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Moneylife Digital Team 13 July 2012
Tata Power customers from Mumbai can now pay their bills from anywhere, anytime at their convenience using Itz Cash Card Tata Power said it is offering one more payment facility for its customers from Mumbai through Itz Cash Card.   Tata Power customers can now make their bill...

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While genuine customers are made to run around for opening new accounts, banks continue to encourage dubious accounts knowing fully well that they are used to launder black money A bunch of tech-savvy thieves has been exploiting a design flaw in the working of automated teller machines...

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Under the tie-up, people can send money through any agent location of UAE Exchange and Financial Services called Xpress Money to a registered mobile number in India   Mumbai: Private sector lender Axis Bank said it has entered into a tie-up with UAE Exchange and Financial Services to...

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For salaried individuals the fee starts as low as Rs150, inclusive of taxes, which can be paid by the customer through SBI internet banking or debit card, SBI said   New Delhi: State Bank of India (SBI) launched a new service that will facilitate filing Income Tax returns online,...

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SBI will not levy any charge for breaching minimum balance criteria for savings bank accounts   New Delhi: In order to attract new customers, State Bank of India (SBI) has done away with minimum balance criteria for saving bank accounts, reports PTI. The bank will not levy any...

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While seven relatively small private banks have introduced customer-friendly interest rate policies, the big banks have yet to respond to it, says the RBI governor   Chennai: The Reserve Bank of India (RBI) wants larger banks to come out with customer-friendly interest rate policies...

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Even after the introduction of the base rate system there is lack of transparency in the customer-specific spread charged to a borrower over the base rate Chennai: Concerned over the lack of transparency in bank lending rates, Reserve Bank of India (RBI) Governor D Subbarao said the...

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Paul Kiel (ProPublica) 05 July 2012
Last month, the government released information on the compensation victims of the banks' foreclosure practices might receive. For homeowners, it turns out that it's crucially important just how the bank messed up. Can you put a price on the damage caused by a wrongful foreclosure?...

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According to the Banking Ombudsman for New Delhi, if the bill is pending then customer always runs a risk of paying much more if the judgement goes in favour of card provider New Delhi: Credit card users should pay their bills first and then lodge the complaint in case of a dispute with...

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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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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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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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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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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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