India’s second biggest public sector bank, Punjab National Bank has stated that it would not be hiking interest rates in the immediate period saying that there is adequate liquidity in the system. PNBChairman K R Kamath said, “There is no problem of liquidity … (therefore) no possibility of interest rates going up now”. This means… Read More »
Home loan rates may increase making borrowing costly for builders. It is expected that RBI may ask banks to provide more capital for loans to real estate projects. If this occurs then banks would require more capital which would force them to increase rates of home loans. It is believed by top banking officials that… Read More »
Deutsche Bank AG has said that it would be commencing its retail operations in Ludhiana. The bank had just started its branch in Moradabad on 10th April 2010. With this the total number of branches of the Deutsche Bank in India has gone up to 15. The Ludhiana branch would be offering the bank’s… Read More »
The Reserve Bank of Indiahas stuck to its stand that the commercial banks should not ask collaterals on education loans for sum below Rs. 4 lakh. The RBI had first issued this order in the year 2001. It has been pressurized to restate its guideline after reports from numerous sources that banks are asking collaterals… Read More »
Bajaj Auto, which is intending to introduce four-wheelers in passenger and commercial vehicle section in 2012, will use the Renault platform for their manufacture. The platform is being built and it will distribute common features, meeting the needs of passenger vehicles and goods carriers, according to Bajaj Auto MD Rajiv Bajaj. Mr Bajaj said, “Our… Read More »
The banking sector is anticipated to come back to normalcy in this result season according to the analyst estimates. The leading 7 Indian banks are anticipated to increase their net profit by an average estimated 13% year-on-year (y-o-y) in March 2010 quarter. Except Bank of India (BoI), the rest of 6 banks may post a… Read More »
HDFC and ICICI Bank are facing hard time with the new FDI norms that declares them foreign banks. Now the RBI is expected to bail out these banks. It is possible that the central bank would shortly be sending out a directive which would categorize these banks as “foreign-owned Indian banks”. This move by RBI… Read More »
Home buyers and property developers don’t have to worry about having to pay a service tax if they are unable to get completion certificate from the local authority. The government may permit an independent authority to certify that the property is finished. A finance ministry official said, “We are examining the issue and will see… Read More »
Home development firm Skyline Constructions said it will build 6 premium residential apartments costing between Rs 14.5 and Rs 22 crore (Rs 145-220 million) in Bengaluru. Avinash Prabhu MD Skyline Constructions said “The cost of the apartments will range between Rs 14.5 crore and Rs 22 crore. The apartments will be available only for a… Read More »
Housing finance major HDFC reduced its home loan rate to 8.25% for the 1st year under its new dual rate scheme, usually called as teaser loans, valid for fresh loans. Under the scheme, HDFC would give a fixed rate of 8.25% up to March 2011, then 9% for the 2nd year and the present floating… Read More »