http://www.itrust.in/forum/forums/show/18.page JForum - http://www.jforum.net
1. Can you suggest the bank that allow to create Fixed Deposit online with different BRANCHES?
(e.g. HDFC, AXIS, DCB, IDBI)
2. The banks that do not charge penalty for Fixed deposit below 5 Lac? (e.g. IDBI, IOB, BOI, OBC)

If you find any bank that offer both of the above features kindly let me know.

Cheers,
Sunil]]> http://www.itrust.in/forum/posts/preList/5209/41532.page http://www.itrust.in/forum/posts/preList/5209/41532.page GMT
Now money I have transferred , I am going to create a fixed deposit of it. My friend informed me that Bank will deduct TDS at the end of the year if interest is more than Rs 10,000 and in my case interest will be more than 10,000

Now my question is how can I avoid this ?. Earlier I was though that I have no earning in India now and if submit some form 15 that will work and bank wont deduct any tax.But now I am unsure so wanted to ask somebody who knows about it]]> http://www.itrust.in/forum/posts/preList/5105/29014.page http://www.itrust.in/forum/posts/preList/5105/29014.page GMT Short sentence or two about the aspect of the system is being tested. If this gets too long, break the test case up or put more information into the feature descriptions.
Prereq:
Assumptions that must be met before the test case can be run. E.g., "logged in", "guest login allowed", "user testuser exists".
Test Data:
List of variables and their possible values used in the test case. You can list specific values or describe value ranges. The test case should be performed once for each combination of values. These values are written in set notation, one per line. E.g.:
loginID = {Valid loginID, invalid loginID, valid email, invalid email, empty}
password = {valid, invalid, empty}
Steps:
Steps to carry out the test. See step formating rules below.
• visit LoginPage
• enter userID
• enter password
• click login
• see the terms of use page
• click agree radio button at page bottom
• click submit button
• see PersonalPage
• verify that welcome message is correct username
PEN:

test case for pen
1)check pen cap should be open
2)check pen nibe should be ok
3)check pen refeel should be properly filled with ink
4)check pen refeel should not leek
5)check there is no air bubble into the pen's refeel
6)check ink flow from refeel should be smooth
7)check nibe point should be clear(no dust)
8)ink should be in liquid format(not in soid state)
9)ink color should be base on requirement
10)if pen is baal pen then open/close button should works
properly
11)refeel size should be feet in pen's size
12)pen's nibe design should be accodring to pen's nibe
space.it should not be loose or tight
13)pen size or shape should be comfortable for the user
to write

ATM:

TC 1:- successful card insertion.
TC 2:- unsuccessful operation due to wrong angle card insertion.
TC 3:- unsuccessful operation due to invalid account card.
TC 4:- successful entry of pin number.
TC 5:- unsuccessful operation due to wrong pin number entered 3 times.
TC 6:- successful selection of language.
TC 7:- successful selection of account type.
TC 9:- successful selection of withdrawal option.
TC 10 :- successful selection of amount.
TC 11:- unsuccessful operation due to wrong denominations.
TC 12:- successful withdrawal operation.
Tc 13 :- unsuccessful withdrawal operation due to amount greater than possible balance.
TC 14 :- unsuccessful due to lack of amount in ATM.
TC 15 :- unsuccessful due to amount greater than the day limit.
TC 16 :- unsuccessful due to server down.
TC 17 :- unsuccessful due to click cancel after insert card.
TC 18:- unsuccessful due to click cancel after insert card and pin no.
TC 19:- unsuccessful due to click cancel after language selection,account type election,withdrawal selection, enter amount

LIFT:

Here I am taking the simplest example of metro rail lift used to get from Ticket floor (TF) to Platform floor (PF). Requirement is passanger should able to use lift to go and come back from Ticket floor to platform floor. Precondition is passanger is on TF.

1) When light is on for the lift and no request has been made to go from TF to PF, button light should Off.
2) When passanger made request for PF, button light should ON.
3) When button light is ON and if lift is available at TF, the door should open.
4) When button light is ON and if lift is not available at TF, the indicator light should indicate the movement of lift from PF to TF.
5) When door opens, it should made a sound.
6) When passanger is in the lift, if passanger press the hold button lift door should not close.
7) If pasanger press the lift close button, it should close immediately otherwise should close automatically after fixed time.
8) If lift fan is ON, and passanger press FAN button it should get OFF or vice versa.
9) Try to call using CALL button to help persons using lift.
10) Now test for overload, if lift is for 10 persons or 100KG weight, try for 11 or 12 persons to use the lift at one time.
11) Lift door should not open when lift is moving, even after pressing lift opening button.
12) Try to use Pass button of the lift to overcome an request.
13) Let lift is at PF, it should not move to TF if no request made at TF and vice versa.
14) Let passanger get in lift from TF anf starts moving to PF, then if other request made to PF, then lift should complete first request first and come back to TF after PF.
15) If electricity get gone, Lift should not make a major jerks and starts working on emergency backup.


[url=http://cegonsoftthreads.phpbb3now.com]Cegonsoft[/url]]]> http://www.itrust.in/forum/posts/preList/5102/27762.page http://www.itrust.in/forum/posts/preList/5102/27762.page GMT Is there any fecility for Home loans that If I do a fixed deposit in the same bank, the loan amount would be calculated for the balance
E.g. If loan Principal amount = Rs. 20 lakhs
If i do fixed deposit for 5 lakhs
Will the interest be calculated for only Rs 15 lakhs, as long as the FD is in that bank?
Please help me out on this
Thanks,
Siva
]]> http://www.itrust.in/forum/posts/preList/5064/16295.page http://www.itrust.in/forum/posts/preList/5064/16295.page GMT
Banks are betting big on the festive atmosphere to compensate for slow loan growth to date, waiving the processing fees, and even reduce the already thin margins. The higher interest rates offered on Fixed deposits as well.

Bangalore-based Vijaya Bank is to attract customers by keeping home loan lending rates unchanged despite the recent rise in base rates. It set the interest rate on loans to 10.75 %, almost to the base level of 10.65 %.

Public sector lender has also launched a "mutual Paddle" in two days, where guests had to get 50 % concession to the processing fees on the spot fines. "We have 165 online loan decision in principle to sanctions on the first day. Quantity sanctions Rs 43 crore was about and we expect cross-RS 100 crore by the end of a two-day offer," said Upendra HS Kamath, Chairman and Chief Executive Officer.

Banks seek to increase credit growth, which has suffered because of high interest rates. Most of them have lowered their credit growth targets for this fiscal year.

Another public sector lender, Union Bank of India, is planning to offer the same direction. "We want to bring in the festive offer deposits and loans, around September-October. Usually these offers are introduced around Diwali, then back to the New Year," said S Govindan, general manager. It is also to launch a mobilization of savings into account.

ICICI Bank, the country's largest private sector lender, has also scheduled the launch of its fixed-cum-floating mortgage system for the start of the holiday season.

Pune-based Bank of Maharashtra has developed a gold mine of the festival to its depositors, offering a maximum of 9.35 % on deposits of three years. The bank said the plan may continue until late October and will be able to collect Rs 2,000 crore worth of deposits. These plans are at a time when high interest rates for deposits have already damaged the growth of low-cost checking and savings deposits.

Banks looking to save costs of collecting deposits total funding for a longer period of relatively cheaper prices. "We have to pay interest at 9.15 % on loans through bulk deposits within three months. But by offering a little more, said an interest rate of 9.30 % of deposits, we are able to borrow for one year, "said AS Bhattacharya, President and CEO of Bank of Maharashtra.

Banks have reduced their growth rate slowed down trade with the following objectives sampling credit the account of increases in interest rates. The Reserve Bank of India has raised rates 11 times politics in the last 16 months, making funds more expensive.
</div>]]> http://www.itrust.in/forum/posts/preList/5035/15791.page http://www.itrust.in/forum/posts/preList/5035/15791.page GMT fixed deposit banks, according to ET Intelligence Group final analysis.

After adjusting for income taxes at a rate higher than 30% of the slab, the deposit rates of banks staterun 'fixed deposit rates for 12 months of work over 6.5%. The current slide in share prices led to consistent dividend paying stocks with HCL Infosystems (HCLI), Ashok Leyland, Indiabulls Financial Services, Shipping Corporation of India and son of a manufacturer of synthetic fibers yields JBF industries tax profits exceeding deposits adjusted at fixed rates.

The dividend yield of Patni Computer is over 34% while for HCLI is 11.2% and JBF - 6.4% ID there. The dividend yield is the ratio of annual dividend per share at current market price of securities. It is a measure of return on equity investment.

Falling share prices are often throw up opportunities for value-based investors, but only after careful analysis. The time-tested strategy is to exploit the erosion of market share and identify the stocks that trade relatively higher dividend yields.

There are over 40 companies in the BSE-500 index currently available in a dividend yield of around 4% or more.

However, investors must take into account certain facts and look at the same time when the high dividend yield stocks. For example, companies that pay dividends extras in a given year may show a sudden increase of hundreds. Patni Computer Systems, a yield of almost 25% complete our list of top dividend companies.

Such a high yield, however, because of its interim dividend of Rs 63 in August 2010, which is higher compared to the performance of RS 3 because of the four previous years. The company distributed the excess cash reserves to shareholders, before its acquisition by Igate in January 2011. Thus, a repetition of a high dividend is unlikely in the short term.

]]> http://www.itrust.in/forum/posts/preList/5034/15790.page http://www.itrust.in/forum/posts/preList/5034/15790.page GMT
They are giving better post-tax returns than NCDs or FDs. But get in for a year or two only.

Debt instruments have become the flavor of the season courtesy of a regime of rising interest rates. Fund houses are focused on launching fixed maturity plans (FMPs) aggressive.

In 2009, only 90 forest management plans launched in 2010, as far as 340th this year in the first eight months, the fund was launched houses as many as 410 plans.

PGF are typically debt securities that invest in different types of securities such as bonds issued by the government and business, and money market instruments such as treasury bills, certificates of deposit and commercial paper.

Investors in these products is a major problem in the right of possession. Dhirendra Kumar, managing director of Value Research Online, the fund rating agency, says: "If you do not need money in the near future (less than a year), it is advisable to go for FMPs tenure longer , ie, one or two years. " FMPs possessions are 15 days in five years.

While fund houses can not give indicative yields of these products, you can get the approximate return. PGF to maturity of one year, offers 9.25 %, while nearly two years (600 days) offered approximately 7 %. For comparison, the State Bank of India to offer 9.25 % for fixed deposits (FDs) for periods of one to 10 years. But there is a catch.

Tax rate will return shortly. So, for the highest income bracket, there is a fee 33 %, which will produce about 6.47 up to 9.25 %. FMP provides the same output can double the benefits of indexing. Tax return to receive two of the inflation indexing performance - is an annual sum is invested and the annual amount of withdrawal. Income tax rate is 10 % without indexation and 20 per cent, and indexing. After-tax returns a year FMP is 8.32 %.

There are a number of non-communicable diseases offer attractive prices. For example, Shriram City Union Finance and Manappuram offers more than 12 % per year. Shriram City will return 12.1 % a year for four years and 11.85 % in three years. Manappuram give 12 % pa for 400 days and 12.20 % in two years.

But because of the tax, he would be back if Shriram City Manappuram and fall to 8.5 %. In addition, these instruments are less liquid than longer terms and more risky in nature.

Another advantage of investing in longer-term arrangements at present, according to Mahendra Jajoo, CEO and Chief Investment Officer (Fixed Income) at Pramerica mutual funds, is that the interest rate cycle is likely to peak out soon. If you need to get locked into one more tool would pay significantly higher returns.


If you do not want to be locked to the current rates in the short term PAF (less than a year) offers nearly 9 %. But remember to choose the option to participate. The tax rate is less than 14.16 %, in contrast to the opportunity for growth. In the case of the latter, you will be taxed on the current record of the investor. The growth option is good for those in lower tax brackets or those non-taxable.

Remember, however, that both the non-convertible bonds and FMPs are listed in the exchange. This means that the problem needs to get out, in the meantime, you can leave it off because of the lack of a vibrant secondary market. In the case of the near future, the output is easier because you can pay a small penalty, and to do so.

Source: [business-standard]

</div>]]> http://www.itrust.in/forum/posts/preList/5029/15700.page http://www.itrust.in/forum/posts/preList/5029/15700.page GMT What happens once i am back and she transfer the money to my account, will this be taxable?

Thanks for your reply in advance,
np]]> http://www.itrust.in/forum/posts/preList/5028/15691.page http://www.itrust.in/forum/posts/preList/5028/15691.page GMT
Fifty-two years, Gyan Prakash Sinha, a consultant company in Kolkata, reflects a more mature breed Indian retail investors. Rotations on the stock market over the past 10 days I did buy more gold and invest in bank deposits, but he does not sell shares and go away. And yet the investment of money safe haven, not a negative reflection on the stock market, but their lives.

"I'm still on the market but did not undertake new initiatives over the past three weeks," said Sinha, who has invested in <strong>fixed deposits</strong> of banks recently. "In 2008, I was invested and derived most benefit. I have become more cautious because of my age and not the market scenario. "

Indian retail investors, a group that uses the first signs of panic and pull money problems, a low-key until now compounded by the middle of a global macro-economic scene. Sensex is the third best performer in the top 20 global indices, and national funds have been buyers.

In seven sessions, foreign funds were net buyers of a single day, while the local funds are purchased for four days. Unlike before, there is no queue in front of the fund for the redemption of units.

"It was a great exit for investors as it was during the crisis of subprime mortgages," said Mark Mobius, executive chairman, Franklin Templeton Investments, he said he already does. "Of course, at times like this, there is a tendency for people to buy. I believe, however, lessons were learned during the crisis in subprime mortgages when people are out and the recovery was so fast that they have not had the opportunity to get back. "

Most of the major market indices, such as the MSCI index and the Sensex Golbal entered a bear market fell 20% from their recent peaks, as they have recovered as the Federal Reserve on Tuesday promised to keep rates low interest, even two years.

This has led to the belief that stocks can go as fast as they did in 2009 due to policy measures. Or a garden safe investment increased from 11% in the last two weeks. Developments in the Indian investor is also reflected in the number of systematic investment plans of mutual funds.


"I am investing through SIP route that led to my loss is limited, even if the market were to crash," said Nitin Mehta, a chemical engineer from Mumbai. But Mehta is not new commitments for action, there are high-yield fixed income securities, including state banks, which are considered to support the sovereign, even if the deposits are insured only RS 1 lakh.

"I parked my money in fixed deposits with SBI, it offers a good risk-free rate of interest for the current situation, and not to go down the drain," says Mehta.

SBI and its partners offer more than 9% across various tenors. This is the return of negative 8.02% issued by the Sensex this year and 17% in 2010.


</div>]]> http://www.itrust.in/forum/posts/preList/5021/15529.page http://www.itrust.in/forum/posts/preList/5021/15529.page GMT RBI raised its key interest rates by 50 basis points recently. It will raise interest rates. When prices are at their peak, experts advise investors in money market funds.

Income Fund is a mutual open schema that invests in debt instruments of different periods for income generating regular coupon payment instruments. The fund invests in certificates of deposit, commercial paper, bonds, debentures and debt instruments in building a diversified portfolio with a good risk-adjusted returns.

The fund manager may choose to invest in call money market, treasury bills and collateralised borrowing and lending obligation (CBLO), to maintain liquidity needs. Fund managers consider credit rating of fixed deposit income instruments before investing in them.

Return to the funds paid by affected due to changes in interest rates. Return to the revenue generated by the fund includes both interest and capital gains. Coupon highest - in which the interest is paid to the debtor - the higher income investors. In addition, the higher the coupon, the bond ratings lower, other things remaining the same.

Treasurer of funds in fixed income will do its best balance between credit and income portfolios. Capital gains are a function of changes in interest rates. If interest rates were to move, bearing instruments, particularly in longer maturities, see the falling prices. This in turn leads to a loss of capital and lower net asset value (NAV) of the fund.

On the other hand, if interest rates move in fixed income instruments see prices appreciate. This brings gains to the fund and the NAV appreciates. Income funds make a better choice for fixed income instruments when interest rates peaked.



We can invest in an income fund with as little as Rs 5000 to start. You can also choose a systematic investment plan. The ideal time to invest in an income fund is one to two to three years. Although income funds do not charge an entry load, there is an output load of space. Investors seeking current income should consider the option of participation. Growth option works for investors looking to save for their future.



]]> http://www.itrust.in/forum/posts/preList/5018/15489.page http://www.itrust.in/forum/posts/preList/5018/15489.page GMT
Weakness in the stock market and the great return offered by bonds to investors rushed to the safety of fixed-income investment options. When the fixed deposit and FMPs, non-convertible debentures (NCD) have captured the imagination of investors. At this time, the problem of chronic diseases' India Infoline Investment Services is open for investment, the company offers a 11.9% 5-year obligations. Three other issues need to be prepared. However, before investing in these securities, here are some things you should check.

[b]How secure is your capital?[/b]
You invest in debt because they want security, right? However, issuers may default on repayment of principal. This is where the credit rating of bonds is discussed. Credit rating is an independent assessment of the issuer's ability to meet its financial commitments. This is important because it also determines the price will be a command link in the secondary market. A nominal bond yields a higher price than a bond with a lower rank.

The rating is not a guarantee of perpetuity, as it may change with the fundamentals of the issuing company. Any deterioration in the credit rating will lower bond prices in the secondary market. So keep your eyes open for any change in the rating of bonds you own. Any rating change is usually announced by the agency and the media.

[b]Is the transmitter on a solid foundation?[/b]
Unlike the case of bank deposits are insured up `1 lakh, investment in convertible debentures, unsecured by any collateral. But as the lender of the company, an investor in MNT first right on the company's assets if it is threatened with bankruptcy. But this information is only useful if the company has sufficient assets. So before you invest, take a look at the finances of the company. Check if it is properly funded, and whether it has a healthy book value. "Stay away from companies that have a strong balance sheet leverage," says Ritesh Jain, Chief Investment Officer, Canara Robeco Mutual Fund. A bit of grass here can save you a lot of heartburn later.

[b]How liquid is the investment?[/b]
The investor is not required to hold to maturity of the subordinated securities to be traded on the secondary market debt market. It is a theory. The fact is that these tools are not very liquid and there are few buyers. In order to test the liquidity of the same type issued by a company before being taken to a sales pitch. Can 'be that some diseases are not traded in days, not the state of liquidity waiting for a product sold to the national rate.

[b]It is the sale and purchase option?[/b]
Some diseases are called to put the drivers and options. Put Option means that the investor has the right to sell back to society NCD after a certain time when the purchase gives the company an opportunity to pay in advance. While the put option the investor prefers the rising interest rate scenario, the purchase will cushion the company if prices fall, and wants to retire high-yield disease prematurely. To find sale and purchase of options to meet your needs before investing in NCD. For example, a five-year disease Shriram Transport Finance has put and call option after 48 months, while in India Infoline Investment Services, NCD is not present, or an option to purchase.

[b]What is the after-tax return?[/b]
Finally, consider the tax consequences of investment. Yields being advertised by the issuers of course not take into account the tax liability of the investor. Revenue from the DTM must be added to total income for the year and taxed at the normal rate. In the tax bracket of 10% (income up to 5 lakh a year old), 11.5% lower yield of 10.35%. In tax bracket to 20% (income up 8 `lakh per year), it falls to 9.2%. And the tax bracket the greater of 30%, it is just over 8%, which is nothing more than that offered by the PPF.
]]> http://www.itrust.in/forum/posts/preList/5016/15460.page http://www.itrust.in/forum/posts/preList/5016/15460.page GMT ___________________________________
[URL=http://seo-marketing.tk]link building service[/url]
]]> http://www.itrust.in/forum/posts/preList/5006/15440.page http://www.itrust.in/forum/posts/preList/5006/15440.page GMT
They are opening their accounts, salary, expand the branches, especially in small towns not exploited, and the waiver of taxes on the additional facilities.

[b]Protection Margins:[/b]
A higher proportion of low-cost current and savings account (CASA) deposits is to reduce interest costs and protect margins.

While the interest payable on savings is 4.5 %, the interest rate for one year and above the [b]fixed deposits[/b] is on average 8 % and a maximum of 10 % or more in the case of long-term deposits.

In addition, long-term savings deposits are integrated in nature. That's why I offer a more reliable source of funds for banks as term deposits, which are available in the amount of time in nature.

Bank of Baroda has opened 45 branches in the first quarter and plans to add 500 more this year. Of this number, 269 are in Tier I and Tier II cities and 253 towns in the Tier III level VI.

The bank added 18 lakh new customers in the first quarter and will focus on adding more, said MD Mallya, chairman and CEO.

Participation of the bank's deposits fell to 33.92 % on June 30, 2011, from 35.23 % last year.

At 24 %, deposits of the Bank Company CASA ratio of total deposits of one of the lowest in the industry. "We're trying to replace the expensive with the CASA deposits to protect our NIMS," said Ramnath Pradeep, CMD.

"Mahila Power Corp.," a savings account-cum-loan for working women and other similar arrangements should bring more low-cost deposits. This year, the bank is a part of CASA by 30 %.

Indian Overseas Bank CASA rate fell to 27.56 % for the quarter ended June from 33.12 % in the previous year. "We want to open 400 branches this year, which will contribute to savings accounts," said Mr. Narendra, CMD.

"Our bank is in a frenzy to open an account. We are targeting to open 75 lakh accounts to increase the ratio of 30 % CASA," said Nupur Mitra, Managing Director, NDA.

Bank of India also intends to focus on customer acquisition to improve its relationship with CASA, which is the end of June was 30 %. In the first quarter, the Bank has purchased more than 12 lakh customers, said Alok Misra, CMD, Boi.

And 'quite natural that the shares would fall when HOUSE interest rates rise and interest rate differentials (the VIS compared to term deposits) is very wide. This would result in further pressure on the cost of deposits in banks, said Ms. Vibha Batra, Co-Head, financial rating, ICRA Ltd.

So far, after the recent rise in interest rates the Reserve Bank of India, most banks raised lending rates than deposit mobilization was far superior to loan growth.

But when the abduction took credit in the second half, the banks may have to raise deposit rates to mobilize more deposits. Such an increase in deposit rates with a ratio of decrease in the CASA could put pressure on margins and profitability]]> http://www.itrust.in/forum/posts/preList/4998/15379.page http://www.itrust.in/forum/posts/preList/4998/15379.page GMT
There is some good news for bank customers. It may soon be time to say goodbye to bad memories of the penalties for failure to maintain a minimum balance, being charged for shifting property loan, or struggling to recover the money after the failure of ATM transactions.

A high level committee on services to bank clients suggesting radical changes in banking practices. The report of the commission headed by former Securities and Exchange Board of India (SEBI) chairman M Damodaran has been submitted to the Reserve Bank of India (RBI). Which was also posted on the central bank to obtain public comment prior to August 27.

The committee has suggested a common center toll-free number for all banks, the customer can call and then transferred to the bank.

On the side of the deposits, the group, who said the bank's customers are treated fairly, said all banks should offer simple savings accounts vanilla with special privileges, such as the ability to retain, ATM card auto, etc without prescribing a minimum balance.

The Committee said that the banks have offered products at prices that are bundled in such a way that served the best interests of the client. "And 'how to sell a flower or a bouquet of flowers or perhaps for the same price, regardless of the needs of the customer," the report said, while commenting that the majority of customers did not use any product.

If the account balance is a minimum requirement, criminal charges should be applied in relation to the deficit, the report said, adding banks must inform the customer immediately. In addition, all fixed deposit schemes offering different prices for different possessions should be addressed to produce an annual basis so that customers can make an informed decision.

It also suggests that banks will not automatically renew the deposit accounts without the written consent of the customer. The insurance coverage is proposed to increase the deposits of Rs 500 000 - 100 000 from the right side now.

The report fell heavily on banks, which charge customers to make transactions in non-home branches. To say such accusations are not justified, the committee said: "The routine services such as updates to the book, which are informative, should be made available to customers for free."

The report is also given a great relief for mortgage borrowers who are still paying higher prices, while new customers pay lower prices.

This practice was widespread in the last two years, when banks like State Bank of India (SBI), which offers lower rates to new customers while existing customers continued to pay more.

"In a scenario of a variable interest rate, when a whole class of borrowers with the same characteristics and level of risk, the entry point in time (old and new customers) do not discriminate in the rates interest offered. In such cases, spread over the base rate does not vary when individual risk rating for the loan is absent, as is usually the case of loans, "he said.

Banks were asked not to impose criminal exorbitant rates of foreclosure of mortgages and to ensure that customers are not deprived of the benefit of lower rates offered by other financial institutions. The Committee said measures to stop the practice of discrimination between new and old customers with identical risk profiles, based on offers of interest shall also be initiated.

It is proposed to modify the authorization of all mortgage loans at fixed rates and variable rates, at least once in possession of the loan at a reasonable cost. Banks were asked to return the property of clients with a book contract within 15 days from the threat of closing the loan to the customer will be replaced.

]]> http://www.itrust.in/forum/posts/preList/4995/15363.page http://www.itrust.in/forum/posts/preList/4995/15363.page GMT
After over a dozen domestic banks increased their lending rates in the range of 25-100 basis points following the recent RBI tightening, HSBC India today became the first leading foreign lender in India to join the chorus with a 50 bps hike.

The Hongkong and Shanghai Banking Corporation India, which announced a 33 % rise in pre-tax profit to USD 451 million yesterday, today revised upwards its base rate by 50 bps from to 9.75 from 9.25 %, effective yesterday.

It however, did not disclose its effective lending rates. When asked a spokesperson said they follow only the base rate.

The new rate will be applicable to all existing and new variable rate mortgage loans, the bank said in a release, adding the decision follows the recent 50 bps increase in the repo and reverse rates by the RBI.

The country's one of the oldest foreign bank also hiked its interest rates on resident/NRO fixed deposits by 50 bps for a term of 365 days. With this, HSBC India will now offer an interest of 9 % per annum to its customers for this tenure and 9.5 % to senior citizens.

Almost all the leading banks, barring the big three - SBI, ICICI and HDFC - have increased their lending rates after July 26, when the Reserve Bank for the 11th time since March 2010, increased the interest rates by 50 bps to tame inflation, which is ruling close to 10 %.

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