Real estate companies ask for service tax rollback on housing
Real estate developers are holding an emergency meeting to examine the effect of the service tax on housing and will speak to the government for rollback of the Budget scheme.
Category Archives: News
New BMW 330i available at Rs. 33.4 lakhs
BMW has introduced 2 new models in its 3 series sedan class. BMW India’s president Peter Kronschnabl introduced BMW 320d corporate version (diesel) and the BMW 330i (petrol) as the 2 new BMW 3 Series sedans.
RBI set to increase repo and reverse repo rate??
The Reserve Bank of India is set to hike its short-term interest rates by April as a step towards coming out from the easy money era. This was stated by Deutsche bank. Pratik Gupta, head of equities, Deutsche Bank, said “Our assessment is that the RBI will hike the repo, reverse repo rates by April”.
Why are the property prices exorbitant in Mumbai?
A cartelisation of Mumbai’s real estate, in the case of transferable development rights has hiked the prices and also led to worries amongst policy makers. A recent development shows that mere 6 builders are in charge of 70% of the 2.5-3 million sq ft available TDR. The price of TDR has also gone up to… Read More »
Doing away with pre-payment penalty to burden customers: RBI
Eliminating pre-payment penalty on loans might encourage banks to increase interest rates on loans to pass on their load on to the customers, according to RBI Deputy Governor Usha Thorat.
Sales of Bajaj motorcycles zoom to 78% in February
India’s second biggest two-wheeler manufacturer Bajaj Auto posted 78.03% increase in motorcycle sales at 2,34,623 units in February. Last year, the company had sold 1,31,785 units in the same month, a statement by Bajaj Auto Ltd (BAL) said.
HSBC India reports 44% reduction in profits
HSBC India has reported a reduction of 44% in net profits for the year ending 31st December 2009. This reduction is due to loss of Rs. 1000 crore suffered by the retail banking arm of the bank. The commercial banking arm of the bank has also reported a decline. However the bank’s gains from its… Read More »
SBI to benefit from govt’s decision on farm loan repayment
State Bank of India (SBI) will be the largest recipient of the government’s decision to offer farmers more time to repay their loan. In his budget speech, finance minister said that the government will increase the repayment duration under one-time settlement (OTS) scheme by 6 months till June 2010.
Tata Motors’ profit soars 58%
The country’s biggest carmaker, Tata Motors posted an increase of 58% in its sales for the month of February. It sold 69,427 units, as compared to 43,811 units sold in February previous year.
RBI data on bank spread to frustrate Pranab’s hopes
Finance Minister Pranab Mukherjee intends to increase the area-wise spread of banks and mentioned in his budget speech that RBI was thinking about permitting more private players in banking.