Reserve Bank of India
Reserve Bank of India is expected to revise the prevailing interest rates as its the policy time review for this prevailing year. This has set a record as this marks the interest rate hike for 13th time in around 19 months. This Diwali is sure to dampen the property buyers dream if they had plans [...] Continue Reading »
The Reserve Bank of India (RBI) has advised the housing banks not to impose a prepayment penalty if floating rates of interest are assured and also there will be absolutely no penalization for such borrowers. However the concern is different in terms of fixed interest loans wherein it involves on going tie up the housing [...] Continue Reading »
India’s largest housing finance company HDFC has outcome with 20% rise in profits for the year 2011 and also the profits gained were higher which even crossed the market expectations and reason behind this act was the stake revenue coming at the earliest from HDFC. Mayur Shetty, Keki Mistry the vice chairman and CEO of [...] Continue Reading »
Indian financial market is facing a slowdown in economic growth which is increasing bad loans resulting in home loan borrowers to face annual burden of Rs 6,000 crores. There is a drastic increase in Equated Monthly Installments (EMI) and this due to the rising interest rates. Meanwhile the Reserve Bank of India (RBI) has hiked key [...] Continue Reading »
The National Housing Bank (NHB) is upholdong a new mantra with guidelines on charges with affordable home loan. NHB in the previous financial year had announced zero percent pre-payment charges that are to be levied. Mr R.V. Verma the Chairman and Managing Director of NHB reported saying that they are looking into commercial refinance situations [...] Continue Reading »
The rising interest rates in Mumbai have an impact on home loans. Home loan borrowings have gone up by 21% since March 2010. The property prices have remained relatively subdued in several sectors. Reserve Bank of India have been tracing the latest data that have aggregated home loans by the commercial banks rose 21% till [...] Continue Reading »
The credit demand in the banks are increasing rapidly this festival season and the national banks in Mumbai recorded that the hiring of loans growing higher than the deposits this prevailing month. This loan rates have been increasing steeply by the Reserve Bank of India (RBI). According to the statistics recorded by the RBI the [...] Continue Reading »
Reserve Bank of India (RBI) has hiked the interest rates nearly 12 times for over a period of 18 months wherein all the loan borrowers are being burdened. Satish Kumar, national credit manager, mortgages, at ICICI Bank reported saying, a well planned budget for the payment of regular pre-payment charges is the best way to [...] Continue Reading »
National Housing Bank (NHB) is planning to set up a finance company over the end of this financial year. The housing finance head Reserve Bank of India, will compensate on banks and housing finance companies in respect with the home loan borrowers. The application for the mortgage finance company will be handled by the Reserve Bank of India by [...] Continue Reading »
Home Loan rates have been increasing frequently. Unfair penalty has been levied on the Home Loan Borrowers. Bankers’ contention that the charge is being levied only if the borrower closes his loan by transferring his account to another lender is perverse. Bankers know that most of their borrowers do business in a competitive market. It [...] Continue Reading »
