The much awaited Credit Information Bureau (India) Ltd was launched on Wednesday with a database of 55 consumer credit records which would help creditors to evaluate risks, reduce incidence of defaults and non-performing assets.
The scrip of Infrastructure Development Finance Company Ltd, which listed on the National Stock Exchange on Friday, opened at Rs 60 per share, at substantial premium to issue price of Rs 34.
'The entire government-owned banking system (excluding SBI) is now in the red.' 'But worse is to come,' warns T N Ninan.
Five Star Business Finance is in the business of providing loans to MSME entrepreneurs. Gireesh Babu finds out more about the company that plans to grow to 3,000 crore by 2020.
'Research shows that customers want their loans instantly.' 'So the team asked can we reduce the time for approval from 5 days to 30 seconds?' 'It took the company two years of hard work to tear apart our operations and processes and rebuild them through fresh ideas and by leveraging technology.' 'We reduced the time of loan approval to 3 hours and another year to get it down to 30 seconds,' Sanjiv Bajaj tells Surajeet Das Gupta.
United States-based cab company Uber was on Monday booked for cheating by the Delhi Police in connection with the alleged rape of a 27-year-old finance company executive in its cab by the driver on Friday night in New Delhi.
India's leading housing finance company HDFC on Monday said that it would offer special rates to developers selling on carpet area basis instead of super built-up area.
Cholamandalam Distribution Services Ltd on Wednesday said it has entered into a tie-up with UTI Investor Services Ltd to process IT PAN number applications in the country.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
Kotak Mahindra Bank is aiming to mop up Rs 500 crore (Rs 5 billion) through its private equity fund, which will invest primarily in unlisted companies, and another Rs 450-500 crore from the real estate venture fund.
FMO, the Netherlands-based development finance company plans to invest over euro 100 million by the end of 2003, atop company official said on Monday.
Here are a few guidelines on how to select a housing finance company.
The interest rates on housing loans are expected to go up by 25 to 50 basis points in the coming months but it would not affect demand from retail borrowers, an industry official said on Monday.
'It is almost four years since we've seen strong growth in earnings.' 'The markets have rallied about 20 per cent in the past year, which is ahead of earnings.' 'So, the stress now will be on earnings to catch up.'
Stepped up public expenditure must be accompanied by focused policies, advises Vinayak Chatterjee.
This is probably the best time for consumers to take a home loan. Interest rates have hit rock bottom and fierce competition among housing finance companies has ensured that consumers are being offered loans at very attractive rates.
Also build a contingency fund equal to 9 to 12 months of expenses.
If you can handle risks and are willing to go the extra mile to benefit from any further fall in interest rates, floating rate home loans will be best suited for you.
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