Religare Enterprises has purchased a portion of Citigroup India’s home loan portfolio for a sum of Rs 500 crore. The portion of portfolio sold by Citi comprised of 5% of the overall home loan book of the company.
Tata Motors is ready to join Maruti Suzuki in the million unit club this year, making it another highlight for one of India’s oldest car makers and ripening of the local automobile sector, whose volumes have traditionally lagged those of its oversees counterparts.
The French car major Peugeot Citroen SA is set to enter Andhra Pradesh. Now the state is looking forward to another proposal from Hyundai. The Korean car manufacturer had approached the state with plans to open a unit to produce spare parts.
Godrej Properties, the Adi Godrej-led real estate venture, is ready to finish a redevelopment transaction in south Mumbai in this quarter, sources say. Moreover its land transaction with Jet Airways at Bandra Kurla Complex, which was supposed to end on July 15, has now been increased up to the end of the month, sources say.
Home-loan disbursements have picked up as interest rates are under check. RBI is also taking steps to bring in the revival in the real estate sector. RBI has already stated that the current customers should be offered an alternative between continuing with their old home loan rates or move to new rates decided by the… Read More »
The sum assured for ULIP products have been enhancedto 10x of the premium amount from the current 5x for individuals below 45 years and for those above 45 years, it has been increased to 7x. This will ensure that individuals get a fair amount of insurance coverage, the basic objective for which this product is… Read More »
If the gross receipts are less that Rs 1.5 L the assessee has to maintain his accounts which enables the Income Tax official to compute the taxable income. In the case of the gross receipts exceeding Rs 1.5L, the assessee has to maintain books of accounting like the cash book, journal, ledger, copies of bills… Read More »
Recently, RBI Governor, D Subbarao has indicated that RBI is in favor of deregulating the savings bank interest rate, which is currently fixed at 3.5% p.a. for deposits up to Rs. 2 lakh. Deposits over Rs. 2 lakh are currently deregulated allowing banks to fix their own rate. Interest on savings bank account is the… Read More »
Although easing liquidity is not in sync with the rate hike, RBI has decided to go easy on liquidity because of the temporary liquidity squeeze on account of advance tax outflow and 3G spectrum payments. RBI has decided to extend its liquidity management measure of 0.5% of the bank’s net demand and time liabilities under… Read More »
Just like how today there is a variation in the BPLR by banks, so also the base rates across banks are likely to vary. That is because, cost of funds for each bank is different and given that costs would be the primary factor determining the base rate, the same will vary. However the variation… Read More »