New Delhi: Country's largest bank SBI on Wednesday announced reduction in interest rate on fixed deposits by 0.5 per cent for most of the maturity periods, a move likely to be followed by other lenders. However, for deposits between 241 days and one year, the downward revision is 1 per cent. The new rate would be 6.5 per cent as against 7.5 per cent. Of the total nine maturity periods...
01:35 PM, Sep 05, 2012
Ahmedabad: Stating that rising prices should have been controlled faster, RBI Deputy Governor KC Chakrabarty on Saturday said interest rate will be reduced as and when inflation comes down. "As and when inflation rate comes down, interest rates will come down...." he said on the sidelines of an event here. "Our policy rate was 3.5 per cent in 2008. Then inflation went up to 10 per cent, we should have...
03:21 AM, Sep 02, 2012
New Delhi: State-owned Central Bank of India on Friday said it will cut interest rates on housing and other loans by up to 0.5 per cent from September 1. "We have decided to reduce the rate of interest on the car loans. We have decided (to cut)... housing loan rate by 25 to 50 basis on houses between Rs 30-35 lakh. These will be effective from September 1," Central Bank...
04:23 AM, Aug 25, 2012
New Delhi: In a bid to revive investment across the board, Finance Minister P Chidambaram on Saturday asked banks to cut interest rates and keep EMIs at affordable levels to encourage sale of consumer durables that will restart the engine of manufacturing. After a review meeting with the chiefs of public sector banks against the backdrop of slowdown in the economy, he also announced rescheduling of farm loans in drought...
08:29 PM, Aug 18, 2012
Bhubaneswar: Amid widespread demand for a reduction in interest rates by banks, RBI on Saturday said rate cut cannot be predicted at this moment. "You cannot say when the rate cut will come. Wait for our September policy," RBI Deputy Governor HR Khan said on the sidelines of a function organised by the Institute of Chartered Accountants of India (ICAI). The Reserve Bank is scheduled to review its monetary policy...
07:18 PM, Aug 18, 2012
San Francisco: Social networking start-up Pinterest has rolled out versions of its service for Android-based smartphones and for the iPad, its latest move to boost its appeal to a broader audience. An online scrapbook where users can "pin" images and share them with others, Pinterest has grown to about 23 million users in July from about one million a year ago, according to online analytics firm comScore. In its first...
11:19 AM, Aug 15, 2012
New Delhi: To bid farewell to the London 2012 Olympics, Google on Sunday has come up with the London 2012 closing ceremony doodle, which is apparently the last Google doodle this Olympics. Here are the top 10 interesting facts about the doodle and the ceremony that wraps up the so-far spectacularly successful London Games. 1. The doodle features a spate of athletes from different Olympic sports celebrating the last day...
11:53 AM, Aug 12, 2012
New Delhi: State Bank of India on Wednesday slashed lending rates on car and home loans by up to 0.5 per cent, a day after one per cent cut in SLR by the Reserve Bank. SBI has reduced interest rate on home loans of up to Rs 30 lakh to 10.25 per cent from existing 10.50 per cent (after 0.25 per cent concession over the card rate), a senior bank...
09:14 PM, Aug 01, 2012
Mumbai: The Reserve Bank of India has scope to cut interest rates during this calendar year, Governor Duvvuri Subbarao said in a news conference after the central bank's policy review, though he declined to elaborate further. Subbarao said fiscal measures from the government would not necessarily prompt the central bank to take monetary policy action. Earlier on Tuesday, the RBI left key policy rates unchanged, citing persistent inflationary pressures. ...
05:29 AM, Aug 01, 2012
The Reserve Bank of India kept key policy rates unchanged in its April-June quarter monetary policy on Tuesday. ...
01:00 PM, Jul 31, 2012
New Delhi: The Reserve Bank of India (RBI) in its April-June quarter monetary policy on Tuesday left the key policy rates unchanged. However, it has cut the statutory liquidity ratio (SLR) to 23 per cent from 24 per cent earlier. This policy action was by and large in-line with CNBC-TV18 poll. Now, the repo rate or the rate at which banks borrow from RBI remained at 8 per cent while...
11:11 AM, Jul 31, 2012
New Delhi: In a bid to honour Amelia Earhart - the first woman to fly solo across the Atlantic Ocean - on her 115th birth anniversary, Google has today put up a doodle on its homepage that features Earhart climbing up the aircraft "Lockheed 5B Vega," which she used to fly alone across the Atlantic Ocean in 1932. The Google letters take the place of the original registration number of...
11:08 AM, Jul 24, 2012
New Delhi: The Centre for Public Interest Litigation (CPIL) on Tuesday told the Supreme Court that the Presidential reference in the 2G spectrum case to review the apex court's order cancelling 122 licences was not maintainable. The CPIL said that the review of the Supreme Court's verdict in the 2G scam was not permissible by way of a Presidential reference. The Attorney General for India, however, argued that the apex...
02:26 PM, Jul 10, 2012
London: Barclays Plc Chief Executive Bob Diamond quit with immediate effect on Tuesday, the highest-profile casualty of an interest rate-rigging scandal that spans more than a dozen major banks across the world. Outgoing chairman Marcus Agius will lead the search for a new CEO for Britain's third-largest bank, despite having announced his own imminent departure a day earlier, declaring that "the buck stops with me" after Barclays was fined nearly...
02:25 PM, Jul 03, 2012
New York: Netflix, Instagram and Pinterest are using Twitter and Facebook to update subscribers after violent storms across the eastern US caused server outages for hours. Netflix and Pinterest restored service by Saturday afternoon. Instagram used its Facebook fan page to communicate with users of its photo-sharing service. It posted a message on Saturday morning that blamed the electrical storm for the outage and explained that its engineers were working...
09:50 AM, Jul 01, 2012
Mumbai: In a surprise move, country's largest bank SBI on Saturday increased interest rates on select fixed deposits by 0.25 per cent. Deposits under Rs 15 lakh for a period of three years but less than five years will fetch an interest rate of 9 per cent, up from 8.75 percent, State Bank of India (SBI) said in a statement issued. The revised interest rate will be applicable from July...
06:34 PM, Jun 30, 2012
Mumbai: Country's largest lender SBI has cut interest rate on loans to exporters by 0.5 per cent within days of the Reserve Bank increasing the export refinancing limits of banks. "SBI has cut interest rates for exporters by 50 basis points effective last Saturday(June 23, 2012). The decision was taken at asset liability committee(Alco) meeting last Saturday," SBI Chairman Pratip Chaudhuri said. Export credit is linked to the bank's base...
02:27 PM, Jun 28, 2012
London: Loose global monetary conditions are stoking credit and asset price booms in some emerging markets that could lead to a new financial crisis, the Bank for International Settlements (BIS) warned on Sunday. Such a boom-and-bust cycle might have severe global repercussions, not least due to the increased weight of emerging markets in the world economy and in investment portfolios, the BIS said in its annual report. It urged central...
11:20 PM, Jun 24, 2012
Mumbai: Days ahead of the RBI reviewing the interest rate, State Bank of India (SBI) on Friday announced cut in lending rates between 0.5-3.5 per cent, mainly for the small and medium enterprises (SME) and the agriculture sector. However, interest rate on home and retail loans will remain unchanged, the banking leader said, adding they are low and competitive. Announcing the reduction in interest rate, SBI Managing Director and Group...
07:24 PM, Jun 15, 2012
Washington: The first lady's profile on the social networking site went live Wednesday with three boards highlighting photos from around the White House, "great memories" and Father's Day. Mrs Obama captioned some of the photos herself, including recent shots of the Obama family skipping stones and playing minigolf, and older family photos including a wedding day picture. By midmorning, Mrs Obama had more than 1,600 followers on the site. Pinterest...
09:39 AM, Jun 14, 2012
