Since last 10 years, Gold has been hitting new levels. The pace accelerated after S&P downgraded US credit rating a few days ago. The credit rating of US has been downgraded from AAA to AA+. This is still good but then we are talking about United States and the almighty dollar. The consequences of this… Read More »
A recent press report said that National Housing Bank (NHB) has announced that it will come up with directives regarding prepayment of home loans by borrowers. Banks do not charge prepayment penalty if the borrower prepays the loan from his own funds. The borrower will have to pay prepayment charges if he prepays the loan… Read More »
A recent press report said that the National Housing Bank which regulates HFCs has planned to waive pre-payment charges on floating rate housing loans. MR. R Verma, chairman and managing director, NHB told the press that it will soon bring guidelines to remove prepayment penalties on all accounts. He said that they were currently examining… Read More »
A recent press report said that the unlike ICICI and HDFC, other banks and housing finance firms might not come out with schemes offering dual interest rate housing loans on the back of higher provisioning norms stipulated by the Reserve Bank of India (RBI) for such advances. Reports said that Edelweiss Housing Finance (EHFL) which… Read More »
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 »