:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

BANKS ARE FREE TO DECIDE LENDING RATES; NO RBI DIKTAT: IBA

Mr. K.R. Ramakrishnan, Chief Executive, IBA told that banks were free to decide their interest rates based on supply and demand and RBI had not sent any communication to IBA to frame guidelines for banks on "teaser" rates.


He was responding to a media report, which quoted that RBI has asked IBA to formulate guidelines to restrict banks offering very low interest rates for a short period.


Teaser rates are cheaper rates offered by banks to attract customers, primarily in home and auto loans. Several banks had come with special home loan offers by lowering their interest rates to as low as 8 per cent for a specified period.


Source: http://economictimes.indiatimes.com/news/economy/finance/Banks-are-free-to-decide-lendIng-rates-no-RBI-diktat-IBA/articleshow/5474238.cms

Posted by C.B.O.A., A.P.

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