SBI
Providing relief to lakhs of homebuyers, FM Nirmala Sitharaman announced an alternative investment fund of Rs 25 crore to help the real estate sector for 1,600 stalled housing projects covering 4.58 lakh units. Government’s aim to give incentive to the real estate market to improve. The decision was approved by the Union Cabinet at a [...] Continue Reading »
As a result of the delayed recovery of loans and inability to track defaulters, SBI has turned snoop by hiring detectives to track down errant borrowers. Their properties, once traced shall be advertised for sale. Due to the pressure of having to recover its debited money, the State Bank of India has contacted several small-time [...] Continue Reading »
State-owned Oriental Bank of Commerce (OBC) today cut home loan rate by 0.5 percent to 10.25 percent. The bank has reduced the interest rates on home loans of above Rs 75 lakh by 0.5 percent from 10.75 percent to 10.25 percent, OBC said in a statement. Now, all home loans irrespective of loan amount are [...] Continue Reading »
SBI capital bought the space worth more than Rs. 70 crore from Marathon Realty through a tender process that concluded last week. This office space is for shifting the operations of SBI Cap’s broking subsidiary SBI Cap Securities Ltd (SSL) from its present location and some activities of the investment bank’s operations. The investment bank [...] Continue Reading »
Banks must effect any change in floating rate loans only at the agreed-upon reset date, RBI suggested. This aims at ushering in transparent and appropriate pricing of credit, according to an RBI working group. It was suggested by the group that floating rate loan agreements can have interest rates reset monthly, quarterly, half-yearly, etc. This [...] Continue Reading »
The SBI extends the last date of special home loan scheme. As per this scheme the women borrowers will get 0.05 percent discount. As per SBI the special rates were available till 31 March but the last date will be extended till the next notice. The scheme is extended because it got a great response [...] Continue Reading »
The biggest advantage of purchasing a property on your wife’s name does not only impress the family, being seen as a trendsetter in a patriarchal society but the main strawberry part is that you might shear off 1-2 per cent of the property value. Women buyers get discount on stamp duty by some state governments [...] Continue Reading »
Both public and private, twenty five lenders, have secured an option to gain control over the sick infrastructure firm Lanco Infra, following one of the largest corporate debt restructuring (CDR) ,by conversion of 3,024 crore of loans into equity which involves 11,155 crore. In a communication, seeking the approval of shareholders for the issue of shares [...] Continue Reading »
State Bank of India (SBI) has planned to speed up the home loan approval process by making it online. Now, the national bank will approve the loan amount online by linking it with Credit Information Bureau of India (Cibil). For doing so, the bank is thinking of finalising the service providers who will enable the [...] 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 »
