Gujarat High Court has criticized the practice of government

Gujarat High Court has criticized the practice of government nominating members of political parties as non official directors on boards of Public Sector banks, saying it sends a wrong signal. Non official directors are usually appointed to represent the interests of depositors. They are required to possess special knowledge or practical experience in various fields.(BL250209)

ICICI Prudential Life Insurance and PNB

ICICI Prudential Life Insurance and PNB have entered into an arrangement to enable policy holders to make payment of premium through the branches of PNB. In the first phase the facility would be available in Punjab,UP,Uttaranchal, Haryana and WB.(BL270309)

Several private banks have reduced the credit limits

Several private banks have reduced the credit limits of card holders and it appears that many customers are yet to be informed. The banks in question are HSBC, ICICI, HDFC and Standard Chartered.(BL270309)

RBI will for the first time

RBI will for the first time put into circulation two new coins of Rs 10 each issued by the government. Each coin will weigh 7.71 gms and the outside diameter will measure 27 mm.(BS270309)

From 1st April 2009 use of third party ATMs would be free.

From 1st April 2009 use of third party ATMs would be free. (BS270309)

In case you are planning to buy a house

In case you are planning to buy a house with a loan from SBI in an environment friendly residential project which has been rated by the Indian Green Building Council, then the bank is willing to provide benefits like reduced margins, softer interest rates and zero processing fees.(BL270309)

Borrowers from the IT sector

Borrowers from the IT sector who have taken housing loans and have been laid off can have their loans restructured, meaning they would be given additional time for adjustment of their loans according to spokesperson of Indian Overseas Bank.(BL280309)

OBC has also decided to reduce its PLR from 12.50% to 12.25%. (BL280309)

OBC has also decided to reduce its PLR from 12.50% to 12.25%. (BL280309)

Three Kolkata based banks

Three Kolkata based banks have reduced their prime lending rates effective 1st April 2009. While UCO Bank has reduced its PLR by 50 basis points to 12%, United Bank and Allahabad bank have cut their rates by 25 basis points to 12.25%.

HDFC reduces its prime lending

HDFC reduces its prime lending rate by 50 basis points to 14% wef 25-03-09. The cut in rates will accrue to all existing floating rate customers over the next 3 months. (BL250309)

RBI is planning to expand cheque

RBI is planning to expand cheque truncation system to 6-7 centres in the country after the success in NCR. At present 70% of the cheques by volume in NCR are cleared through CTS. Cheque truncation system would be next in Chennai. (BL240309)