Tag: Bank Of India

RBI Increases Loans On Realty

April 16, 2010 – 8:01 am

The Reserve Bank of India has asked banks to set aside more pelf for loans to realty projects which may eventually make borrowing more costly for builders. An increase in capital requirement will force banks to hike the rate of interest on such loans. SA Bhat, chairman and managing director of Indian Overseas Bank gave [...]

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Home buyers to return back

January 8, 2009 – 4:17 am

Home buyers could arrive back in the Indian real estate market in force after the Reserve Bank of India reduced rates and the cash-reserve ratio requirement. The bank slashed the repo rate by 100 basis points to 5.5% and the reverse repo rate to 4%. Officials also lowered the cash reserve ratio by 50 basis [...]

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RBI works to boost up market

January 3, 2009 – 5:30 am

Unveiling the package moments after the Reserve Bank of India slashed its key policy rates, the government said it was preparing to recapitalise state-run banks to the tune of twenty thousand crore rupees over the next couple of year to ensure the banking system does not suffer from capital adequacy constraints. Speaking on the actions, [...]

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Realtors may cut prices by 30%

December 10, 2008 – 6:33 am

DLF, Unitech and other real estate developers may lower prices by 30% by mid-2009 to nudge buyers out of their “wait and watch” stance, according to experts. The price cut, if implemented by the country’s builders will also push sales higher, especially of the affordable category, property consultants said. ”Many developers will come down on [...]

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JP Morgan plans to invest 1 bn dollars

December 9, 2008 – 1:03 am

JP Morgan India Pvt. Ltd. is working on a plan to invest 1 bn dollar in multiple industrial sectors in India. Kalpana Morparia, JP Morgan India’s chief executive officer, recently revealed that the company has invested nearly 500 mn dollar from the fund in 4 sectors of the Indian economy – real estate, infrastructure, manufacturing [...]

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Realtors say, Just in time

December 8, 2008 – 5:59 am

Real estate companies have welcomed the government’s move to ask banks to announce a separate package for borrowers of home loans in the affordable housing segment as part of the overall stimulus plan to revive demand in the economy. “We welcome various measures announced today by the government in its economic stimulus package. These measures [...]

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India’s economic growth falls further to 7.6%

November 28, 2008 – 10:56 am

India’s economic growth declined to 7.6% for the second quarter of this fiscal, leaving industry with the hope that policy measures taken over the past month will avert a further fall and help revive manufacturing. The country’s growth was 7.9 percent during the first quarter of the fiscal (April-June) and 9.2% during the second quarter [...]

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RBI makes recast of realty loans tougher

November 20, 2008 – 8:06 am

India’s struggling real estate sector is set to come under further pressure in the coming weeks as the Reserve Bank of India (RBI) has made it tougher for banks to ‘restructure’ loans, forcing them to cut house prices or risk being starved of bank funding. Banks often resort to restructuring loans — a practice aimed [...]

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Save money by shifting home loan to public sector banks

November 15, 2008 – 5:10 am

The Indian government is trying hard to bring down the interest rates in order to counter the economic slowdown. Indian finance minister, Mr. P. Chidambaram, met with heads of private as well as PSU banks and advised them to lower lending rates. Expectedly, several public sector lenders were first to follow the advise. SBI have [...]

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Home loan sales reviving

November 11, 2008 – 1:44 am

Bankers believe their strained home loan portfolios will see relief in the coming quarters, with interest rate cuts coming into force. “We expect our home loan offtake to increase by 22 per cent y-o-y next quarter with the fall in interest rates,” said B.R. Pai, General Manager, Syndicate Bank. The bank, which has sixty-five hundred [...]

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Borrowers will have to wait for lower lending rates

October 22, 2008 – 5:16 am

According to HDFC chairman Deepak Parekh, lending rates would ease only after deposit rates come down, which will take some time to happen. The statement comes at a time when most people hoped that banks would start lowering their lending rates, following the recent repo cut by the Reserve Bank of India (RBI). Welcoming the [...]

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How will India Survive In Global Financial Crisis

October 15, 2008 – 1:36 am

The significance of the financial crisis that has hit the US economy can be measured from the fact that the cost of the rescue of these financial giants to the Federal Reserve and Treasury Department has been estimated at close to a trillion dollars. According to some analysts, the total cost on this count could [...]

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Overbuilding Promises A Kick In The Gut For Realtors

September 28, 2008 – 11:31 pm

Nipun Sahni, director and global head of commercial real estate at Merrill Lynch Capital, says the number of information technology parks and special economic zones in the 21-km Old Mahabalipuram Road — popularly known as OMR — in Chennai surpasses demand in the entire IT industry in India. he said at a Ficci seminar, “It [...]

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Ten Billion Dollar Ready To Make India Entry Through FVCIs

August 27, 2008 – 2:54 am

Lack of clarity over foreign venture capital investments (FVCIs) in India has led to 83 applications from foreign venture capital firms piling up with the Reserve Bank of India for approval. Of these, about 28 venture funds (non-real estate funds) which have sought approval have committed close to $10 billion to India, according to lawyers [...]

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Indians Show Interest For Foreign Property, Stocks

August 1, 2008 – 5:53 am

The savvy Indian investor is no longer content with restricting his investment horizon to the equity or property markets at home. A growing number of Indians are now buying property abroad and also taking an exposure to stocks of foreign firms and debt products. Hard numbers are a testimony to this fact. From a mere [...]

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SBI Recovers Two Thousand Crore Rupees’ Bad Loan

July 15, 2008 – 3:53 am

State Bank of India is likely to report an improvement in its asset quality when it presents its first quarter results. According to top SBI sources, the bank has recovered bad loans worth around two thousand crore rupees during April-June 2008. Top SBI executives, when contacted, refused to comment. SBI managing director S K Bhattacharya [...]

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Realty stocks gain ground

April 29, 2008 – 5:49 am

Realty stocks, which opened on a subdued note this morning, are among the prominent gainers in afternoon trade. Mirroring investor interest for these stocks, the BSE Realty index has spurted 3.7% now. Sector heavyweight DLF has gained nearly 7% at Rs 715. Unitech, a Nifty component, has posted a gain of 4.6%. Penland, HDIL, Sobha [...]

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Rs Two Thousand Crore Budget Booster For SIDBI To Lend More

March 10, 2008 – 10:52 am

With the support of a fund of two thousand crore, announced in the Union Budget of this financial year, for improving credit flow to small and medium firms, the Small Industries Development Bank of India (SIDBI) will build up its strong presence in industrial sector.

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Loans to get cheaper as SBI cuts rate again

February 21, 2008 – 3:41 am

SBI has decided to cut the home loan repayment rate. After going up for months, EMIs are set to come down. This follows a decision by four public sector banks, led by SBI, to cut their prime lending rates further by 0.25% to 0.50%. SBI’s new PLR will be 12.25%, effective from February 27. Canara [...]

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