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 »
A recent press report said that talks are on everywhere with regulators wanting to do away with prepayment penalty being levied on home loan borrowers for floating rate loans. The Reports said that the lenders have however showed their dissatisfaction on the regulators suggestion to do away with prepayment penalty being levied on home loan… Read More »
A recent press report said that the government is working with the World Bank and the International Finance Corporation (IFC) to develop an appraisal mechanism for borrowers in the informal sector for disbursements under the mortgage risk guarantee fund for housing loans. A World Bank spokesperson said that they have just started to work on… Read More »
A recent press report said that the Government has announced an extension of 2 per cent interest subsidy on rupee export credit for a year effective from April 1, 2011. The Reserve Bank of India, in its recent announcement said that the banks should reduce the interest rate to be charged on the exporters to… Read More »
As per the report from the Credit rating agency Crisil, GDP growth is estimated to be lowered to 7.6 per cent for the Fiscal Year 2012 from the previous forecast of 7.7 to 8.0 per cent. Crisil has downgraded the GDP growth for the second time. In 2010, it has been estimated that the GDP… Read More »
A fixed rate home loan scheme offers home loans at a fixed rate which will remain fixed for the complete tenure of the loan. The fixed rate home loan scheme is offered by Axis Bank under the name “Nischint”. According to the scheme there will not be any changes in the EMI and the bank… Read More »
A recent press report said that the state of Kerala is likely to set benchmark for all by trying to get the top place and being the first to achieve 100% financial inclusion in the country. Ms. Archana Bhargava, executive director of Canara Bank told the press that an announcement confirming that the state likely… Read More »