HDFC Hikes Lending Rates

HDFC BankIndia’s largest house finance banking company HDFC has announced raised lending rates by 75 basis points for new loan seekers, and on the other hand, the interest rate is up 50 bps for the existing customers.

The 50 bps hike will translate into a Rs 32 hike each month on a loan of Rs 1 lakh borrowed for 20 years. Yet HDFC’s after hike rates are cheaper than its nearest rival ICICI Bank which annunciated a rate hike last Week. Last week, ICICI Bank increased its benchmark advance rate to 15.75%, while Yes Bank hiked its PLR to 14.75%. However, the state-owned banks are yet to consider their lending rates.

Organization’s Health-Unawareness Among CEOs

According to survey, “In the Dark: What many boards and executives still don’t know about the health of their businesses”, lack of high-quality non-financial information has caused many board members and senior executives to be unaware of the overall health of their organization.

The second edition of survey, released on Tuesday, is developed by Deloitte Touche Tohmatsu in conjunction with the Economist Intelligence Unit. The 78% of the CEOs surveyed say that just financial indicators do not adequately capture their company’s strengths and weaknesses.

SBI Jacks Up Personal & Car Loans

State bank of IndiaThe State bank of India announced on Wednesday that there’s going to be a small rise in rates for car loans and personal loans.

The MD of SBI said: “we have announced like in benchmark prime lending rates by 75basis points…Consequently, we will be raising rates by 75 basis points on an average.” Mr. Aggarwal added, “This interest rate cycle has peaked in economy and the rates are likely to stabilize at this level.”

SBI is going to raise interest rates in some schemes. SBI had also announced 0.75 % in its benchmark prime lending rate to 12.25% last month.

Free Music Downloads From EMI, Apple

MusicEMI Group and Apple Inc. takes a significant step by releasing higher-fidelity tunes specifically designed to play on any music player or computer. EMI Group & Apple is making its entire digital collection available without the anti-privacy software. Steve Jobs, CEO Apple Inc, and EMI Group Executives, on Monday, announced that EMI music will become available on Apple’s iTunes store without digital rights management (DRM) from May, 2007. This deal will also pressurize the other record labels to open up and offer DRM-free music.

Central Group To Route Non-Life Claim Shortly

The non-life insurance industry has decided to contract out resolution of accidental reimbursement claims to a central body to lessen losses bobbing out of large awards.
The central agency, which is the General Insurance Corporation’s subdivision, services all reports for payment owing to accidents caused by commercial vehicles. The regulator has been directed the industry to pool all gains or losses getting up motor third-party liability insurance.
Insurance Regulatory and Development Authority stated that the motor insurance pool will get into effect from April 1 and will be applicable to all commercial vehicles that would include all vehicles makes and classes.

ICICI Prudential changed its name

Prudential ICICIPrudential ICICI Mutual Fund has been assigned a new name ‘ICICI Prude


News in Focus

Ashwani Gujral: BUY Britannia, Asian Paints; SELL Axis Bank, HDFC and Tata Steel

Market expert Ashwani Gujral has suggested two BUY calls and three SELL Calls for today’s trading session.

Bharti Telecom to raise USD 1 billion by Selling 2.75 percent stake in Bharti Airtel

Bharti Telcom, the promoter group company of telecom major Bharti Airtel will sell 2.75% stake in the company to raise USD 1 billion.

ITC has signed a share purchase agreement with Sunrise Foods Private Limited to acquire the spices company with strong presence in Eastern India. Sunrise Foods has been in the market for nearly 70 years and the company has a strong portfolio of blended and natural spices. ITC will pay and estimated Rs 1,800 to 2,000 crore for acquisition of Sunrise Foods. ITC has been improving its product portfolio and pan-India presence in FMCG sector and acquisition of Sunrise Foods will give it a strong foothold in East

ITC has signed a share purchase agreement with Sunrise Foods Private Limited to acquire the spices company with strong presence in Eastern India.

Caesars Entertainment and Wyndham Resorts extend rewards program through 2021

Casino giant Caesars Entertainment Corporation has confirmed that it has extended its rewards partnership with Wyndham Resorts through 2021 to allow members of both loyalty programs to continue red

Maruti Suzuki Hansalpur, Gujarat Facility Starts Operations from today

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South Korea’s Kangwon Land Casino gets permission to extend opening hours

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Microsoft Windows Major Update for 2021 Codenamed Iron (Fe); Small Update Could Start Rolling Out Next Week

Microsoft has codenamed the next major update for Windows 10 operating system as Iron (Fe) and this update could be offering during first half of year 2021.