The Reserve Bank of India is expected to further tighten its monetary policy during its April 20 policy review to control shooting inflation, according to financial Services secretary R Gopalan. Gopalan said, “I share the view of some experts that some further amount of tightening is required”. The central bank is examining its monetary policy… Read More »
The forthcoming monetary policy is expected to lead to an increase in interest rates by the banking industry. Home loan rates are very likely to increase post this credit policy review. Experts claim that if home loan rates increase by over 2% then the housing sector is expected to be badly affected. Anuj Puri, ones… Read More »
Rising inflation rates when the economy is on the way of recovery may pressurize RBI to hike the policy rates along with Cash Reserve Ratio (CRR) still more. This increase is most likely to occur on 20th April 2010 when the RBI is set to introduce the monetary policy for this financial year, bankers said.… Read More »
Home loan market is again rising high. Credit offtake in this sector has taken a giant jump in the final 2 quarters of the FY’10 as against to the 1st 2 for leading players- SBI and HDFC. HDFC is anticipating a 20% increase in the final quarter of the previous fiscal while SBI anticipates 30%… Read More »
German luxury car manufacturer Audi has introduced a limited version of the diesel prototype of its Q7 sports utility vehicle at a specifically reduced price of Rs 58.68 lakhs or Rs 5.86 million (ex-showroom Mumbai), which is Rs 7,45,000 below the current car. With low-cost car loan, it can easily become more affordable for a… Read More »
With base rate coming into effect from July it an end for teaser loan schemes. The banks had introduced these schemes last year for home loan as well as car loans in which the customers were given loans at rates as low as 8%. The teaser loans were given below the BPLR. The country’s biggest… Read More »
India’s second biggest public sector bank, Punjab National Bank has stated that it would not be hiking interest rates in the immediate period saying that there is adequate liquidity in the system. PNBChairman K R Kamath said, “There is no problem of liquidity … (therefore) no possibility of interest rates going up now”. This means… Read More »
Home loan rates may increase making borrowing costly for builders. It is expected that RBI may ask banks to provide more capital for loans to real estate projects. If this occurs then banks would require more capital which would force them to increase rates of home loans. It is believed by top banking officials that… Read More »
Deutsche Bank AG has said that it would be commencing its retail operations in Ludhiana. The bank had just started its branch in Moradabad on 10th April 2010. With this the total number of branches of the Deutsche Bank in India has gone up to 15. The Ludhiana branch would be offering the bank’s… Read More »
The Reserve Bank of Indiahas stuck to its stand that the commercial banks should not ask collaterals on education loans for sum below Rs. 4 lakh. The RBI had first issued this order in the year 2001. It has been pressurized to restate its guideline after reports from numerous sources that banks are asking collaterals… Read More »