The consistent growth of remittances has caught the attention of many banks in India. The latest data pointed out that Remittance flows into India were $11.2 billion in the first quarter of the fiscal up from $9.3 billion in the

The Orissa government has urged the centre to wave off cooperative loans pending against weavers. Loans amounting to Rs. 285 crore, extended by several weavers' cooperative societies are still left for recovery in the state.Arati Ahuja, the textiles and handloom

India's largest lender, State bank of India (SBI) has decided the share swap ratio for the merger of its associate State Bank of Indore with itself. According to the share swap ratio, for every 100 shares held in State bank

Rating Agency Moody said that the Reserve banks stricter norms regarding provisions for non performing loans and for loans to realty sector would decrease the banks' profits. Moody's said that the increase in provisioning requirement was expected to have a

Several leading public as well as private sector banks are cutting down their loan growth targets for the fiscal ending March 2010. The country's largest lender, State Bank of India is not amongst these banks and says that it will

A credit score is a number that helps lenders to estimate whether you will make your loan payments on time or not. It represents your creditworthiness. A credit score is derived by the information contained in your credit report.Credit scores

Leading public sector banks like State bank of India (SBI) and Punjab National Bank (PNB) are planning to withdraw special schemes that carry interest rates as low as 8 percent.The banks are planning to increase the rates by January in

The country's largest lender, State bank of India (SBI) saw a rise of 10 percent in income from bonds and currency trading, despite the fact that profits from lending to corporates and individuals dropped. The bank's non performing assets increased.

In the wake of rising delinquencies, banks are going slow on credit card sales. Banks do not want to take risk by granting unsecured loans.The credit card firms have also become wary of payment defaults. The companies now plan to

According to bankers, the reserve bank's direction to increase provision for commercial real estate property might compel them to hike interest rates on realty loans in the coming months.These loans consist of lending to builders for construction of commercial properties