Banks are planning to focus more on home loans below Rs 25 lakhs. Andhra bank is targeting home loans between Rs 10 and 15 lakhs with 0.75% reduction in interest rates. State Bank of Hyderabad is pushing home loans above Rs 20-25 lakhs.( source BL 211108)
Lakshmi Vilas Bank has effected upward revision in its deposit rates on 1to 2 years bucket to 11% for all except senior citizens who would get 0.5% more. Rate revision is effective 21-11-08.( source BL 211108)
SBI is organizing Lok Adalats to recover stressed retail loans not exceeding Rs 5 lakhs. These would be personal ,auto loans which are non performing as on 31-03-2007. Under this one time settlement borrowers are required to pay the principal loan amount with interest waiver depending on the repaying capacity of the borrower.(source BL 221108)
HDFC Bank opens counter for exchange of soiled and mutilated notes at branches in Secunderabad from 25th to 28th November 2008 ( source BL 221108)
Federal Bank in these difficult times is planning to recruit 3000 persons in next 2-3 years. It will be 1000 every year for the next 2-3 years. They are likely to increase their branches to 1000 by 2011 from just over 600 as of now. ( source BL 231108)
Corporation Bank is expanding in states like Rajasthan, MP, WB, Bihar, Haryana, Punjab and HP where presence is poor. From 1026 branches at present they are likely to reach 1400 within 2 to 3 years. ( source BL 231108)
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