HDFC Chairman Deepak Parekh has lashed out at the government for it's policy flip flops. ...
08:39 AM, Apr 18, 2012
New Delhi: After three years and 13 consecutive rate hikes, the RBI has finally reversed the gear. In a surprise move, the RBI cut the repo rate - at which it lends to banks - by half a per cent. It is a strong signal to banks to cut interest rates on loans. Deepak Parekh said, "RBI has bitten the bullet." The banks admit the signal can't be ignored -...
08:59 PM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points from 8.5 per cent to 8.0 per cent but did not touch the cash reserve ratio, which remains at 4.75 per cent. The cut in the repo rate is an indication that banks could reduce the interest rates on home and car loans. Following is the full text of RBI's Monetary Policy for...
11:35 AM, Apr 17, 2012
CNBC TV18's Banking Editor Latha Venkatesh explains how the decision's taken at the RBI's credit policy meet on Friday will impact consumers. ...
08:10 AM, Dec 16, 2011
Kiran Bedi's travel agent quits her trust. Loans to get costlier as RBI hikes rates again. ...
11:18 PM, Oct 25, 2011
Mumbai: A day before Diwali, the Reserve Bank of India on Tuesday increased the repo rate by 25 base points to 8.5 per cent in its mid-year-credit policy. This move will lead to costlier loans for the consumers. But on the positive note, no more pre-payment penalty will be charged on home loans and one will also get higher interest on his bank deposit. Following the announcement the reverse repo...
11:07 AM, Oct 25, 2011
New Delhi: The Reserve Bank of India will be announcing its mid-year credit policy on Tuesday, which may dampen the spirit of Diwali as it is expected to increase the repo rate by 25 basis points to 8.5 per cent. This will be the 13th raise in last 19 months. Repo rate is the rate at which the RBI lends money to banks. A higher repo rate pushes up banks'...
07:30 AM, Oct 25, 2011
Mumbai: The Reserve Bank of India (RBI) is widely expected to again hike key policy rates on Tuesday to curb stubbornly high inflation. The 13th hike since March 2010 will make home and auto loans costlier and put further pressure on economic growth. With food inflation entering double digit figures and headline inflation almost touching the mark, most analysts feel the central bank would increase repurchase rate by 25 basis...
04:56 PM, Oct 24, 2011
New Delhi: There is good news for millions of house owners, who have acquired their homes on EMIs, before Diwali. The housing finance regulator, National Housing Bank, has banned the levy of pre-payment penalty. As per the new norm, there will be no penalty charges even if the pre-payment is made through funds from other banks and finance companies. This move will help all the homeowners who have availed loans...
11:08 AM, Oct 20, 2011
Mumbai: Housing mortgage lender HDFC on Monday reported a 20 per cent increase in its net profit to Rs 971 crore for the second quarter ended September 30 vis-a-vis the corresponding period last fiscal. Housing Development Finance Corporation (HDFC) had posted a net profit of Rs 807.54 crore for the July-September quarter of 2010-11. The company's total income increased to Rs 4,169.14 crore during the September quarter from Rs 2,970.22...
03:14 PM, Oct 17, 2011
Mumbai: The Land Bill cast a dark cloud over planned townships, reducing chances of availability of good homes at affordable rates. Now, looks like the interest rate hike is going to rain it down hard, making affordable housing almost akin to a dream. RBI on Friday hiked base rates for the 12th time in 20 months by 25 basis points to 8.25 per cent. The bankers are neither ruling out...
03:30 PM, Sep 16, 2011
New Delhi: The Reserve Bank of India (RBI) is likely to hike interest rates by 25 bps on Friday as inflation nears double digits. It will be the twelfth hike in 18 months. While home loan EMIs may go up as a result of the RBI rate hike, the fixed deposit (FD) rates are also expected to go up. Already interest rates have been hiked for industrial borrowers and now...
06:44 PM, Sep 15, 2011
New Delhi: The Reserve Bank of India (RBI) might hike key interest rates at its policy review on Tuesday to tame inflation. The hike is likely to further dampen the demands for home and car loans which are already the lowest in recent months. The RBI on Monday gave strong hints of another hike - the 10th in the last 15 months - saying that high inflation requires further monetary...
07:36 AM, Jul 26, 2011
Mumbai: The Reserve Bank of India (RBI) on Monday raised the repo (rate at which it lends to banks) and the reverse repo (rate at which it borrows) rates by 50 basis points to 7.25 per cent and 6.25 per cent. RBI Governor D Subbarao in his credit policy announcement on Tuesday, said resurgence of inflation remains a concern while announcing the increase in repo rate. The central bank in...
11:13 AM, May 03, 2011
Mumbai: Amid concerns expressed by the Reserve Bank, country's largest lender State Bank of India (SBI) on Wednesday announced withdrawal of special home loan schemes, or teaser rates, with effect from May 1. SBI Easy Home Loan and SBI Advantage Home Loan (teaser rate products) will be replaced by floating interest rate schemes on par with other commercial banks. Under the teaser home loan scheme, SBI was offering lower rate...
07:12 PM, Apr 20, 2011
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