A recent press report said that National Housing Bank (NHB) has announced that it will come up with directives regarding prepayment of home loans by borrowers. Banks do not charge prepayment penalty if the borrower prepays the loan from his own funds. The borrower will have to pay prepayment charges if he prepays the loan… Read More »
A recent press report said that the unlike ICICI and HDFC, other banks and housing finance firms might not come out with schemes offering dual interest rate housing loans on the back of higher provisioning norms stipulated by the Reserve Bank of India (RBI) for such advances. Reports said that Edelweiss Housing Finance (EHFL) which… Read More »
A recent press report said that the RBI has asked banks to implement various safety measures related to credit card and debit card usage over a period of next two years in order to minimize fraud cases and ensure security of transactions. Reports said that the RBI has asked banks to strengthen the existing payment… Read More »
A recent press report said that the rising interest rates have had little impact on home loans as borrowings have gone up 21% since March 2010 even as rates have gone up by around 300 basis points in the same period. Reports said that some of the borrowers have taken loans in from tier-I and… Read More »
A recent press report said that Banks’ discrimination of retail borrowers will reduce penal charges under many excuses which improve banks’ profits if the Reserve Bank of India implements the recommendations of a committee on customer service in banks. Reports also said that the retail depositors do not have to stuff their money under the… Read More »
A recent press report said that the Reserve Bank of India has allowed resident individuals to repay housing loans in rupee on behalf of their close relatives, who are non-resident Indians (NRIs) or People of Indian origin (PIO). Reports said that the Reserve Bank of India has announced that it has been decided that where… Read More »
A recent press reports said that banks are now under RBI scanner regarding any kind of criminal behavior showed by them in terms of customer service. The RBI has put forward measures on the basis of which banks would be held accountable. Banks will have to comply with BCSBI (Banking Codes and Standards Board of… Read More »
According to a recent press report, Tamil Nadu Chamber of Commerce and Industry has said that the Reserve Bank of India’s decision to increase the repo rate by 25 basis points will affect the common man and hold back industrial growth and investment in the country. According to Mr. N. Jegatheesan, President of the Chamber… Read More »
A recent press report said that NHB has said that it will soon come out with a directive to abolish penalty on pre-payment of floating loans. Mr. R. V. Verma, Chairman and Managing Director, NHB, said that it has planned to issue a circular for doing away with pre-payment charges levied by housing finance companies.… Read More »
A recent press report said that the National Housings Bank (NHB) has waived off the penalty on pre – payment of the home loans. This would help the housing finance companies (HFC) to have an edge over banks during this festival season. Bankers have said that the Reserve Bank of India (RBI) should also introduce… Read More »