Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

US markets end down; ICICI Bank soars 6%
US stocks slipped on Wednesday after a surprising reduction in an index of Midwest business activity, but buying of technology bellwethers like Cisco Systems at the end of a strong quarter however limited the losses.

payday loans online
Singur land not 'formally' sought: Industry minister
The West Bengal government had not sought return of the land at Singur from Tata Motors ‘formally’, said West Bengal commerce and industry minister Nirupam Sen, a day after Ratan Tata said the government had not approached for the land. Speaking on the sidelines of a seminar organized by Assocham in association with the Bengal Chamber of Commerce & Industry and Merchants’ Chamber of Commerce, Sen said, though the government had not formally asked for the land, the company had been informed about the Bhel proposal and later the Railways proposal. Sen said, unless the Railways submitted a formal proposal, the government would not ask for the land back. With Sen’s comments, it appears that Singur was once again in limbo, as Railways has made it clear that it would not visit the land as it belonged to Tata Motors.

News of the day

Sreelatha Menon: The green necklace
Sreelatha Menon / New Delhi December 06, 2009, 0:25 IST
Online Business

Race to lower car loan rate hots up

A day after ICICI Bank cut rates, Axis Bank follows with a 50-75 basis points cut. - ICICI, Axis cut car loan rates - ICICI-First Data look at 500,000 PoS terminals by 2015 - Union Bank signals rise in deposit rates - 2000-09: The game changers - A dozen banks to get new chiefs this year - Sebi allows 16 banks to accept ASBAs Car loans could soon go the home loans way with private lenders scrambling to match each others’ rates. Just a day after India’s largest private sector lender, ICICI Bank, cut auto loan rates, Axis Bank followed with a 50-75 basis points (bps) cut. The country’s third-largest private sector lender is offering car loans at 10-10.5 per cent depending on the category of the vehicle and tenure of the loan. Yesterday, ICICI Bank had cut auto loan rates by 25-50 bps to 9.5-11.5 per cent. “The cut is not in response to any player’s move. Based on customer research and interactions as well as the market feedback, we feel this is the appropriate time to offer lower rates for our customers,” said Manju Srivatsa, president, Retail Banking at Axis Bank. A spokesperson for ICICI Bank said, “Our auto loan rates are in line with the competition and the payout (to dealers), at an average of 2 per cent, is in line with the competition.” HDFC Bank, which is one of the largest players in the auto loan market, offers loans at 9-11 per cent depending on the category of the vehicle and the tenure of the loan. Axis Bank is aiming to disburse Rs 1,000 crore auto loans in the coming quarter. According to Srivatsa, the bank’s auto loans book has been growing at 35 per cent an a year-on-year basis “This promises to be an exciting space with a lot of manufacturers coming up with new models,” said Srivatsa. Faced with rising delinquencies and collection problems, ICICI Bank had more or less withdrawn from the auto loans market. It is only in the past two months that the bank has re-entered the market. ICICI Bank Managing Director and CEO Chanda Kochchar has said the bank is looking to grow its auto and home loan books.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009