Home loan rates: State Bank of India (SBI), India’s largest lender, has recently announced a reduction in its External Benchmark-based Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR) for various loans, including home loans. The revised lending rates will come into effect on February 15, 2025. This decision follows the Reserve Bank of India’s (RBI) … Read more
The surge in retail loans, particularly among GenZ and Millennials, has been a significant trend in the financial sector. This demographic is increasingly drawn to unsecured lending options, facilitated by fintech companies and NBFCs, offering quick and convenient access to credit. However, this ease of access has led to a rise in defaults, highlighting the … Read more
The Reserve Bank of India (RBI) has directed all banks and regulated entities that it cannot levy additional fees on loans that are not previously disclosed in the Key Fact Statement (KFS). It said that from October 1, 2024, banks will be bound by the terms of the loan indicated in the Key Fact Statement … Read more
Mumbai: HDFC Bank chief executive Sashidhar Jagdishan on Tuesday unveiled his boldest leadership overhaul in more than three years to help capture synergies with the bank’s mortgage-financing parent. This will strengthen a retail-focused accountability structure that will enhance access to deposits. The chief executive has split retail loans into mortgage and non-mortgage segments, with two … Read more
Mumbai: Indian lenders, led by HDFC Bank, continued to report strong credit growth in the March quarter on the back of robust pick-up in retail and corporate loans. HDFC Bank Monday said its March-quarter advances climbed 17%, taking its total loan book to ₹16 lakh crore. The lender had a loan book of ₹13.66 lakh … Read more