A 19 October, 2011 circular of the National Housing Bank says no penalty or fee for prepayment of home loans can be charged, provided the ...
10:16 PM, May 17, 2013
Washington: The California-based subsidiary of State Bank of India (SBI) has agreed to take a series of steps to improve its banking practices related to bad loans following a review by US regulators. The largest Indian bank consented March 6, 2013 to the orders of the federal and state regulators "without admitting or denying any charges of unsafe or unsound banking practices relating to the June 18, 2012, examination". The...
04:28 AM, May 09, 2013
Mumbai: Banks will continue to sell pledged shares of Kingfisher Airline and invoke all other securities till they get back the dues, SBI Chairman Pratip Chaudhuri said on Tuesday. State Bank of India is the leader of consortium of lenders to grounded airline Kingfisher. "We have given instructions to recover and enforce all the securities. Our intention is to sell everything...all means of recovery (will be employed)...nothing would escape. Till...
10:16 PM, Apr 16, 2013
uzlon Energy, which recast its loans in January, is hitting the overseas bond markets to raise USD 650 million to prepay its forex debts, making it the first domestic company under CDR to do so, according to company and merchant banking sources. ...
12:44 PM, Mar 24, 2013
Citigroup Inc has agreed to pay $730 million to settle a class action lawsuit on behalf of investors who said they were misled by the company's disclosures. ...
05:42 AM, Mar 19, 2013
Tax expert Subhash Lakhotia joined IBNLive readers for an interaction on the impact of Budget 2013 on taxes and investments. ...
06:10 PM, Feb 28, 2013
Finance Minister P Chidambaram on Thursday announced a Rs 2,000 crore urban housing fund, while making luxury homes costlier by cutting abatement on service tax on a flat with a floor area of over 2,000 sq ft, or prices exceeding Rs 1 crore. ...
05:08 PM, Feb 28, 2013
Finance Minister P Chidambaram on Thursday raised tax deduction limit by Rs 1 lakh for the first time home buyers to promote the housing sector. "...a person taking a loan for his first home from a bank or a housing finance corporation up to Rs 25 lakh during the period April 1, 2013 to March 31, 2014 will be entitled to an additional deduction of interest of up to Rs...
01:55 PM, Feb 28, 2013
A day ahead of the Union Budget 2013, speculations are that Finance Minister P Chidambaram is likely to present a political budget ahead of the polls. But the question is whether it will reduce taxes for the aam aadmi. ...
09:29 AM, Feb 27, 2013
In the run up to the Budget Session, CNN IBN's 'Axe the tax' gets voices of Indians on their expectations from Budget 2013. A Chennai resident Ravikumar says he is hoping for tax deduction limit on housing loans. ...
10:50 AM, Feb 20, 2013
With banks planning to monetise Kingfisher Airlines' securities to recover a debt of about Rs 7,000 crore, the grounded carrier today said it was continuing discussions with its lenders and had not received any formal communication from them on the matter. "We have received no formal communication from the banks till date. We are in continuing discussions with them on ways to bring down their exposure, inter alia, from the...
10:10 AM, Feb 16, 2013
CNN-IBN's Budget Yatra has reached the country's cotton belt of Maharashtra. The Vidharbha region is infamous for farmer suicides and is still struggling with cotton production down by 40 per cent. In the same village that was visited by the Prime Minister who announced the farm waiver, six years later the situation is the same farmers are back in debt and struggling. Most say they are against free dole but...
08:59 AM, Feb 15, 2013
State Bank of India, the country's biggest lender, reported a 4 per cent gain in quarterly net profit, the smallest increase in more than a year, as higher provisions for bad loans and slower loan demand hurt growth. ...
01:07 PM, Feb 14, 2013
The RBI reduced repo rate by a widely expected 25 basis points, taking comfort from cooling inflation as it made the first cut in nine months to support an economy headed for its slowest growth in a decade. ...
11:47 AM, Jan 29, 2013
The Reserve Bank of India on Tuesday cut both repo rate and Cash Reserve Ratio (CRR). While the repo rate was cut by 25 basis points to 7.75 per cent, the CRR was slashed by 25 bps to 4 per cent. ...
11:24 AM, Jan 29, 2013
Lucknow: Samajwadi Party supremo Mulayam Singh Yadav's 73rd birthday has brought along a bonanza for Uttar Pradesh's farmers. His son and Uttar Pradesh Chief Minister Akhilesh Yadav has announced a waiver of farm loans up to Rs 50,000. Approximately 7.5 lakh farmers are likely to benefit from this scheme. The scheme is expected to cost the UP exchequer Rs 1,650 crore. In its election manifesto, the Samajwadi Party had promised...
01:49 PM, Nov 22, 2012
Mumbai: State-run banks and foreign banks were hit by bad loans as their non-performing assets rose, says the Reserve Bank. Led by state-run banks and foreign lenders, "the asset quality of the banking system deteriorated significantly in FY12 after a period of sustained improvement," says RBI report on 'Trend and Progress of Banking in 2011-12' released over the weekend. Non-performing assets of public sector banks rose to Rs 1,11,664 crore...
12:35 PM, Nov 11, 2012
New Delhi: Janata Party chief Subramanian Swamy has said that he will file a petition before the Election Commission of India on Saturday seeking de-recognition of the Congress party. He tweeted, "After the Congress confession of the loan crime (on Friday), I am filing a petition today before the ECI seeking de-recognition of Congress party." Breaking its silence, the Congress on Friday rejected allegations levelled by Swamy and maintained that...
08:59 AM, Nov 03, 2012
All eyes are on the Reserve Bank of India on Tuesday as it reviews its credit policy. It is up against stubborn inflation. Will we see a cut in interest rates? CNBC-TV18's banking editor Lata Venketesh tells us what to expect. ...
09:30 AM, Oct 30, 2012
New Delhi: Finance Minister P Chidambaram on Tuesday asked banks and financial institutions not to hesitate in giving loans to the poor, saying they are honest borrowers and do not default on payment. "The point which I have driven home so many times, the poor in India are not bad borrowers, the poor in India are not dishonest borrowers, the poor in India are ethical, honest, are deserving borrowers. Therefore...
03:10 PM, Oct 23, 2012
