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Borrowers wanting to prepay home loans can look forward to some relief as the Reserve Bank of India (RBI) today said it would hopefully scrap the prepayment penalty within a month. “We will pursue with the banks to do this [ending prepayment penalties] as soon as possible. But should the system require some time to […]

As a step to maintain the momentum of credit growth during the ongoing economic slowdown, State Bank of Bikaner & Jaipur (SBBJ) will reduce its share of business in lending large corporate loans and, instead, focus on retail business. At present, the share of commercial loans (large companies) is close to 55 %. The Jaipur-headquartered […]

Evidently, the Indian consumer is unfazed by the gloomy pictures painted by commentators. Policy paralysis and governance gap are trendy phrases to use, but not much more than just that. Consider that listed Indian companies grew their top-line by an impressive 28% in the quarter ended September 2011 after a 27% growth in the previous […]

The .25 basis point hike in the repo rate will force banks to increase interest rates on home loans, further aggravating the current sales-crunch in the realty sector, spelling doom for all Diwali has always been considered as an auspicious and a good time by investors and builders alike. However, this festive season, it appears […]

One in four homeowners with a mortgage — 11 million people — owe more than their home is worth. These “underwater” borrowers have virtually no shot at refinancing. Their plight is a drag on the housing market and the broader economy. The Obama administration is hoping at least 1 million of these borrowers will take […]