Home Loan
New Delhi- Reserve Bank of India (RBI) has announced reduction in short-term lending rate by 0.25 percent to 7.75 per cent. This move is expected to lead to reduction in interest rates for buyers and builders. RBI has also cut Cash Reserve Ratio (CRR) to 4 percent, releasing Rs 18,000 crore primary liquidity into the [...] Continue Reading »
Indian banks are allowed to issue 30-year fixed rate home loans under the priority sector category in order to make loans more affordable, announced a Reserve Bank of India panel. A rating agency issued a warning that banks were lending long-term loans with one-year deposits due to which asset-liability mismatches are significantly high for some [...] Continue Reading »
To support housing for the poor, the Ministry of Housing and Urban Poverty Alleviation has been planning to raise the cap on the interest subsidy scheme from the present Rs 1 lakh to Rs 5 lakh. The scheme of Interest Subsidy for Housing the Urban Poor was started in the late 2008 in order to [...] Continue Reading »
