Prepayment penalty, a nightmare suffered often by individual borrowers of home or car loans, is set to end. In a meeting with the Reserve Bank of India held on Monday, banks agreed to waive prepayment charges on floating rate loans, the central bank said today.

No prepayment penalty on floating home, auto loans

Business Standard

The Reserve Bank of India (RBI) said on Tuesday loans that are fixed in the initial years and become floating later would be considered as teaser loans and banks must make provisions as mandated by the regulator.

Teaser loans to attract additional provisioning: RBI

Swiss private bankers are pursuing acquisitions to boost profits as punitive tax agreements make the nation less attractive for rich foreign clients.

Swiss bankers pursue buys to get over 'growth or die' dilemma

Bank deposits showed robust growth over the August 12-26 fortnightfortnight while credit offtake declined in the same period on account of high lending rates.

Bank deposits remain robust, credit offtake falls

Religare Finvest Ltd (RFL), a non-banking finance company wholly-owned by Religare Enterprises, plans to remain focused on the small and medium enterprises (SME) sector.

Religare Finvest to remain focused on SME sector

The rupee today settled at one-year low of 46.16/17 against the US currency, down by 5 paise over last close, as sustained dollar demand from importers and some banks erased its early gains.

Rupee at 1-year low of 46.16 Vs dollar

Press Trust of India

Reserve Bank of India (RBI) Deputy Governor Subir Gokarn on Wednesday said the limit on the franc-euro exchange rate was a measure to deal with temporary factors. Yesterday, the Swiss National Bank had decided to set a limit on the franc at 1.20 against the euro to arrest further appreciation of the currency.

Limit on Swiss franc temporary

Religare Finvest Limited (RFL) is aggressively looking at small and medium enterprises for business growth, as the non-banking finance company wants to strengthen its portfolio across the country in the SME segment.

Religare Finvest looks at SMEs for business growth

The Swiss central bank&rsquo;s decision to cap the appreciation of the nation&rsquo;s currency against the euro may fall short of helping eastern European borrowers repay mortgages denominated in francs and get them to spend.

Swiss franc ceiling may not heal eastern Europe mortgage pain

The Indian Institute of Management, Ahmedabad (IIM-A) on Wednesday published its audited placement data for its three full-time management programmes, the flagship Post Graduate Programme (PGP), the PGP in Agribusiness Management (PGP-ABM), and the PGP for Management Executives (PGPX).

Consulting, finance top recruiters at IIM-A's final placements

India Infrastructure Finance Company Ltd (IIFCL) and Life Insurance Corporation (LIC) have drawn up plans to invest Rs 10,000 crore during 2011-12 in the infrastructure sector, through the take-out financing route.

LIC & IIFCL to invest Rs 10k cr in take-out financing scheme

As Indian banks gear up for the second wave of technological enhancement, their spending is likely to shoot, a little over fifty per cent, to Rs 10,000 crore annually.

Banks' IT spending to surge 50% to Rs 10,000 cr annually

With the demand for funding infrastructure projects pegged at $1 trillion, the regulator and the government should allow new large-size banks and financial institutions in the country, according to N Vaghul, chairman emeritus of ICICI Bank.

Large banks, FI necessary for funding infra plans: Vaghul

Having paid a stiff price in the form of huge provisioning, the country&rsquo;s biggest lender State Bank of India today ruled out relaunching a dual rate scheme for home loans, according to its chairman P Chaudhuri.

SBI not to resume teaser home loan scheme

The country continues to undergo a high-inflation spell, owing to the developed world&rsquo;s policy response to the global meltdown, the government said on Thursday. It asked banks to be alert to the bad debts that may rise due to the RBI&rsquo;s tight monetary policy to cool price pressure.

Be alert on bad debts, FinMin tells banks

The state level bankers&rsquo; committee (SLBC) has held regional rural banks (RRBs) responsible for the slow pace of growth in achieving financial inclusion in Karnataka. The commercial banks, which have RRBs under their fold, should handhold them and monitor their performance closely so that the job of financial inclusion is completed by March 2012 as directed by the Reserve Bank of India (RBI), an SLBC official said.

'RRBs slowing down pace of financial inclusion'

The Associated Chambers of Commerce and Industry of India (Assocham) has said the minimum capital requirement for setting up a micro finance institution (MFI) should be Rs 25 lakh and not Rs 5 lakh as proposed in the draft Micro Finance Institutions (Development and Regulation) Bill 2011.
This apart, the microfinance institutions should be backed with a strong technology intervention for adequate reporting, supervision and regulation, Assocham secretary general, DS Rawat, told mediapersons

Assocham wants strong capital base for MFIs

The government is likely to take a call on infusing capital into the country&rsquo;s largest lender, State Bank of India, in a couple of weeks, according to officials.

Govt to decide on SBI capital infusion

Just a day after banks agreed to waive prepayment charges at a meeting with the Reserve Bank of India (RBI), home loan borrowers are faced with a bigger problem, a rise in equated monthly instalments (EMIs).

The only way EMIs can now go is up

Micro-lenders&rsquo; plans to restructure the loans of their poor customers appears to have hit a hurdle, with the Andhra Pradesh state government asking firms to formally re-submit the proposal.

MFIs' Andhra loans recast plan likely to be delayed

European Central Bank president Jean-Claude Trichet said threats to the euro region had worsened and inflation risks had eased, giving officials the option to take further action should the debt crisis worsen.

ECB: Threats to Euro region have worsened

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