Banks
Figures collated by online portal Foreclosure India on auctions held by banks and Debts Recovery Tribunal (DRT) since January 2010 show that of 32 cities across India, Mumbai’s speculative realty market has the second highest number of foreclosed properties after Bangalore. DRT show a 23 per cent rise in cases of Mumbai properties, mostly residential, [...] Continue Reading »
Several banks had reduced their yearly business growth targets following slowing in credit offtake on account of increasing interest rates. The Reserve Bank of India has raised policy rates 11 times in the past 16 months, making funds dearer. Banks are looking to boost credit growth, which has suffered due to high interest rates. Most [...] Continue Reading »
According to recent finance ministry data that captures the performance of public sector banks, instances of home loan defaults contributing to gross non-performing assets (NPAs) was the highest in the category of loans up to Rs 2 lakh. The figure stood at six per cent in 2010-11, slightly lower than 6.4 per cent in 2009-10. [...] Continue Reading »
