State Run Banks saw a Big Drop in Retail Loan Demand after Note Ban

After demonetisation on 8 November, daily enquiries for retail loans at govt banks dipped to 23,660 in the rest of the month, compared to 46,784 in the first eight days. The days following Prime Minister Narendra Modi’s demonetisation announcement on 8 November have seen a drop in demand for retail loans, including home loans. For public sector lenders, average daily […]

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Niti Aayog Plans Rs 1 Crore Prize for e-Payments

The Niti Aayog has planned an incentive scheme, including a Rs one crore prize, to those who use digital payments systems the most as the government steps up measures to push electronic transactions. It has asked the National Payment Corporation of India (NPCI) to conceptualize and launch the programme to incentivize digital payments. Sources said Rs 125 crore would be […]

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PNB, South Indian Bank lower lending rates for Dec

Punjab National Bank has cut the marginal cost of funds based lending rate (MCLR) by 0.05-0.10 percentage points for December across maturities of various tenors.  The bank has reduced the marginal cost of funds based lending rate with effect from December 1, 2016, it said in a regulatory filing. For a tenor of five years, the new MCLR is down by 0.05 per cent to […]

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