Balance sheets form a fundamental documentation of an individual, company, non profit organization or government department or agency showing the current financial condition of the entity. It includes a glimpse into the assets and liabilities of the entity. A balance sheet therefore gives a picture of the net worth of an entity. Balance sheets generally… Read More »
According to Association of Mutual Funds in India (AMFI) guidelines, investments made through third-party cheques will not be accepted by mutual funds. A cheque issued and signed by any person other than the first holder of the investment is treated as a third-party cheque. There are a few exceptions applicable to this rule too. Payments… Read More »
In the background of the earthquake and tsunami in Japan, nuclear reactors have become a heated topic of discussion. Unaffected by the panic created by the nuclear radiation hazard that threatened Japan, India is likely to go ahead with its nuclear plans. Nuclear Power Corporation (NPCIL), the country’s sole nuclear utility, has approached a leading… Read More »
IndusInd Bank has tied up with a housing finance company (HFC) to originate and distribute mortgages for a fee. Under this agreement, the borrowers would be customers of the bank while being in the books of HFC. Currently, home and personal loan together account for just Rs 227 crore (1 per cent of book worth… Read More »
According to recent reports, Bajaj Auto, India’s second largest two wheeler makers have signed up with State Bank of India to offer finance to its dealers. The tie up will offer cash credit ranging from Rs. 25-lakh-Rs 5-crore to the dealers of Bajaj Auto. SBI has already captured a significant role in offering loans at… Read More »
An automated teller machine (ATM) is a machine which enables immediate cash withdrawal from a person’s bank account. This withdrawal requires an ATM card or ATM/debit card and the password to access the cash from the account. This removes the trouble of going to the bank were a person’s account is, to withdraw the cash… Read More »
Using cheques for financial transaction is more frequent these days. The use of cheque as a financial instrument is done in the good faith that the cheque will be honored and cleared when given in for processing in a bank. The condition when the actual financial transaction is not possible by the cheque or the… Read More »
Recent reports said that the rates of home loans will remain the same as there is lesser chance for it to rise in the current situation. Bankers said that there was enough liquidity in the system and so the interest rates will not go up. According to K. R. Kamath, Chairman and Managing Director of… Read More »
Recent reports said that demand for home loans have gone down recently. The market players have said that potential buyers are waiting for the high property prices to go down. They also fell that the high-interest rates could be one of the reasons for the lesser demand for home loans. The downtrend is more prevalent… Read More »
Foreclosure charges are the loan closing costs/additional fees associated with the closing of a loan, most often in case of a mortgage loan or home loan. These may include the costs of legal formalities, inspections, penalty fee, etc. In some cases, the payment of loan closing costs may be negotiable. Although the ministry of finance… Read More »