Indian Bank

Seven lenders, including Bank of Baroda (BoB) and HDFC, today raised interest rates by up to 50 basis points, in response to the Reserve Bank's tight monetary policy announced last week. While BoB and Oriental Bank of Commerce (OBC) raised the deposi Full Article

Government on Friday said that ICICI Bank and HDFC Bank cannot be called Indian-owned banks, setting at rest the debate generated over the nationality of the top two private sector lenders. At best, the two can be called as Indian-controlled banks," DIPP secretary R P Singh said when asked about the government's stand in the wake of the two seeking clarifications on the matter. 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