In a recent press report the Union Minister for Rural Development has said that Micro-finance institutions would not solve the problems of poverty whereas it can serve as an instrument in bringing the people into the network of financial services. He underscored that the findings of a study reveals that the MFIs do not provide… Read More »
A recent press report said that the bewildered Maharashtra State co-operative bank which has been suffering from huge bad debts amounting to Rs.400 crore has planned to sell its bad loans to asset reconstruction companies. It has planned to sell the loans, especially given sugar factories, on auction to asset reconstruction companies. The country’s largest… Read More »
A recent press report said that State Bank of India has planned is organize a home and car loan festival in Coimbatore from September 30, 2011. The fest is to be organised for duration of three days and is expected to bring borrowers as well as sellers on a common platform. It is being organised… Read More »
A recent press report said that the Jammu and Kashmir Bank has planned to raise its prime lending rate (PLR). The affect of the hike in the repo rate on the various policies of banks is taking shape. The bank has taken the step after the recent hike in policy rates announced by the Reserve… Read More »
A recent press report states that the interbank call rate plummeted down in spite of being the second day of the new Reporting Fortnight from the start. This is because the banks have fulfilled their needs for reserve by means of borrowing from the Reserve Bank of India’s repo auction. The dealers said that the… Read More »
A recent report from the press says that the Indian banks have rarely seen failures unlike the US, in which has seen a swelling of around 4000 banks during the Great Depression in 1933 and around 398 banks during the Great Recession of 2008. But this should not hide the fact that nearly Rs.32 lakh… Read More »
A recent press report said that public sector lender Vijaya Bank had organized a home loan in order to benefit its customer base in getting home loans. Reports said that the carnival termed as ‘Home Utsav 2011’ also came as an event meant to mark the 80th anniversary of the south based lender. The event… Read More »
RBI raised the policy rates by 25/50 basis points. This is the most familiar statement in media for last couple of months. The role of RBI seems to have increased recently since India started experiencing major inflationary pressure on her economy. What exactly RBI intends to achieve by raising policy rates, also known as… Read More »
A research report by Crisil states that the raising interest rates would result in increased equated monthly installments (EMI) of home loan borrowers of about Rs.6000 crore annually. This increase in EMIs coupled with slowdown in economic growth would lead to increased nonperforming assets (NPAs) of the lenders. The uninterrupted hike in policy rates since… Read More »
A recent press report has said that The Housing Development Finance Corp (HDFC) has upsized its issue to Rs 1,000 crore, which is twice its initial size, as it received strong investor demand. Sources from HDFC have said that the company is looking at a very good demand from corporates, insurance companies and foreign institutional… Read More »