The 1st quarter of FY 2010-has been pretty good for the 3rd biggest private sector personal loan lender, Axis Bank. Though the bank has shown profit increase in line its profits reported in the earlier 3 quarters, the highlight of the bank this time is the 39% increase in its loan book on a y-o-y… Read More »
The Q1 results for the fiscal year 2010-11 have been profitable for LIC housing finance. The company has reported 51% increase in its loan approvals valued at Rs 5,348 crore and a 41% rise in loan disbursments worth Rs 3,392 crore. RR Nair, director and CEO of LIC Housing Finance said, “About 60% of the… Read More »
Tata Motors has said it will increase the prices of its small car Nano by up to 4% after completion of the delivery to initial 100,000 customers. The company said it has started informing customers, who had kept their booking but did not figure among the initial 100,000, that their cars will be delivered although… Read More »
Construction giant Shapoorji Pallonji & Co will start a real estate fund over the next one year. The fund will concentrate on investments in the local market, as per to Shapoor Mistry, chairman of Eureka Forbes, the Shapoorji Pallonji group company.
Religare Enterprises has purchased a portion of Citigroup India’s home loan portfolio for a sum of Rs 500 crore. The portion of portfolio sold by Citi comprised of 5% of the overall home loan book of the company.
Tata Motors is ready to join Maruti Suzuki in the million unit club this year, making it another highlight for one of India’s oldest car makers and ripening of the local automobile sector, whose volumes have traditionally lagged those of its oversees counterparts.
The French car major Peugeot Citroen SA is set to enter Andhra Pradesh. Now the state is looking forward to another proposal from Hyundai. The Korean car manufacturer had approached the state with plans to open a unit to produce spare parts.
Godrej Properties, the Adi Godrej-led real estate venture, is ready to finish a redevelopment transaction in south Mumbai in this quarter, sources say. Moreover its land transaction with Jet Airways at Bandra Kurla Complex, which was supposed to end on July 15, has now been increased up to the end of the month, sources say.
Recently, RBI Governor, D Subbarao has indicated that RBI is in favor of deregulating the savings bank interest rate, which is currently fixed at 3.5% p.a. for deposits up to Rs. 2 lakh. Deposits over Rs. 2 lakh are currently deregulated allowing banks to fix their own rate. Interest on savings bank account is the… Read More »
Although easing liquidity is not in sync with the rate hike, RBI has decided to go easy on liquidity because of the temporary liquidity squeeze on account of advance tax outflow and 3G spectrum payments. RBI has decided to extend its liquidity management measure of 0.5% of the bank’s net demand and time liabilities under… Read More »