Corporation Bank

Country's largest lender SBI today announced a hike in lending rates by 75 basis points (bps), making housing, auto and other loans dearer for both new and existing borrowers. State-owned SBI has increased the base rate, or the minimum lending rate, by 75 bps (0.75%) to 9.25%. The new rate is effective from May 12, the lender said in a statement. Full Article

State-run Corporation Bank today launched a mobile wallet which makes it possible to make purchases using a mobile handset. Under the scheme, christened 'ypaycash', an account-holder can pay for purchases through the mobile handset, provided the merchant has the system installed. The service, which comes free for Corporation Bank customers, can be availed by asking the Bank to transfer up to Rs 5,000 from a savings or current account to the mobile wallet. Full Article

The Committee for Capacity Building of CA Firms and Small & Medium Practitioners, ICAI has taken a major initiative for arranging financial assistance to SMPs in the form of liberalised loan scheme through Corporation Bank. An MOU has been signed by Full Article

The Institute of Chartered Accountants of India [ICAI] today signed an MoU with Corporation Bank, a premier public sector bank. This MoU will offer a specially designed scheme (Corp CA) to cater to various financial needs of Chartered Accountants. Sh Full Article

The Committee has taken a major initiative to arrange financial assistance to all members in practice / firms in the form of specially designed loan scheme through Corporation Bank. Through the scheme, eligible Chartered Accountants can avail finance Full Article

Accounting regulator Institute of Chartered Accountants of India is arranging easy financing schemes for its members through public sector banks, as it looks to help domestic audit firms enhance infrastructure and resource base to ward off competitio Full Article

When you buy a house through a home loan, every EMI you pay towards servicing the loan increases your equity in the house. Once you payoff the loan in full, your equity in the house is 100 per cent. In reverse mortgage, exactly the opposite happens. When you pledge your house for reverse mortgage with a lending institution, your equity in your own house decreases with every disbursal that the lending institution makes to you. Full Article