Tag Archives: ICICI Bank

Now, ICICI Bank customers to get personal loans of up to Rs 15 lakh at ATMs

ICICI Bank, India’s biggest private segment bank, will now offer moment disbursal of individual advances of up to Rs 15 lakh at their ATMs.

Sensex tanks 546 points on global sell-off over Fed rate concern

Market benchmark Sensex nosedived by almost 546 points to 28,251.31, while Nifty broke below the 8,700-level in the opening trade on Monday on heavy selling after revived speculation about a possible U.S. rate hike.

Moreover, the rupee depreciating by 25 paise to 66.93 against the dollar in opening trade at the forex market also had a bearing on the sentiment.

ICICI Bank crosses Rs 1 lakh crore mortgage lending milestone

NEW DELHI: ICICI Bank today said it has become the first lender in the private sector to cross the milestone of Rs 1 lakh crore mortgage loans.

“ICICI Bank today announced that it crossed the milestone of disbursing mortgage loans of over Rs 1 lakh crore, a first among private sector banks in the country,” it said in a statement.

Read full article: Economic Times

No more lending rate cuts this fiscal: SBI chief

After reducing its base rate by 40 basis points last year, State Bank of India has ruled out any tinkering with its lending rates in the remaining months of the current fiscal year.

No more lending rate cuts this fiscal SBI chiefThe nation’s largest lender also ruled out going ahead with its share sale plan this fiscal.

Last October, SBI had reduced its base rate by 40 basis points, from 9.70% per to 9.30%.

“I don’t really think (base rate will be cut) so, but maybe once we cross the year-end then we will see,” SBI Chairperson Arundhati Bhattacharya told reporters after opening the second InTouch branch at Colaba in South Mumbai on Friday.

The rate reduction by SBI was following a 50 bps repo rate cut by the RBI on September 29.

Earlier this week, private sector HDFC Bank reduced its base rate by 0.05% to 9.30%, matching with that of SBI, 5 bps lower than its private sector rival ICICI Bank, which is maintaining its minimum lending rate at 9.35%.

Talking about the new base rate calculation based on the marginal cost of funds, Bhattacharya said the formula will not make a huge amount of difference on base rate but will help in transmission. “Some more amount of transmission will definitely happen but I don’t think it is going to be humongous.”

Read full article: DNA India