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In better performance to its global peers the Indian equity markets ended on flat note, in morning trade markets opened on low note on the back of week Asian markets but recovered to and traded in green.

Banks stocks faced some selling pursue and closed lower, NSE CNX Bank Nifty closed at 4077.30 down by 2.09%

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Indian Market News, news Banks, Nifty, NSE, Sensex

People are finding it difficult to get a home loan because banks now need the borrowers to contribute more the value of the property upfront, instead of 15% earlier the upfront contribution is now up to 30% which is double, which is worrying most of the people who once dreamt of building their own dream home.

Banks like SBI and PNB are not lending more than 75% - 80% of the value of the house depending on the requirement, other Public sector banks also are following the same path, private sector banks like ICICI also asks for 30% buyer’s contribution while issuing a home loan. Read more…

Indian Market News, news Bank loans, Banks, EMI, home, Home Loans, Loans, PNB, SBI

HDFC Bank Ltd, 01-OCT-2008 to 31-DEC-2008 (Third Quarter) Results:
HDFC Bank Ltd has announced the non-consolidated Results for the quarter ended on 31-DEC-2008 as follows: Total Income of Rs.540789.00 lakhs for the quarter ending on 31-DEC-2008 with Net Profit of 62174.00 lakhs with an EPS of 14.60.  Other Income was at 93939.00 lakhs.

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In the Market Meltdown since Jan 8, 2008 when the index made its all time high, some banks have lost more than 60% of their Jan 8, 2008 price.

1. KOTAK MAHINDRA         77.64%                 fall from 1328 to 297
2. ICICI BANK                      76.98%                 fall from 1339.95 to 308.5
3. IDBI                                 64.07%                 fall from 168.25 to 60.45
4. CANARA BANK                59.87%                 fall from 391.45 to 157.1
5. OBC                                55.89%                  fall from 297.55 to 131.25
6. SBI                                  52.74%                  fall from 2464.55 to 1164.75
7. AXISBANK                       49.44%                  fall from 1065.75 to 538.85
8. BANK OF BARODA         45.86%                  fall from 452.35 to 244.90
9. UNION BANK                 45.02%                  fall from 224.55 to 123.45
10. HDFC BANK                   43.3%                    fall from 1715.75 to 972.90
11. BANK OF INDIA             39.42%                  fall from 375.35 to 227.40
12. PNB                               38.46%                  fall from 682.35 to 419.95

Indian Market News bank nifty losers, Banks, big losers, highest Fall

Punjab National Bank(PNB) has decided to raise its benchmark prime lending rate(PLR) by 100 basis points to 14 per cent with effect from 1st of next month, being country’s second largest public sector bank by assets PNB decided to hike its deposit rate by 75-100 basis oints across various maturities to make them more competitive in the market.

These decisions have been taken today looking at the extraordinar situation prevailing and to provide better returns to the depositors of PNB with the inflation rates at 12 per cent PNB said that they will not be able to induce the people to save unless they increase teh deposit rates.

Indian Market News, Results, news Banks, deposits, inflation, Interest rates, PNB, Punjab National Bank, security deposits

Indian Bank 01-OCT-2007 to 31-DEC-2007 (Third Quarter)  Non-Consolidated Results:

Indian Bank has declared A Total Income of 1676.00 crores, Net Profit for the period being 307.50 crores, EPS was at 6.92.

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