A recent press report said that the National Housing Bank (NHB) has planned to take a decision on whether there will be a complete on floating-rate home loan. According to Mr. R. V. Verma, NHB chairman and managing director told the press that the decision will be in the best interest of the borrowers. He… Read More »
A recent press report said that the Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees five lakh only) on Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS)… Read More »
A recent press report said that the Reserve Bank of India, in its recent notification has made it clear that banks that offer loan to farmers under the Kisan Credit Card will be treated as direct finance for agriculture under priority sector lending. The RBI reports mentioned that the credit under the KCC is mainly… Read More »
A recent press report said that Canara Bank has reduced rates of interest on housing loans and home improvement loans by 50 basis points across all slabs and tenures as a special offer for the festival season. The rates will be applicable from October 10 to January 15, 2012. Reports said that he bank has… Read More »
Diversification is the mantra for any successful portfolio. It helps the investor in minimizing their risk and maximizing their gains over a period of time. Many advisors preach the following saying”Do not put all your eggs in one basket”. This rule should be followed religiously. In some cases, investors just get lucky by a hair… Read More »
This is mostly answered by approaching a Mutual Fund manager. The manager will ask you a dozen questions wherein he will be able to analyze what are your goals and the investment tenure that you are looking for. Depending on that he will pull out a list of Mutual Funds that have performed well in… Read More »
A couple of decades back, not many people realized the value of a Mutual Fund or the way its transactions are to be dealt. They thought of Mutual Funds to be instruments that can help them gain a lot of profit over their investment plus cost. But, when a wave of disaster hit them, it… Read More »
According to a recent press release, ICICI bank has announced that it would lend home loans at a fixed rate for the first two years. The interest rates would remain fixed for the first two years and after two years the rate would be converted into floating interest rate. The Base rate and Margin would… Read More »
A recent press release from HDFC bank said that the bank, which is the country’s second largest private lender, has entered into a strategic alliance with Diners Club International to offer Diners Club premium credit cards to the country. According to the statement of the bank, HDFC which is already the country’s largest credit card… Read More »
A recent press report said that the plan of setting up automated teller machines (ATMs) by India Post was not allowed by the Reserve Bank India. As per norms of RBI only banks are allowed to set up ATMs and this made RBI to oppose the ATM set up plans proposed by India Post. According… Read More »