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  • RBI eases rules for low-cost home loans November 27, 2014

    Mumbai: The Reserve Bank of India (RBI) has eased norms to fund low-cost housing by permitting banks to extend loans against long-term infrastructure bonds. The RBI however barred lenders from providing loans against long-term infrastructure bonds issued by other banks. "Further, such loans should be subject to a ceiling, say, 10 lakh...
  • Ready to be more flexible in loan recast to spur growth: RBI November 25, 2014

    Anand: The RBI is ready to give banks more flexibility in restructuring of stressed loans if it facilitates recovery of stalled projects, Governor Raghuram Rajan on Tuesday said. "The RBI is exploring ways to allow banks more flexibility in (loan) restructuring. This is a risk we are prepared to take...
  • Reliance Jio signs $1.5 billion sydicated term loan facilities November 17, 2014

    Mumbai: Reliance Jio Infocomm Limited (RJIL) has signed syndicated term loan facilities aggregating to $1.5 billion. The facility is guaranteed by Reliance Industries Limited (RIL) and will be used to refinance the syndicated term loan facilities. The facility was fully underwritten by an initial group of 15 core relationship banks that...
  • RBI talking to government about more gold import curbs November 17, 2014

    New Delhi: The Reserve Bank of India (RBI) is in talks with the government to increase curbs on gold imports, Deputy Governor SS Mundra said on Monday, reflecting policymakers concerns that a jump in inbound shipments will worsen the country's trade deficit. Mundra's comments come on the same day that trade...
  • RBI against loan waiver scheme by state governments November 13, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan expressed reservation over the loan waiver scheme by various state governments and also suggested reasonable interest rate ceiling on loans from microfinance lenders. "Repeated loan waivers by various state governments distorts credit pricing, thereby also disrupting the credit market," he said at a function...
  • Andhra Pradesh government seeking funds to implement mega loan waiver September 17, 2014

    Hyderabad: Desperate to keep its prepoll promise of loan waiver to farmers, the Andhra Pradesh government is seeking funds from different quarters to go ahead with the financially debilitating scheme. "The Andhra Pradesh Government open for funds for rythu runamaafi (farmers' loan waiver)," an official statement said on Wednesday. As a...
  • 100 pc subsidising of loans of miningdependent not possible: Goa CM September 10, 2014

    Panaji: The Goa government has said that it would not take over the loans taken by those who are dependent on the mining industry, despite demands from some quarters. "We have offered a scheme whereby 35 per cent of the onetime loan settlement amount is paid to the borrower. Some...
  • RBI allows ECB lenders to extend loans in rupees September 3, 2014

    Mumbai: Relaxing norms for external borrowings, the RBI today allowed ECB lenders can now extend loans in Indian Rupees to domestic businesses. "With a view to providing greater flexibility for structuring of external commercial borrowings (ECB) arrangements, it has been decided that recognised nonresident ECB lenders may extend loans in...
  • Budget session of Andhra Pradesh Assembly begins on Monday August 17, 2014

    Hyderabad: Presentation of Budget, Telugu Desam Party government's white papers on different sectors, its proposed 'vision documents' for development and poll promises like farm loan waiver would be part of the agenda of Andhra Pradesh Assembly's Budget session which begins on Monday. This would be the first Budget session of the...
  • CBI probes Rs 900 crore loan given to Kingfisher Airlines by IDBI bank August 10, 2014

    New Delhi: The Central Bureau of Investigation on Sunday begun a probe into Rs 900 crore loan given by the IDBI Bank to the now defunct Kingfisher Airlines. The loan was given in 2009 despite an internal bank report that the aviation company was in the red. The report was...
  • National Herald case: HC stays lower court's summons to Gandhis till August 13 August 6, 2014

    New Delhi: The Delhi High Court has stayed a lower court's summons to Rahul Gandhi and Sonia Gandhi in the National Herald case till August 13. The Congress leaders were summoned in relation to the alleged misappropriation of assets worth Rs 2000 crore of the National Herald newspaper. Senior Congress leader...
  • Tata Power Solar partners Bajaj Finance for selling products July 17, 2014

    New Delhi: Tata Power Solar has partnered with Bajaj Finance to provide interestfree loan options for solar products of about Rs 2.5 lakh to consumers. "This national financing tieup will help make solar much more attractive and an affordable alternative to conventional power sources," Tata Power Solar said in a statement. The...
  • Farm loan rescheduling in AP, Telangana yet to get RBI nod July 14, 2014

    Hyderabad: The Reserve Bank of India is yet to give its approval for the proposed rescheduling of farm loans in Andhra Pradesh and Telangana, its Deputy Governor R Gandhi said on Monday. Contrary to claims made by the Andhra Pradesh government that RBI had agreed to the farm loan rescheduling, Gandhi...
  • Budget 2014: Tax exemption limit raised to Rs 2.5 lakh from Rs 2 lakh July 10, 2014

    New Delhi: In a minor relief to the individual tax payers, the Narendra Modi government in its maiden Union Budget raised the income tax exemption slab from Rs 2 lakh to Rs 2.5 lakh. "I propose not to make any changes in the tax rate. However, with the view to provide...
  • Budget 2014 should help NBFC sector serve Indians better: Muthoot Finance July 3, 2014

    Muthoot Finance is the largest gold financing company in India in terms of loan portfolio, according to the 2010 update to the IMaCS Research & Analytics Industry Reports, Gold Loans Market in India, 2009. With the Narendra Modi government ready to present its first Union Budget on July 10, 2014,...
  • UP has loan of Rs 2.36 lakh crore from Centre, financial institutions July 1, 2014

    The Uttar Pradesh government said it has a loan of Rs 2.36 lakh crore from the Centre as well as various financial institutions. "The state has loan of Rs 2,36,795.29 crore from the Centre and other financial institutions," Forest Minister Fareed Mahfood Kidwai, speaking on behalf of Chief Minister Akhilesh Yadav...
  • Axe the tax: Home buyers seek exemption on loans July 1, 2014

    Kolkata: With a boom in the real estate sector, property prices have shot up dramatically in the recent years. 54yearold Sandeep Chatterjee who invested not just his life savings but also took a home loan at a hefty interest rate to build a dream home for his family of five,...
  • Justin Rose triumphs in playoff to win his sixth PGA Tour title June 30, 2014

    Justin Rose emerged last man standing to win the $6.5 million Quicken Loans National at the first extra hole in a playoff at Congressional Country Club in Maryland on Sunday. Britain's Rose sank a 15foot bogey putt at the final regulation hole before parring it a few minutes later to edge...
  • Tiger Woods misses the cut at Congressional June 28, 2014

    Tiger Woods got the competition he wanted, even if it was only for two days. In his first tournament in more than three months because of back surgery, Woods made backtoback birdies around the turn at Congressional and was one shot off the cut line when it all fell apart...
  • If I were FM: Expectations of people from the upcoming 2014 budget June 23, 2014

    CNNIBN reporter talks to people in Bangalore regarding their expectations from the 2014 budget. A student tells us how a reduction in the taxes is the need of the hour."So much of our income goes into paying education loans that the rebate for such a loan is still not good...
  • Crop loans worth Rs 1,000 crore disbursed in the state June 23, 2014

    Crop loans of over Rs 1,000 crore have been disbursed in Chhattisgarh during the ongoing kharif season so far. The Chhattisgarh State Cooperative Bank has set a target to disburse Rs 2,450 crore shortterm crop loans through its primary agriculture cooperative committees to farmers this kharif season, an official statement said. Sums...
  • 'Rusty' Tiger Woods will return to competitive golf next week June 21, 2014

    Tiger Woods, out since late March after having back surgery, will return to competitive golf at next week's Quicken Loans National at Congressional Country Club in Bethesda, Maryland, the former world number one said on Friday. Woods said he expected to be rusty but was excited to be returning. "I've just started...
  • Telangana CM promises waiver of crop loans worth Rs 12,000 crore June 4, 2014

    Sangareddy: Telangana Chief Minister Kalvakuntla Chandrasekhar Rao (KCR) said here on Wednesday that crop loans worth Rs 12,000 crore and transport tax for auto rickshaws would be waived off, while the Gajwel Development Authority would be constituted shortly. Addressing a public meeting this evening at Gajwel town which is in the...
  • 10 financial steps you must take before you retire April 9, 2014

    Do not put off today what you cannot afford to do tomorrow. In spite of the world wide pension crisis and a growing acceptance that we must plan and save for our retirement, the harsh reality is we are actually not saving enough. Research reports reveal that only 15 per...
  • Chidambaram to discuss United Bank crisis with RBI Governor March 5, 2014

    New Delhi: Finance Minister P Chidambaram on Wednesday said he will discuss United Bank of India's bad loan crisis with the Reserve Bank Governor later this week. "United Bank is a special case. We will deal with that. It's not an alarming case...UBI issue will be discussed separately when the governor...
  • Education sector gets about 9 per cent hike February 17, 2014

    New Delhi: The education sector has got about nine per cent hike in the Interim Budget presented on Monday by Finance Minister P Chidambaram, who also proposed a moratorium on repayment of education loans, benefiting nine lakh students. The minister proposed a plan outlay of Rs 67,398 crore for the sector,...
  • Role of banks in disbursement of loans 'objectionable', says Nitish Kumar February 17, 2014

    Describing role of banks in disbursement of loans in Bihar as "objectionable", Chief Minister Nitish Kumar on Monday said that the Cash deposit (CD) ratio in the state was still very low and said the state government would strongly take up the matter with the Centre. On suggestion of the chief...
  • Asian Development Bank to give $200 million loan for infra building in calamity hit areas February 5, 2014

    The Asian Development Bank on Wednesday signed a USD 200 million loan agreement with India to helprehabilitate people who were affected by floods and landslides in Uttarakhand last June. "The loan will help in the economic and social recovery of Uttarakhand by rebuilding roads and bridges, tourism infrastructure, and urban water...
  • Tripura: Manik Sarkar urges banks to increase loan sanctions for poors January 16, 2014

    Requesting to sanction more loans to the poor, Tripura Chief Minister Manik Sarkar on Thursday requested United Bank of India (UBI) authorities to increase its credit deposit ratio from 39 per cent to 50 per cent in this financial year itself. Sarkar said this while inaugurating ten new branches of the...
  • SBI slashes home loan rates by up to 0.4 per cent December 19, 2013

    Country's largest bank SBI on Thursday cut home loan rates by up to 0.4 per cent for new borrowers, a day after RBI kept its key policy rates on hold. Women borrowers would get an additional 0.05 per cent concession on card rates. SBI home loans will now be available under...