Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
The new category would also help NBFCs raise more money from overseas markets, for which the government has raised the cap to $500 million from earlier $100 million under the approval route.
Only double-income households can buy flats in India's top 8 cities, except Mumbai
Seeks parity between HFCs and Banks on CAR requirement, hike in limit of interest on home loan for personal use and increased deduction of principal repayment of home loans
The teaser home loan rate, the interest rate which is set artificially low for the initial period, could give a 'payment shock' to borrowers as the equated monthly installment (EMI) shot up on lenders charging regular interest rates, according to Fitch officials.
Rediff readers tell us what their first salaries were.
It is not clear whether the drop in offers is a fallout of demonetisation.
Canara Bank Ltds Canbank Financial Services Ltd plans to discontinue non-banking finance company activities.
Given its focus on the real estate sector, financial planners feel this scheme is not meant for first-time investors and any investor should only have 5 to 10 per cent exposure to this fund.
One man's passion about an environment friendly mode of transport has got the humble bicycle competing with the automobiles.
As the trading opened for the first day after long Eid break, shares in the debt ridden Dubai World conglomerate, of which Nakheel forms a part dropped more than 15 per cent.
The World Bank and India have concluded negotiations for loans worth $3.2 billion for recapitalising state-run banks and funding for the India Infrastructure Finance Company Ltd, a state-run lender to infrastructure projects.
Housing finance companies (HFCs), which rely heavily on banks for funds, have said that loans taken by them should be exempted from the proposed base rate system.
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
The country's biggest carmaker is now more valuable than the combined market cap of the three leading automobile companies in the country: Tata Motors (Rs 1,18,684 crore), M&M (Rs 86,336 crore) and Ashok Leyland (Rs 34,700 crore).
Banking and finance companies, whose dismal performance in late 2008 caused panic among students and faculty members of the premier Indian Institutes of Management, are making up this year with better profiles and stipends.
Market players say the government is likely to attempt, at least, one big-ticket sale this month.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
McKinsey, RBS postpone placements by three to six months
A total of 635 companies have declared their third-quarter results and reported 22 per cent rise in revenue and 47.3 per cent growth in net profit on an average.
The Supreme Court on Monday quashed JM Financial chairman Nimesh Kampani's petition on Nagarjuna Finance fraud case paving the way for his arrest.
In addition, the finance ministry will present a report on steps taken to step up flow of resources to SMEs, textiles, gems and jewellery and rupee and foreign currency resources to exporters.
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
Putin's visit comes at a time when Russia's economy is stalling as oil prices tumble
The Hindujas have taken off the veil over their mid-sized Amas Bank in Switzerland by renaming it as "Hinduja Bank", in what its chief executive described as a bold move to expand its activities in trade finance, wealth management and investment banking.
According to the report, financial assets of the Indian households are predominantly in the form of bank deposits, followed by life insurance - a pattern that got disrupted after note ban
The government and Reserve Bank of India are working on opening a massive Rs 75,000 crore refinance window to provide concessional funds for infrastructure, housing and small and medium enterprises by partly leveraging the country's foreign exchange reserves.
Housing finance companies step in to provide loan to customers turned away by banks.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Instead of prepaying your home loan before the term ends it's better to invest the amount you would save on prepaying the loan and earn good returns on investing the same.
In a possible precursor to further rate cuts, Finance Minister Pranab Mukherjee's meeting with public sector bank chiefs on Monday will review their benchmark prime lending rates and interest rates on loans for automobiles, homes, small and medium enterprises and non-banking finance companies.
HDFC has 28.71 crore shares, which would go up to 143.55 crore after the split.
The housing finance regulator National Housing Bank on Thursday said it was collecting information from housing finance companies about their exposure in group entities of the scam-tainted Satyam Computer Services.
More than 500 independent directors have resigned since January 1 this year.
Days before B Ramalinga Raju admitted to fraud, a handful of financial services companies, including DSP Merrill Lynch, IL&FS Financial Services and Deutsche Bank's non-banking finance company, sold Satyam Computer Services shares pledged with them.
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
The government is considering setting up a special purpose vehicle (SPV) for financing of non-banking finance companies (NBFCs) following the reluctance of banks and mutual funds to make available funds for the sector.
Red Fort Capital, an international real estate fund founded by GB Singh, Parry Singh and Subhash Bedi, has invested nearly Rs 2,000 crore (Rs 20 billion) in the Indian real estate sector and claims that it is one of the few funds to have invested even in the downturn.
The government's showcase Indian Infrastructure Finance Company Ltd has run into trouble with two leading global banks - Standard Chartered Bank and Calyon Credit Agricole - suggesting that they may not fulfil collective contractual funding commitments of $250 million
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances