Doing away with pre-payment penalty to burden customers: RBI
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.
Nissan likely to develop small car for world markets
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.
What can change for whom post budget 2010!
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 »
Budget 2010 impact on Auto, IT, Banking and more
For the auto sector, the budget did not roll back the stimulus package except for the 2% excise duty hike in passenger vehicles. The auto companies might pass on the hike to the consumers. Extension of R&D benefits will encourage investments in the sector. Higher thrust on agriculture will boost demand for tractors and increased… Read More »
Sales of Bajaj motorcycles zoom to 78% in February
India’s second biggest two-wheeler manufacturer Bajaj Auto posted 78.03% increase in motorcycle sales at 2,34,623 units in February. Last year, the company had sold 1,31,785 units in the same month, a statement by Bajaj Auto Ltd (BAL) said.
HSBC India reports 44% reduction in profits
HSBC India has reported a reduction of 44% in net profits for the year ending 31st December 2009. This reduction is due to loss of Rs. 1000 crore suffered by the retail banking arm of the bank. The commercial banking arm of the bank has also reported a decline. However the bank’s gains from its… Read More »
SBI to benefit from govt’s decision on farm loan repayment
State Bank of India (SBI) will be the largest recipient of the government’s decision to offer farmers more time to repay their loan. In his budget speech, finance minister said that the government will increase the repayment duration under one-time settlement (OTS) scheme by 6 months till June 2010.
Tata Motors’ profit soars 58%
The country’s biggest carmaker, Tata Motors posted an increase of 58% in its sales for the month of February. It sold 69,427 units, as compared to 43,811 units sold in February previous year.
RBI data on bank spread to frustrate Pranab’s hopes
Finance Minister Pranab Mukherjee intends to increase the area-wise spread of banks and mentioned in his budget speech that RBI was thinking about permitting more private players in banking.
Planning your retirement
As you plan for retirement, your portfolio should consist of a range of instruments (equities, mutual funds, bonds, debentures, property, gold) depending upon your objectives and risk profile. Remember that the older you are when you start to save towards retirement, the harder it becomes. Also, with falling interest rates and increasing volatility in the… Read More »