Asks lenders to make sure that end use of advances to commercial real estate.
An official of one of the biggest travel agencies in the country said that internationally, exchanging currency at the airport is most expensive as they charge higher rates. This is because travel agencies have to pay higher lease rentals at the airport. Also, the authorities share revenues.
The slowdown coincides with rising loan defaults by retail customers and small enterprises, which have been hit by a steep rise in lending rates. The resource scarcity has changed the priority of investors. They want to remain liquid and not commit their funds to the long term.
Experts explained that normally, the IT department sends notices to only those people whose yearly credit card transactions cross Rs 200,000.
At this time of fear and apprehension over jobs, public sector banks are swimming against the tide to go on a hiring spree.
Kerala-based private sector lender Dhanalakshmi Bank plans to recruit close to 400 employees, almost one-third of its present strength, to build up the existing team to tap more business
However, the norms have become extremely stringent. The overall tight situation in the credit market has hit consumers quite badly.
Most banks are going slow on clearing such loan applications as the employment scenario has turned adverse due to the financial crisis faced by most companies.
Security experts say the first rule to avoid falling into a hacker's trap is to never give out passwords, pin and other personal details to anyone or any website. Never respond to emails that seek personal information. When you access your net-banking facility, check for security certificates. Change your password often.
When EMIs exceed your salary, it means trouble. Here's some help.
Regular investments in Section 80C instruments earn better returns as well as reduce the pressure on your funds. Instead, most of us end up in a last-minute scramble to invest to save tax in the month of February or even March. "This is why tax-saving products such as equity-linked saving schemes and unit-linked insurance product have the highest sales in the month of March," says Vikas Vasal, executive director, KPMG.
The four-day property exhibition, which concluded on Sunday, saw prospective home buyers returning 'disappointed'as they found the property prices 'unaffordable' and discounts 'meaningless'.The sales were down more than 60 per cent at the 13th Real Estate and Housing Finance exhibition, which was organised by the Maharashtra Chamber of Housing Industry.
It is mission damage control and ICICI Bank is pulling out all the stops. Weighed down by persistent rumours over its health, the bank's top management will meet senior employees on Monday to reassure them about their future.
The strategic portfolio should be tinkered with only once in two or three years. Ideally, the trading part should not be more than 5-10 per cent of your total portfolio.
Some banks decide not to roll over short-term loans; others will do it only at higher interest.
Gold exchange-traded funds are back in the limelight. After a dull three-month period, a sudden slump in the US stock market last week has investors flocking to buy gold. In the past one week alone, gold prices have increased nearly 15 per cent in the international market.
Bankers have suggested that the Reserve Bank of India lower the statutory liquidity ratio and the cash reserve ratio as the present liquidity crunch is affecting their business. During the mid-term resource management discussion with the RBI team led by Deputy Governor Rakesh Mohan, the country's top bankers said the tight liquidity condition was pushing up the cost of funds and putting further pressure on margins.
The regulator wants to know if banks deploy the money to meet lending needs. Sources close to the development said that the central bank was checking if banks used the liquidity adjustment facility (LAF) for raising resources to meet short-term lending needs or pay off high-cost bulk deposits. Bankers said the central bank might be worried that the steps taken by it so far had not eased the liquidity situation and that call rates remained high.
A senior SBI official said bank branches and controlling offices face a piquant situation where the top management expects prompt action, including filing of a first information report, while the local police is reluctant to register complaints often due to political pressure. Of late, investigative agencies have raised concerns over the large circulation of counterfeit notes.
There is no mechanism to ensure that the customer gets his money back and nor are there any guidelines or rules to protect the customer from this problem
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