Sales of cars and two-wheelers kept on increasing in March despite latest price increases and partial withdrawal of stimulus package, aiding market leaders Maruti Suzuki and Hero Honda to superb sales in 2009-10. Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors, Ford, Fiat and TVS Motor also posted record annual sales and an unexpected… Read More »
The country’s 2nd biggest two- wheeler manufacturer Bajaj Auto today posted 85.12% increase in its motorcycle sales at 2,44,828 units in March. In March previous year, the company had sold 1,32,253 units, Bajaj Auto Ltd (BAL) said. During the full fiscal 2009-10, the company sold 25,06,749 units in the motorcycle division, an increase of 31.39%… Read More »
A new survey states that Indians are primarily looking to purchase houses costing Rs 20-50 lakh. This means the new housing projects costing crores of rupees may not have many takers. Moreover housing demand in the National Capital Region, which has seen an array of lavish and expensive projects being started in the recent past,… Read More »
The biggest lender in the country, State Bank of India has already started hiking interest rates on home loans. Being one of major players in the housing finance market, SBI has increased home loan rates despite carrying on with its teaser loan offer. The bank has increased the duration of its special home loans till… Read More »
HDFC Bank, a leading bank in the country that offers various banking services including Personal Loans has been penalized by the District Consumer Complaints Redressal Forum. The bank was held responsible for illegal fund transfer in an internet banking transaction. As per the order dated 25th March, the Forum has asked the bank to refund… Read More »
Hyderabad and Bengaluru are the 3rd most chosen real estate investment spots in 2010, nationally, as per online real estate website, Makaan.com. The real estate portal said that it held a nationwide online survey called Realty Trends 2010 for metros and Tier II cities throughout the country, which was participated by more than 4,800 prospective… Read More »
Czech luxury car manufacturer Skoda has introduced a new model of its sedan Superb which will be more than Rs 1.5 lakh less than the current automatic model. The company launched the Skoda Superb 1.8 TSI (Petrol) with manual transmission (MT) costing Rs 18.28 lakh (ex-showroom, Delhi).
India’s biggest bank SBI said it intends to recruit around 15,000 business correspondents this fiscal, who will assist rural people to open bank accounts. A top SBI official said, “In order to expand our presence in the unbanked areas, the bank intends to hire around 15,000 (business correspondents) in 2010-1”.
Now, with implementation of DTC, PPF will come under the EET (exempt, exempt, tax) regime. Under the EET model proposed by the DTC, contributions to PPF would be taxed at the time of withdrawal. However, balance accumulated or investments made till 31 March 2011 and the interest they earn will not be taxed. Hence only… Read More »
Many big banks have opted not to continue with the special home loan scheme called as teaser home loan. Banks such as Punjab National Bank, Corporation Bank, United Bank of India and Bank of Maharashtra have chosen to terminate this scheme.State Bank of India, the country’s biggest lender has increased the duration of this scheme… Read More »