Bank Stocks

The closing price of Bank Stocks on NSE as on 03-Feb-2012 (Value in Rupees) Allahabad Bank 173 Andhra Bank 110 Axis Bank 1099 Bank of Baroda 763 Bank of India 349 Canara Bank 483 Central Bank 86 Corporation Bank 430 Federal Bank 403 HDFC Bank 506 ICICI Bank 915 IDBI Bank 100 Indian Bank 234 Indian Overseas Bank 88 IndusInd Bank 299 ING Vysya Bank 326 Kotak Mahindra Bank 517 Oriental Bank of Commerce 288 Punjab National Bank 962 State Bank of India 2103 Syndicate Bank 101 UCO Bank 72 Union Bank of India 229 Yes Bank 345

Base Rate

Base Rate is introduced in Indian banking system wef 01.07.2010. The base rate relates to interest charged by the banks on their advances. Before introduction of base rates Indian Banks used to give loans to corporates at very low rates. The amounts involved were also huge. Hence RBI felt the need to floor the rate charged by banks hence base rates were introduced. The base rates relates to the minimum rate that the bank can charge on any loan to anyone. They cannot lend below that rate. The banks were given freedom to fix their base rate based on their cost of funds, liquidity position etc.

Defaulters Photos to be published in newspaper

Are you aware that while signing loan documents banks take a undertaking from you which allows them to publish your photo in whichever mode they like if you default your loan payments. This also allows them to share data with CIBIL and RBI. They can also share your information with any one. Hence Beware. Now, banks are thinking to publish the photos of defaulters in the newspaper.