Nine-fold increase in digital payments over last five years: RBI Governor


There has been a multi-fold increase in digital payments over the last five years, according to Reserve Bank of India Governor Shaktikanta Das.

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Affordable home loans under PMAY, a hit with middle-income customers


Subsidised home loans under Prime Minister Awas Yojana (PMAY) have become popular among the middle-class, and are driving loan growth for banks. “PMAY loans have been one of the drivers for the overall growth of home loans.

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SBI Yono App to allow cardless withdrawals


Customers of State Bank of India will no longer require debit cards to withdraw cash from ATM. The state-owned lender announced Friday that the customers can generate a one-time pin (OTP) on their mobile application and use the pin to transact from the bank’s ATM.

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Indian Overseas Bank, Syndicate Bank, Bank of Baroda cuts MCLR by 10 basis points


State-owned Indian Overseas Bank said it has reduced the MCLR across all tenors, except overnight and one month. The new MCLR rates came to effect from March 10, 2019.

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SBI all set to link saving deposits, pricing of loans to repo rate from May 1


Lending major SBI said it will link key pricing decision for savings bank deposits and short term loans to the repo rate of the RBI. According to the lending major, the step is in order to address the concern of rigidities in the balance sheet structure and for quick transmission of changes in RBI's policy rates.

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59-minute MSME loan portal sanctions Rs 35k Cr, becomes India’s largest fintech lending platform


Web portal PSBloansin59minutes.com launched by Prime Minister Narendra Modi three months ago has emerged as the largest online lending platform, according to a report by global financial firm Credit Suisse.

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Know SBI Personal, Home, Car Loan: Interest Rates, Amount And Other Details


State Bank of India (SBI), the country's largest lender, offers a variety of loans to meet the financial needs of its customer under its personal finance portfolio. The different loan products of SBI are a home loan, car loan, personal loan, and education loan.

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GST on houses under construction slashed to 5%; affordable housing to attract 1%


In a big relief to home buyers, the GST Council had recently slashed tax rates on under-construction housing properties to 5 percent without the input tax credit, from the existing 12 percent, finance minister Arun Jaitley said.

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Easier loans for electric vehicles likely soon


Getting loans from banks for buying electric vehicles is likely to get easier as the government has decided to take measures to facilitate lending by banks for all varieties of these vehicles including e-rickshaws and e-autos.

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RBI to regulate payment gateway providers: Digital payments likely to get safer


In another move to make digital payments safer, Reserve Bank of India (RBI) proposes to regulate payment gateway service providers and payment aggregators. This would mean that payment gateways such as Paytm, Mobikwik, Bharat Bill Pay and so on would have to adhere to RBI guidelines just as many other financial entities have to do.

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