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MDT/PTI 02 July 2012
The JV—India Mortgage Guarantee Corporation—will offer mortgage guarantees against borrower defaults on housing loans from mortgage lenders, which will help to expand access to housing in India   New Delhi: National Housing Bank (NHB) and three others have joined hands to form the...

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MDT/PTI 02 July 2012
The Kisan credit card is given to farmers for meeting comprehensive needs of their farm and household expenses   Bangalore: Canara Bank launched its new technology-enabled revised Kisan Credit Card Scheme (KCC Scheme) and distributed RuPay debit cards to farmers, reports PTI. The...

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MDT/PTI 02 July 2012
The credit cards Superia and Platinum have been designed to cater to the lifestyle, travel and other needs of doctors   Chandigarh: Private sector lender HDFC Bank rolled out credit cards for doctors to cater to medical fraternity's specific needs, as part of its plans to launch total...

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Today banks levy all kind of charges and penalties to bank depositors and account holders without any rhyme or reason. Are these charges justified? You withdraw your own deposit before the due date and you pay a penalty. You maintain a lower balance in your savings bank (SB) account and...

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The German bank has hiked its deposit rates for domestic and NRE depositors in the range of 1.10%-1.40 % for various tenors Deutsche Bank today hiked its deposit rates for domestic and NRE depositors in the range of 1.10%-1.40 % for various tenors, reports PTI. For domestic...

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CFTC said that Barclays had attempted to manipulate and made false reports concerning two global benchmark interest rates on numerous occasion and sometimes on a daily basis between 2005 and 2009 London: British baking major Barclays has agreed to pay 290 million pounds ($451 million)...

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Moneylife Digital Team 27 June 2012
The online application process involves verification of key customer details such as Permanent Account Number, mobile number, email ID and credit history through CIBIL, and other internal eligibility criteria   New Delhi: Standard Chartered Bank said it has launched an instant online...

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MDT/PTI 27 June 2012
RBI said urban co-operative banks will not be permitted to charge foreclosure charges or pre-payment penalties on home loans on floating interest rate basis   Mumbai: The Reserve Bank of India has asked urban co-operative banks (UCBs) to stop levying penalty on pre- payment of home...

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MDT/PTI 27 June 2012
The top hundred centres, arranged according to the size of deposits accounted for 69.4% of the total deposits   Mumbai: Bank deposits grew 17.3% to Rs5.81 lakh crore in the quarter ended December 2011 from a year ago, data from RBI showed, reports PTI. While, credit over the same...

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Moneylife Digital Team 26 June 2012
Chairman and managing director HS Upendra Kamath inaugurated 100 branches in FI villages of Mandya district in Karnataka   Bangalore: Vijaya Bank has announced opening of 171 ultra small branches in a single day under the Financial Inclusion (FI) villages initiative in different parts...

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Moneylife Digital Team 26 June 2012
Depositors parking money in the 271-364 days maturity will be paid interest of 8.75% per annum against the earlier rate of 8.25%   Mumbai: In a surprising move, the South-based private sector lender Lakshmi Vilas Bank announced a 0.50 percentage point increase in deposit rates in a...

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The RBI should also implement measures to avoid UK-like incidents happening here More than 12 million bank customers in the UK were in for a surprise last week when they found that they could not operate their accounts due to malfunctioning of banks’ software, resulting in a chaos at...

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Moneylife Digital Team 25 June 2012
The Finance Ministry expects around 60,000-80,000 white-label ATMs to roll out in the next six to eight months   New Delhi: Non-banking entities, which have been allowed by RBI to operate ATMs on behalf of banks, are expected to open 60,000-80,000 automated teller machines in the next...

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Moneylife Digital Team 21 June 2012
The RBI has given an in-principle approval to Morgan Stanley India to enter commercial banking. So far, Morgan Stanley has been an investment banker in India. The permission is a big coup for Morgan Stanley India chief executive officer Dr PJ Nayak, who is credited with building Axis Bank...

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Moneylife Digital Team 21 June 2012
The RBI said all rural branches of banks will have to impart financial literacy. This move comes after the central bank found Financial Literacy and Credit Counselling Centres (FLCC) were located in the urban and semi-urban areas. “Banks may consider setting up need based FLCs in other...

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Moneylife Digital Team 20 June 2012
Karnataka Bank has made a mockery of RBI’s recent directive deadline to put up names and addresses of unclaimed and inoperative accounts. What about your bank? Check out and let us know If you thought that the recent Reserve Bank of India’s (RBI) directive to banks would make it easier for...

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MDT/PTI 19 June 2012
Pre-paid cards, which are convenient alternatives to cash and cheques, are mainly issued by banks and Non-Banking Financial Companies (NBFCs)   Mumbai: Making life easier for people, the Reserve Bank of India (RBI) has allowed holders of pre-paid payment cards, to deposits school and...

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MDT/PTI 19 June 2012
Consumers in the US can use the WesternUnion.com website to send money to family and friends in India using their bank accounts without incurring a transfer fee   Mumbai: Global payment service provider Western Union announced a money-saving option for people in the US who want to...

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MDT/PTI 18 June 2012
Having a bank account for every family will help the government and its agencies to use it for electronic fund transfer of wages, salaries or payments to suppliers.   Mumbai: In an ambitious move, the Finance Ministry has instructed all the lenders to ensure that at least one person...

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MDT/PTI 18 June 2012
While SBI cut lending rates for SME and agriculture loans ahead of RBI policy, there is no immediate change in the home loan and auto loan Mumbai: Days ahead of the Reserve Bank of India (RBI) reviewing the interest rate, the country's largest state-run lender State Bank of India (SBI)...

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