Interest rates
SBI chief Arundhati Bhattacharya on Thursday said that the interest rate would be left unchanged by the RBI in the next review. She was speaking ahead of the RBI’s monetary policy review and also states that there is a chance of the RBI softening its stance as this financial year closes. According to her, all [...] Continue Reading »
The realty market is picking up after the change of the government in the center and that is evident in the financial balance sheet of HDFC Ltd. The Housing Development Finance Corporation (HDFC) on Monday reported a net profit of Rs 1,344.66 crore, up by 14.62 % year-on-year (Y-O-Y), for the quarter ending June 30, [...] Continue Reading »
A person familiar with the plan told that there is a possibility that banks will be ordered to scrap penalty on pre-payment of all retail and small corporate loans and do away with fines for failure to maintain minimum balance if the recent ‘nudge’ does not work by the Reserve Bank. Since the entire system [...] Continue Reading »
Axis Bank, India’s third largest private sector bank, on the occasion of its 20th Anniversary launched ‘Asha Home Loan’ earlier this week. This is a 30-year home loan product for first-time home buyers in the lower income segment looking for affordable EMIs. Asha Home loans are for customers with family incomes of 8000-10,000 per month [...] Continue Reading »
A senior bank official says that Axis Bank has launched a home loan scheme for the people whose per month income is less than Rs 10,000 per month. The bank is looking at disbursals of up to Rs 1,000 crore in a year’s time However these loans will have higher risk due to as the [...] Continue Reading »
Over recent years, National Highways Authority of India (NHAI) is not ready to accommodate an increase in project costs due to which road developers are in a fix. Since a number of projects have seen a 30 per cent rise in costs such as rise in bitumen, diesel and labour expenses, besides interest rates, developers [...] Continue Reading »
Reserve Bank of India (RBI) has announced the second repo rate cut of 0.25 percent (25 basis points) to 7.50 percent. Earlier, a similar cut was declared on January 29, 2013. This has adjusted the reverse repo rate to 6.50 percent and the Bank Rate to 8.50 percent. The Cash Reserve Ratio (CRR) has been [...] Continue Reading »
Noida- The Greater Noida West developers are continuously in trouble with unending woes. Apart from just the farmers demanding their compensation for their developed plots, the buyers as well are contributing to it by threatening to stage a protest on January 20. Thousands of agitated home buyers were present outside the Supertech office in Sector 58 to pour [...] Continue Reading »
The Union bank of India, a Mumbai based public sector lender, has decreased the interest rates on home loans above Rs 30 lakhs by 25 basis points. The bank is now offering home loans up to 75 lakhs at the base rate which is 10.5 percent. Loans above Rs 75 lakh and up to Rs [...] Continue Reading »
The Reserve Bank of India (RBI) has denied the request of banks to allow them to restructure real estate loans without providing for likely losses if the loans go bad. A loan is said to be restructured when the original terms of the agreement (interest rates, tenure) are diluted in order to support troubled borrowers [...] Continue Reading »
