

LIC Housing Finance new home loan product Freedom provides customers with a one-time option within one year of obtaining the loan to convert to a fixed rate for the next five years, subject to terms and conditions. The ever-rising interest rates have not only hurt the sales of new homes but also the borrowers who […]

Less than 18 million of India’s 1.2 Bl people use credit cards. In China, a country with a slightly higher population, more than 200 million credit cards were in use as of a year ago. Lenders in India say a focus on higher end customers will be key to the success of a second credit […]