Banking & Savings

Banks’ borrowing rates will fall with lending rates: Jaitley

New Delhi, Aug 3 (IANS) The latest cut in savings bank interest rates by state-run State Bank of India (SBI) comes in the context lower inflation and lending rates, Union Finance Minister Arun Jaitley said on Thursday. “When lending rates go down, the borrowing rates will obviously come down. These are all inter-connected,” Jaitley said in the Rajya Sabha during ...

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Kotak holds 6% rate on Rs 1L-1cr deposits

Mumbai: Kotak Mahindra Bank has lowered interest rates on savings deposits with balances above Rs 1 crore to 5.5% from 6% earlier. The bank has decided to continue offering 6% on savings accounts with balances of over Rs 1 lakh, despite a sharp reduction in interest rates in the system. “Our focus continues to be on building a quality retail ...

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National chit fund law on the anvil

The Lok Sabha on Thursday passed the Banking Regulation (Amendment) Bill 2017 that seeks to give banking regulator and the government more powers to deal with insolvency cases. The bill seeks to replace the NPA Ordinance promulgated on May 7.The government is also in the process of drafting a national chit fund law to save poor people from dubious schemes. ...

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Banks’ borrowing rates will fall with lending rates: Arun Jaitley

New Delhi: The latest cut in savings bank interest rates by state-run State Bank of India (SBI) comes in the context lower inflation and lending rates, Union Finance Minister Arun Jaitley said on Thursday. “When lending rates go down, the borrowing rates will obviously come down. These are all inter-connected,” Jaitley said in the Rajya Sabha during Zero Hour in ...

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SMEs to benefit from industry first family promo by Access Bank |

Divisional Head for Retail Banking at Access Bank Ghana, Mr. Stephen Abban Small and Medium Scale businesses (SME’s) in Ghana will for the first time be allowed to participate and win in a consumer promotion from a Bank in Ghana. The Access Bank ‘AbusuaAkyɛdeɛ’ promotion, which was launched on July 5 has earmarked a tall list of prizes and rewards ...

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