RBI has ultimately permitted banks to increase the target date for meeting the bad loans provision coverage ratio of 70% after September 2010. The date has been increased till September 2011. But banking giants viz. SBI and ICICI Bank have obtained the extension only up to March 2011.
Bank loans including personal loans increased by 17% on year as on April 9, the apex bank’s weekly statistical supplement (WSS) stated. Deposits were hiked 16% from a year back. Outstanding loans went up by Rs. 8.26 billion ($186 million) to Rs. 32.41 trillion in the 2 weeks up to April 9.
Teaser loan schemes are personalized products introduced in the market in order to entice more clients. Although most of the banks have stopped offering teaser loans, SBI and HDFC Bank still offer these loans. With these schemes the customer can make a choice and reduce the interest rate during the initial years of the loan.
The 4th quarter of the fiscal just ended saw a big increase in credit flow which helped banks to fulfill the credit growth estimate laid down by the RBI. The big portion of credit flow in this period was from the retail loan section but saw a big decline in credit to the home loan… Read More »
The present scenario is indicates that restraint of inflation is the need of the hour, far more crucial than economic recovery. This is believed to be the RBI’s chief idea when announcing the monetary policy today.
The Reserve Bank of India is expected to further tighten its monetary policy during its April 20 policy review to control shooting inflation, according to financial Services secretary R Gopalan. Gopalan said, “I share the view of some experts that some further amount of tightening is required”. The central bank is examining its monetary policy… Read More »
The forthcoming monetary policy is expected to lead to an increase in interest rates by the banking industry. Home loan rates are very likely to increase post this credit policy review. Experts claim that if home loan rates increase by over 2% then the housing sector is expected to be badly affected. Anuj Puri, ones… Read More »
Home loan market is again rising high. Credit offtake in this sector has taken a giant jump in the final 2 quarters of the FY’10 as against to the 1st 2 for leading players- SBI and HDFC. HDFC is anticipating a 20% increase in the final quarter of the previous fiscal while SBI anticipates 30%… Read More »
German luxury car manufacturer Audi has introduced a limited version of the diesel prototype of its Q7 sports utility vehicle at a specifically reduced price of Rs 58.68 lakhs or Rs 5.86 million (ex-showroom Mumbai), which is Rs 7,45,000 below the current car. With low-cost car loan, it can easily become more affordable for a… Read More »
With base rate coming into effect from July it an end for teaser loan schemes. The banks had introduced these schemes last year for home loan as well as car loans in which the customers were given loans at rates as low as 8%. The teaser loans were given below the BPLR. The country’s biggest… Read More »