punjab national bank

Major public sector banks, including State Bank of India, Punjab National Bank and Bank of Baroda, are likely to soon raise lending rates making home, auto and commercial loans expensive. As many as a dozen banks, including private sector leader ICICI Bank have already hiked their lending rate by 25 basis points in response to the tightening of monetary policy by the Reserve Bank of India (RBI) last month. Full Article

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

As Indian companies farm out across the globe chasing business where they can through a slew of M&As and joint ventures, stodgy Indian banks are spreading following suit, as much to retain clients as to chase profits. Deal volume in India surged thre Full Article

Union Finance Minister Shri Pranab Mukherjee held a meeting with Financial Sector stakeholders to get their inputs for General Budget 2011-12, here today. This was the sixth meeting in the series of pre-Budget consultations held by Finance Minister w Full Article

Country's largest lender State Bank of India (SBI) today raised deposit rates by up to 150 basis points or 1.5 per cent across various maturities, a move that will provide better returns to people with fixed deposits in the bank. The new rates will b Full Article

The CBI is looking into bad debt write-offs by some of the banks and financial institutions involved in the kickbacks-for-loan rackets it busted last week. Two of them -- Punjab National Bank (PNB) and Bank of India -- have written off almost Rs 400 Full Article

Share of Money Matters Financial Services today nosedived by 20 per cent, hitting a lower circuit on BSE, on allegations that the firm bribed senior officials of public sector financial institutions for procuring loans for corporates. The Mumbai-base Full Article

Finance Minister Directs all PSBs, FIs and Insurance Companies to Look into their Exposures to the Various Companies Mentioned by CBI : Carry Out an Independent Evaluation on the Asset Quality, Documentation and Compliance of Prudential Requirements; Full Article