Mr. M V Nair, Chairman and Managing Director, Union Bank of India, said that the RBI is likely to increase key policy rates in the month of May due to continuing high inflation in the country. This increase in key policy rates will add pressure to the banks’ lending rates. He also said that the… Read More »
The word mortgage has to be explained clearly before we start. Any property that is pledged to the financial institution/ bank until the repayment of a loan is done is called a mortgage. Generally houses, land etc are taken as mortgage. The word mortgage loan would mean two different things in Indian scenario and US… Read More »
Housing finance as a financial service is relatively new venture in India with a very quick growth in the sector. In 1970, the Housing and Urban Development Corporation (HUDCO) was set up to finance housing and urban infrastructure activities followed by the Housing Development Finance Corporation (HDFC) in 1977, which was the first housing finance… Read More »
Future Capital has introduced Loan against Property with easy repayment options. This loan supports dream of building the business to new heights, consolidating debts or even arranging funds for a marriage in the family, etc. The Loan against Property is offered against residential premises, a plot of land or commercial properties. A mortgage of property… Read More »
Gold has always been a blessing in disguise at the time of financial crunch. In international market, any time the market went down gold has been used for hedging the prices. Even in case of an individual, gold is a hedging tool .in time of financial crunch in an individuals’ life, gold has always helped… Read More »
This loan of Future Capital finances purchase of consumer durables, like LCD/LED TV, Microwave, Washing Machine, and Air Conditioner. This consumer durables loan makes these small comfort equipments affordable to the common man without much effort and easier repayment options. This is a kind of personal loan which makes ones home better equipped. The Consumer… Read More »
Reserve Bank of India (RBI) proposed the base rate system to replace the prime lending rate (PLR) for banks to bring about more transparency in the lending operations of the bank across the country. The base lending rate shows the actual cost to banks that has to be covered through lending. RBI’s definition of base… Read More »
A consumer forum held Bank of India, guilty of improper service after it issued two duplicate passbooks to the estranged wife of a client without the client’s knowledge and charged him for it. The South Mumbai District Consumer Disputes Redressal Forum ordered the bank to pay Mr. Amar Shukla Rs 13,000 for mental agony and… Read More »
A recent press report said that Vijaya Bank has planned to centralise its loan processing activities under the retail and MSME segments, so as to reduce the turnaround time in sanctioning loans. Mr. H.S. Upendra Kamath, Chairman and Managing Director of Vijaya Bank said that the bank is planning to strengthen the credit delivery mechanism… Read More »
A recent press report said that the Reserve bank of India has asked the banks to implement 1% interest subsidy on home loans up to Rs.15 lakh as per the budget announcement. The 1% charge will be implemented on home loan up to Rs. 15 lakh where the cost of the house does not go… Read More »