Prospective buyers must make a well-considered decision regarding whether this is the right time to buy a house, particularly with home loan rates at near-peak levels, and the risk of job losses looming in many sectors.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
Investmentyogi explains how borrowers can use the home loan refinance route to improve their financial management.
The average age of person/s having own residential homes has come down from 42 in 2000-01 to 31 years in 2006-07? Do you know how this has become possible. Tax sops on home loans is the biggest catalyst to begin with.
As the Union Budget 2025-2026 (FY26) inches closer, the Indian real estate industry is seeking stamp duty cuts, revised home loan limits and updated affordable housing norms through Pradhan Mantri Awas Yojna (PMAY), single-window clearance and eco-friendly policies, among others. Industry leaders and consultancy firms, including Anarock, Raheja, Gaurs, Kanodia Group, Reach, Urban Space, Justo and Eros Group, have shared their expectations.
The CBI has arrested Mani M. Sekhar in a Rs 8 crore bank fraud case from Indore after a nearly two-decade manhunt.
Special Ops 2 captures the spirit of the modern-day spy thriller and runs with it, observes Deepa Gahlot.
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
After banks, it's the turn of housing finance companies to have a more transparent regime for pricing of loans. The National Housing Bank (NHB), the regulator for these companies, is working on a system that is similar to the base rate regime introduced for banks recently.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Ishwak Singh's earnestness and the rustic energy of his mates keeps Mitti engaging, even when it starts to get preachy, observes Deepa Gahlot.
Home loan expert Harsh Roongta answers readers' home loan queries.
On his 200th birth anniversary, Utkarsh Mishra traces the life, thought, and legacy of Dadabhai Naoroji, the Grand Old Man of India.
SBI home loans are now cheaper by 0.50-1 per cent depending on loan maturities and amount of loan. The bank also gives discount if the salary account is with the SBI and further discount if a higher margin is available. The interest rates on new car loans and two-wheeler loans have been reduced by 1 per cent depending on the amount and maturity of loan.
Speaking at a function at Ghaziabad on Monday, State Bank Chairman-cum-Managing Director O P Bhatt said the bank has decided to raise the interest rate by 0.5 per cent on all loans such as home loans and auto loans which are linked to PLR. The revision in PLR came after SBI raised its PLR from 12.25 per cent to 12.75 per cent last week following Reserve Bank's increasing its key short-term lending rate to banks.
Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
All real estate developers may not be able to avail the benefit of Reserve Bank of India's one-time restructuring scheme as they might not meet the required financial ratios and have the necessary credit rating, HDFC vice chairman and CEO Keki Mistry said. He was speaking at a real estate and infrastructure investor summit organised by Naredco. "Restructuring may not necessarily help every developer because not too many will be able to meet the criteria laid down in terms of meeting the various ratios and getting credit ratings," Mistry said.
Do not sound as if you intend to permanently settle overseas, warns Ritika Gupta, CEO and counsellor at AAera Consultants.
Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit growth moderated, consequent to banks tightening the supply of credit to the unsecured segments, a report by TransUnion CIBIL said on Monday. Data shows that balance-level delinquencies, measured in terms of 90 days or more past due, in the credit card segment stood at 1.8 per cent in Q1FY25- highest among all other credit segments.
2006 has been the year of the winners. Almost all asset classes have performed well. CNBC Awaaz spoke to a mix of experts to understand what kept the market moving.
There can be as many as six co-applicants in a joint loan.
A mother and daughter in Punjab are accused of defrauding men by promising marriage and emigration to Canada. The mother allegedly used her daughter's photos and videos to lure victims, collecting large sums of money with false promises of a wedding and relocation.
rediffGURU T S Khurana answers readers' personal income tax queries.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
State Bank of India (SBI) on Wednesday reduced the processing fee on home and auto loans by 50 per cent to cash in on festive season demand.
Bankers see stable interest rates in near future but are worried about the spiralling global oil prices that is exerting pressure on domestic prices and exchange rate.
Housing Development Finance Corporation, India's largest mortgage financier, today increased its retail prime lending rate by 50 basis points to 14.25 per cent. This is the first time HDFC is increasing its PLR in two years.
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
While existing base rates and loans linked to it will continue, new loans will be linked to the MCLR, which is likely to be lower
Prime Minister Narendra Modi on Friday sounded the poll bugle in Bihar, where assembly elections are due this year, calling for 'an NDA government, once again', which would protect the state from the 'evil intentions' of the Rashtriya Janata Dal-Congress combine.
The new rates vary from 8.80 to 9.05 per cent on various slabs of loans.
Harsh Gupta's first JEE attempt was plagued by ill-health. But he did not give up.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Wouldn't it be better to reach 45 with a backup engine of passive income that helps you glide through these years instead of grinding, asks Ramalingam Kalirajan
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