State Bank of India (SBI) said it is losing the banking opportunities in the Middle East due to lack of regulations on Islamic banking in India. The Middle East is viewed as a major market for these products, due to high wealth in this area.
The car market is abuzz with news that Ford is ultimately available in the showrooms.The price of the petrol model of Ford’s new compact car Figo lies between Rs 3,60,000-4,50,000 and the diesel model costs from Rs 4,50,000 to5,45,000 (ex-showroom, Delhi).
Real estate developers are holding an emergency meeting to examine the effect of the service tax on housing and will speak to the government for rollback of the Budget scheme.
BMW has introduced 2 new models in its 3 series sedan class. BMW India’s president Peter Kronschnabl introduced BMW 320d corporate version (diesel) and the BMW 330i (petrol) as the 2 new BMW 3 Series sedans.
ULIPs basically work like a mutual fund with a life cover thrown in. They invest the premium in market-linked instruments like stocks, corporate bonds and government securities. Investments in ULIPs attract tax benefits under Section 80C. The returns and the lock-in period depend on the plan chosen.
The Reserve Bank of India is set to hike its short-term interest rates by April as a step towards coming out from the easy money era. This was stated by Deutsche bank. Pratik Gupta, head of equities, Deutsche Bank, said “Our assessment is that the RBI will hike the repo, reverse repo rates by April”.
A cartelisation of Mumbai’s real estate, in the case of transferable development rights has hiked the prices and also led to worries amongst policy makers. A recent development shows that mere 6 builders are in charge of 70% of the 2.5-3 million sq ft available TDR. The price of TDR has also gone up to… Read More »
Eliminating pre-payment penalty on loans might encourage banks to increase interest rates on loans to pass on their load on to the customers, according to RBI Deputy Governor Usha Thorat.
Japanese car manufacturer Nissan said it is holding talks with Ashok Leyland for development of a small car for the world markets that can cost about $4500-5000. The company said the project has yet to find a way out to manufacture such an economical car.
The exemption of customs duty on gold ores and concentrates for its manufacture will show a definite reduction in the cost of gold production which will be highly beneficial to the manufacturers. Gold bars other than tola bars will have a rise in price. The cost of export of plain gold and silver jewelry is… Read More »