India’s biggest carmaker, Maruti Suzuki, said it has exceeded the highlight of producing 3 lakh K Series engines, its most advanced engine which powers new variants, including A Star, Swift, Swift Dzire and Ritz. The record was achieved within 19 months of launching the engine series in India, a top company official said. The official… Read More »
Many buyers are not able to purchase homes after the prices zoomed by around 30%, since the condition of real estate sector started improving from August 2009. Said a buyer, “In the last few months, we have seen several short bursts of price rise, so much so, that in spite of increasing our budget by… Read More »
Unlike most countries, multi-layers of loan securitisation, derivatives trading using deposit holder’s money, and lending to known sub-prime quality borrowers are not allowed in India. RBI has also been strict in monitoring the health of the banks using several measures and reports.
Dhanlaxmi bank is all ready to venture into the retail loan business this year from July. The bank has prepared plans to generate capital worth Rs. 150 crore from issuing bonds. The bank says that money gathered would boost its Tier II capital and assist it in retaining capital adequacy ratio (CAR). The bank’s present… Read More »
Public sector bank, Corporation Bank has fixed a target of 25% for itself this fiscal. The bank intends to expand its loan book by 25% and deposits by 22% in the FY’11. It includes increase in personal loans. This goal has been fixed by the bank due to demand from the retail and infrastructure sector,… Read More »
Lending rates have begun increasing, starting from sub prime lending category, making home loans costlier. Banks usually lend to credit worthy customers at rates far below the
Kotak Mahindra Financial Services Limited, a division of the Kotak Mahindra Group, has obtained the Dubai International Financial Centre (DIFC) license permitting it to give credit or participate in investment, counsel on financial products and credit, and arrange custody from its DIFC-situated office.
Public sector bank, Corporation Bank is planning a rights issue of about Rs 3,000 crore in H2 FY 11 to improve its loan-book. JM Garg, Corporation Bank chairman and MD said, “We would like to raise capital of at least Rs 3,000 crore through a rights or follow-on issue in the second-half of FY 11”.
Teaser interest rates are a subject of regulatory worry, minister of state for finance Namo Narain Meena said. RBI had already expressed worries about teaser home loans being offered by banks. Mr Meena said, “Borrowers with low financial means may get attracted to such loans on finding the initial low interest rates to be within… Read More »
Major real estate firms of the country are under investigation by enforcement agencies for alleged breach of FDI terms and utilization of slush funds valued at several thousand crore brought in from some tax havens.