Loan
A day after SBI reduced home and auto loan rates and the National Housing Bank (NHB) announced reduction in the refinance rate under a special scheme for the economically weaker section, there seems to be a possibility of further cut looming in the horizon. Moreover, SBI said that it would cut interest rates on fixed [...] Continue Reading »
Retail loans may turn cheaper as country’s central bank, Reserve Bank of India (RBI) has announced a reduction of one percentage point in Statutory liquidity ratio (SLR) for banks. Retail customers may get the benefit of lower lending rates as banks may reduce rates on retail loans. The lower SLR, which is the proportion of deposits banks [...] Continue Reading »
The San Finance Corporation (SFC), which has Rajya Sabha member Ajay Sancheti (BJP) as a partner, has financed nearly one-tenth of the 103 flats of the scam-hit Adarsh cooperative housing society. Abhay Sancheti, another partner of the firm told the two-member judicial panel looking into Adarsh’s irregularities, that it ‘granted loans to 10 people’ who [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) has been permitted to borrow Rs 1,000 crore loan from banks and financial institutions as it is facing a financial crunch by Karnataka government. The Corporation recently presented a budget of Rs 9500 crore and has been pleading the state government for financial assistance. The cabinet has approved the [...] Continue Reading »
Few years back, the home loan which was provided under teaser loan scheme by a housing finance company (HFC), is not the same anymore when repaying it back. The prepayment charges amounted to Rs 2 lakh for a person who had availed a Rs 1 crore loan under that special rate scheme. As per a [...] Continue Reading »
A Memorandum of Understanding (MoU) has been signed between Bihar government and the State Bank of India to provide home loan to state government employees at cheaper rates. As per the MoU, the government being the guarantor would deduct the EMI from the loan beneficiary’s salary if he/she is in default on the loan. This [...] Continue Reading »
Banks will now be relieved if the amendments to the Sarfaesi laws is done very soon! Under the proposed amendments in Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Sarfaesi), banks wil now be allowed to seize the defaulter borrower’s property in any case. They can even buy the asset [...] Continue Reading »
Godavari Drinking Water Project will be constructed soon in Hyderabad. The state government will be taking care of constructing the project with the cost estimation of Rs 3,375 crore. Also, HUDCO has joined hands for this project by agreeing to provide Rs 1,000 crore loan. The forest department will be handing over about 300 acres of [...] Continue Reading »
Almost every quarter Indian realty companies have no other go but to pledge more shares in a bid to raise their liquidity. Hike in property prices combined with high interest rates seems to be giving tough fight in share investments. According to the research conducted by ICICI direct, the percentage of real estate promoters in [...] Continue Reading »
Bruhat Bengaluru Mahanagara Palike (BBMP) has plans to build steel bridges to ease commuters from prolonged traffic. The steel bridge has been planned to be laid at Lalbagh Main Gate and Shivananda Circle junction, Bangalore. Although, BBMP officials are contended with the launch of this plan, but at the same time is also worried about [...] Continue Reading »
