ICICI Bank cuts lending rates by half a percentJune 4th, 2009 MUMBAI - India's largest private sector lender ICICI Bank has cut the floating reference rate (FRR) by 50 basis points, including the floating home loan rate, the company announced Thursday. The revised FRR will be 12.75 percent as against 13.25 annually, the bank said in a regulatory statement.
SBI slashes deposit rates by 50 basis pointsMay 13th, 2009 MUMBAI - State Bank of India (SBI), the country's largest lender, slashed deposit rates by 50 basis points on various maturities Wednesday. The new interest rate will be effective from May 18, the bank said in a regulatory statement.
SBI may review rates by May-endMay 8th, 2009 KOLKATA - State Bank of India (SBI), the country's largest lender, may review rates by May-end as it has seen a steady rise in deposits last fiscal, a top official said here Friday. 'Our deposits are growing at fantastic rates; we see an excess of supply over demand,' SBI chairman O.P.
SBI slashes deposit rates by 25 basis pointsMay 2nd, 2009 MUMBAI - The country's largest lender State Bank of India Saturday said it has cut deposit rates by 25 basis points (bps) effective from Monday. The new interest rate, for a deposit of 15-45 days, will be 3.75 percent, while deposits up to 10 years will fetch interest of 8.25 percent, SBI said in a statement.
ICICI Bank's Kamath joins Infosys as directorMay 2nd, 2009 BANGALORE - Infosys Technologies Ltd appointed K.V. Kamath, non-executive chairman of ICICI Bank, as an additional director to its board, the IT bellwether said Saturday.
PNB reduces lending rate by 50 basis pointsApril 30th, 2009 NEW DELHI - The Punjab National Bank on Thursday reduced its benchmark lending rate by 50 basis points to 11 percent. The Benchmark Prime Lending Rate (BPLR) has been slashed from 11.5 per cent to 11 per cent effective tomorrow, the bank said in a statement.
India's ICICI bank quarterly profit down 35 pct on low fee income, braces for more bad loansApril 25th, 2009 India's ICICI bank quarterly profit down 35 pctMUMBAI, India — ICICI Bank Ltd., India's largest private bank, said Saturday that its quarterly profit slid over 35 percent as the global financial crisis eroded fee income in commercial and retail banking. The bank said it was also bracing itself for rising bad loans by increasing provisions.
ICICI asked to compensate consumer for deficiency of serviceApril 6th, 2009 NEW DELHI - A consumer who was penalised by the ICICI bank despite cancelling her loan was awarded compensation by the consumer commission Monday which found the bank guilty of deficiency of service in the case. Kiran Sikri had applied for a car loan from the ICICI bank but due to the ongoing recession she requested the bank to cancel the loan.
ICICI Bank urges government to unveil borrowing plansApril 4th, 2009 KOLKATA - India's largest private lender ICICI Bank Saturday urged the government to spell out 'how it plans to manage its borrowings'. 'There are concerns on the impact the government borrowings will have on liquidity, pushing up interest rates,' K.V.
Farmer denied bank loan, commits suicide in OrissaMarch 1st, 2009 BHUBANESWAR - A 35-year-old farmer committed suicide in Orissa after a bank allegedly denied him a crop loan, a newspaper report said here Saturday. Niranjan Das, a resident of Baladuan village in the coastal district of Keonjhar, was anxious over the past few days after a local bank refused to give him a crop loan of Rs.25,000, Oriya daily Sambad reported.
Punjab National Bank cuts car loan rates by 50 basis pointsMarch 1st, 2009 NEW DELHI - Public sector lender Punjab National Bank (PNB) has lowered interest rates for car loans by 50 basis points, effective from Sunday. 'The interest rate on car loan would come down from 11-11.5 percent to 10.5-11 percent, with effect from March 1,' PNB said in a statement Saturday.
Union Bank cuts new home, car loan ratesMarch 1st, 2009 NEW DELHI - Public sector lender Union Bank of India has lowered interest rates on new home loans by 25 to 100 basis points and car loans by 125 to 150 basis points. The new rates would be effective from Sunday, the bank said in a statement Saturday.
First digital Lok Adalat to be held in Delhi SundayFebruary 6th, 2009 NEW DELHI - India's first digital Lok Adalat, which will be completely paperless, will be held here Sunday to try civil and criminal cases related to ICICI Bank, an official said. 'In this Lok Adalat, both criminal cases and civil suits would be taken up.
ICICI Bank posts 50 percent growth in CanadaDecember 31st, 2008 TORONTO - Defying market trends, ICICI Bank posted 50 per cent growth in Canada in 2008, crossing $ 6 billion in assets. Rated as one of the best foreign banks operating in Canada, ICICI Bank (Canada) is a 100 per cent subsidiary of the parent bank in India.
ICICI Bank, LIC Housing cut home loan ratesDecember 30th, 2008 MUMBAI - Two more lending institutions - ICICI Bank and LIC Housing - Wednesday cut their interest rates on home loans by up to 75 basis points (bps). While LIC Housing Finance cut rates for existing home loan borrowers by 75 bps effective Thursday, ICICI cut rates by 50 bps with immediate effect.
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