Bank of Baroda hikes MCLR up to 30 basis effective December 12 Public sector lender Bank of Baroda (BoB) has decided to increase its marginal cost of funds-based lending rate (MCLR) by up to 30 basis points (bps) across tenors. This hike by the Mumbai-based lender is steeper than compared upto 15 basis points upward revision made in November ...

Forex reserves at a three-month high; $11 billion added in a week The Reserve Bank of India’s foreign exchange reserves rose $11.02 billion to $561.16 billion in the week ended December 2, marking their highest levels since August 26. The sharp increase in the foreign exchange reserves was primarily on account of a jump in the RBI’s ...

State Bank’s board to take call on raising capital via tier I bonds State Bank of India (SBI) said its board will meet on December 14 to decide on raising capital through Tier I bonds. As per a regulatory filing, SBI said it will seek “approval for raising of Additional Tier 1 (AT 1) capital by way ...

ADB approves $250 mn policy-based loan to strengthen logistics sector The ADB on Friday said it has approved a USD 250 million policy-based loan to support India’s wide-ranging reforms that aim to strengthen and modernise the country’s logistics infrastructure, improve efficiency, and lower costs. The loan will finance the first sub-program of the strengthening multimodal and integrated ...

SBI Card revises reward points rules for these credit cards from January 1 – Reward points rules revised [ad_1] Cashback credit cards allow you to earn cash from the money you spend on your credit card, by either paying you back a percentage of what you spend or as reward points. Simply put, when you buy something using your cashback ...

Rupee gains 10 paise to close at 82.28 against US dollar as it weakens The rupee appreciated by 10 paise to close at 82.28 (provisional) against the US dollar on Friday, tracking the weakening of the American currency in the overseas market. Forex traders said muted domestic equities and foreign fund outflows weighed on investor sentiments and ...

credit card late payment fee: Missed credit card payment due date? You can still avoid late payment fee; here’s how [ad_1] It can be difficult to keep a track of all the different due dates of multiple bills each month. If you have more than one credit card, you can easily forget when a credit card payment is due. If ...

kotak rd interest rate: Kotak Mahindra Bank revises RD interest rates: Check details here [ad_1] The Kotak Mahindra Bank has revised the recurring deposits (RD) interest rates. The interest rates have been revised from December 9, 2022. Post revision, the private sector bank is offering 5 per cent interest per annum for RD tenure of 6 months, and 5.75 per ...

Banks need to scale up investments in technology, says RBI’s MK Jain Indian banks and financial institutions should increase investments in technology as their legacy systems may not be suited to rapid changes in product design and computation, said MK Jain, deputy governor of the Reserve Bank of India. Banks and financial institutions should foster continuous innovation, ...

kotak mahindra bank: Kotak Mahindra Bank revises FD interest rates from today: Check details here [ad_1] Kotak Mahindra Bank has revised the interest rates offered on its fixed deposits (FDs). The revised interest rate is applicable on a deposit of less than Rs 2 crore. The revised interest rates on FDs are effective from today i.e., December 9, 2022. The ...