A recent press report said that National Housing Bank (NHB) has planned to be the housing sector’s window for external commercial borrowings (ECBs). It desires to pass on benefits of ECBs, including low cost, to the housing-finance sector without transferring any risks. Mr. R.V. Verma, Chairman and Managing Director, NHB, told the press that NHB… Read More »
A recent press report said that car manufacturers are bundling various offers and gifts to speed up the sluggish auto market. According to reports, Maruti Suzuki has offered discounts ranging from Rs. 20,000-Rs25,000 on Alto and Wagon R while Volkswagon India has offered a discount of Rs. 40,000 in the form of free insurance premium,… Read More »
A recent press report said that Dewan Housing Finance Corporation Limited has planned to raise about Rs 1,000 crore before end-2011 or in the fourth quarter of this fiscal. Mr. Anil Sachidanand, CEO, DHFC, told the press that the company was planning to raise capital of Rs. 750 crore to Rs 1,000 crore before this… Read More »
A recent press report said that banks are planning to improve their car loan book this festive season. SBI and HDFC have reduced their margin requirements for Tata’s Nano to Rs. 15000. If the borrower opts to take loan from Punjab National Bank then no margin money has to be paid for the Nano. Reports… Read More »
According to latest data released by the Reserve Bank of India, banks advances in the sectors like non-banking financial companies (NBFCs), industry, personal loans and services have remained healthy in the month of August. Reports said that the credit off-take in the services sector, led by a 55 per cent growth in advances in the… Read More »
A recent press report said that more than 8 cooperative banks have failed in this fiscal resulting in credit insurance company DICGC paying a little over Rs. 143 crore to depositors. Reports said that the eight cooperative banks include four are from Maharashtra, three from Karnataka and one from Gujarat. In the previous financial year,… Read More »
According to a recent press report, Reserve Bank of India’s chief has said that rupee has been depreciating continuously for last few months which have affected the import cost. He suggested that as a result of this problem, the growth of central bank has been declined and the foreign exchange rate is influenced by market… Read More »
According to a recent press report banking regulation is not supposed to set up an Automated Teller Machine (ATM) in the post office. India Post had planned to set up automated teller machines (ATMs) in its post offices but it has failed to get the acceptance from a banking regulator. India Post is in talks… Read More »
According to a recent press report, Canara bank has offered to reduce the interest rate for housing loans and home improvement loan by 50 basis points as festival offer. In accordance with these releases the bank has introduced retail loan festival from October10 to January 15, 2012 when these special offers of reduced interest rates… Read More »
According to a recent press report, the bill which will help in moving away the tough time for home loans and corporate defaulters is to be introduced in the parliament. The enforcement of security interest and recovery of debts law (amendment) bill 2001 plays an important role in this. Reports said that the proposed bill… Read More »