SBI hikes fixed deposit interest rates for select tenures

SBI hikes fixed deposit interest rates for select tenures

Here is some good news for savers. India’s biggest lender State Bank of India (SBI) has revised its interest higher on retail fixed deposits or FDs below Rs. 1 crore. The revised rate on SBI FDs will be effective from May 28. SBI has revision interest rates by up to 25 basis points in select maturities, according to the […]

India surpasses France to become world’s sixth-largest economy, shows World Bank data

India surpasses France to become world’s sixth-largest economy, shows World Bank data

India has surpassed France to become world’s sixth-largest economy in terms of gross domestic product (GDP), according to figures released by World Bank. India’s GDP reached $2.597 trillion in 2017, while it was at US $2.582 trillion for France, the World Bank said. The United States, China, Japan, Germany and the United Kingdom occupy top […]

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ICICI appoints Sandeep Bakhshi as COO as Chanda Kochhar goes on leave

ICICI appoints Sandeep Bakhshi as COO as Chanda Kochhar goes on leave

In a major management reshuffle, the ICICI Bank on Monday announced the appointment of Sandeep Bakhshi as the Wholetime Director and Chief Operating Officer-designate, ICICI Bank. His appointment as COO will be for a period of five years, subject to regulatory approvals. He will take over as the COO on Tuesday or on the date […]

Home loans of up to Rs 35 lakh may cost less in metros

Home loans of up to Rs 35 lakh may cost less in metros

The decision of the Reserve Bank of India (RBI) to hike repo rates by 25 basis points, indicating tightening in the interest rates, could make all loans including home loans costlier, but the revision of housing loan limits for priority sector lending (PSL) from existing Rs 28 lakh to Rs 35 lakh may lead to reduction in the interest […]

Registration norms for insolvency professionals get a makeover

Registration norms for insolvency professionals get a makeover

NEW DELHI, India MARCH 30 The Insolvency and Bankruptcy Board of India (IBBI) has sought to streamline the process and criteria for registration of an insolvency professional (IP), seeking to institutionalise this important pillar of the Insolvency and Bankruptcy Code (IBC). Insolvency resolution professionals determine the life and death of a company in the insolvency […]

ICICI, Union Bank cut savings rates

ICICI, Union Bank cut savings rates

MUMBAI: Three more lenders — ICICI Bank, Union Bank of India and Punjab National Bank (PNB) — have brought down their interest rates on savings bank account, taking the total to 10. The cut in savings rate is likely to be a precursor to a cut in lending rates. ICICI Bank and PNB said that […]

NRIs need not give account details if seeking no refund

NRIs need not give account details if seeking no refund

NRIs need not give account details if seeking no refund

The non-resident Indians will not have to give details of their bank accounts held outside the country while filing their income tax returns, if they are not seeking refunds, the CBDT said on Monday. “It (providing details of foreign bank accounts) is not mandatory. It is optional. It is for cases where refund is sought,” […]

SBI Unnati Credit Card – Free, Zero Annual Fee, Instant Apply

SBI Unnati Credit Card – Free, Zero Annual Fee, Instant Apply

SBI Unnati Credit Card Overview State Bank of India (SBI) has launched a new credit card called the Unnati card. The Unnati card is provided to an account holder who holds an account balance of Rs.25,000 or more. SBI is not planning to charge any annual card fee for the first four years. Additionally, the […]

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