A recent press report said that National Housing Bank (NHB) has planned to be the housing sector’s window for external commercial borrowings (ECBs). It desires to pass on benefits of ECBs, including low cost, to the housing-finance sector without transferring any risks. Mr. R.V. Verma, Chairman and Managing Director, NHB, told the press that NHB… Read More »
MAPE Advisory Group has appointed Mr. Sunil Mehra as the Managing Director of investment banking. Prior to this Mr. Mehra was the Managing Director in the Corporate Finance group of Standard Chartered and with DSP Merrill Lynch as a director during 2000-2006. He is also the former Vice-President of ABN AMRO for five years and… Read More »
According to reports from Axis Bank, the banks have announced that the following changes will come into effect from 1st November 2011. With respect to the usage of other bank ATM’s, it has said that the transactions on prepaid cards i.e. the cash withdrawals would be Rs. 20.00/- (including taxes) per Financial transaction and Rs.… Read More »
A recent press report said that IDBI Mutual Fund, a wholly-owned subsidiary of IDBI Bank has launched an open-ended gold exchange traded fund (ETF) for retail investors. Reports said that the new fund offer (NFO) will be opened for subscription from 19 October and will end on 2 November 2011. The allotment of units is expected… Read More »
A recent press report said that HDFC bank had planned to bring back Diner’s Club, the oldest card in India. The premier charge card was sold by Citi to in the year 2008, will soon. The card is expected to be relaunched by an affiliation with HDFC Bank. HDFC bank will be a franchise for… Read More »
A recent press report said that car manufacturers are bundling various offers and gifts to speed up the sluggish auto market. According to reports, Maruti Suzuki has offered discounts ranging from Rs. 20,000-Rs25,000 on Alto and Wagon R while Volkswagon India has offered a discount of Rs. 40,000 in the form of free insurance premium,… Read More »
A recent press report said that Dewan Housing Finance Corporation Limited has planned to raise about Rs 1,000 crore before end-2011 or in the fourth quarter of this fiscal. Mr. Anil Sachidanand, CEO, DHFC, told the press that the company was planning to raise capital of Rs. 750 crore to Rs 1,000 crore before this… Read More »
A recent press report said that Corporation Bank has said that despite the continuous rise in interest rates, there has not been any corresponding rise in defaults. A top official of the bank told the press that there has not been any rise in defaults in the recent time, in spite of repeated policy rate… Read More »
According to a recent research report from Crisil the rising interest rates are likely to push up the equated monthly installments (EMIs) of home loan borrowers by Rs 6,000 crore annually. Reports said that the higher EMIs and a slowdown in economic growth will cause in the rise of non-performing assets (NPAs) of financiers. It… Read More »
A recent press report said that banks are planning to improve their car loan book this festive season. SBI and HDFC have reduced their margin requirements for Tata’s Nano to Rs. 15000. If the borrower opts to take loan from Punjab National Bank then no margin money has to be paid for the Nano. Reports… Read More »