Andhra Bank will be selling gold coins

Andhra Bank will be selling gold coins through 162 branches initially in 4gm, 8gm, and 10gm denominations competitively priced and cheaper by Rs 1000 compared with those sold by some private banks. The gold coins imported from Switzerland would carry an Assay certificate guaranteeing purity on par with international standards. ( source BL 020109)

Bank held responsible by banking

Bank held responsible by banking ombudsman for delivering debit card and PIN to unauthorized persons at the mailing address of the card holder. ( source 301208)

High interest rates and the economic slowdown

High interest rates and the economic slowdown have forced banks especially the private and foreign players, to scale down loan growth to check defaults. As a result Direct Selling Agents DSAs who were responsible for originating over 30 per cent of retail loans have been badly hit. ( source BE 291208)

SBI is planning to set up 383 internet kiosks at atm centres

SBI is planning to set up 383 internet kiosks at atm centres located at railway stations across the country within the next couple of months. In addition to ticket reservation facility, other internet banking facilities would be available. The bank is also planning to open 300 more atms over the next few weeks taking the total no. Of atms to 10,000 (source bs281208)

Certain credit card issuers are reducing the benefits

Certain credit card issuers are reducing the benefits available to customers. While certain banks are withdrawing the basic cash withdrawal facility or lowering them, others are contracting the rewards programme to keep a check on unsecured loans. ( source BS 311208)

Rbi cuts repo rate by 100 basis points

Rbi cuts repo rate by 100 basis points to 5.5 per cent and the reverse rate to 4 per cent with immediate effect.Cash reserve ratio crr also cut by 50 basis points to 5 per cent From 17th january 2009. (source bs 030109)

Public sector banks have brought down interest rates in housing loans

Public sector banks have brought down interest rates in housing loans to stimulate demand in the housing sector. Loans upto Rs 20 lakhs will be available at interest rates between 8.5-9.25 per cent a year for tenures upto 20 years for the first five years. Offer would be valid for new loans upto 30-06-2009. Margin would be 10 to 15 per cent with no processing charges and no prepayment penalty. There would also be free life insurance cover for the outstanding amount. ( source BL 161208)