The foreign bank had earlier pared its holding in the housing finance company from 11.4 per cent to 9.9 per cent.
The National Investigation Agency has arrested two close aides of gangster Chhota Shakeel for allegedly handling the illegal activities and financial transactions of the crime syndicate controlled by fugitive underworld don Dawood Ibrahim, and for indulging in terror financing in the western suburbs of Mumbai, an official said on Friday.
The Reserve Bank of India (RBI) on Friday said it will maintain comfortable liquidity conditions and conduct market operations in the form of outright and special open market operations. It will conduct on tap targeted long-term repo operations (TLTRO) with tenors of up to three years for a total amount of up to Rs 1 lakh crore at a floating rate linked to the policy repo rate.
Piramal Enterprises' bid for debt-ridden DHFL received the most votes from lenders at the close of the voting process on Friday, sources said. Piramal Enterprises' bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital. Voting was done on various parameters, including qualitative and quantitative.
In August, the Reserve Bank of India Governor Shaktikanta Das held a meeting with chief executive officers/ managing directors (CEOs/ MDs) of large non-banking financial corporations (NBFCs). The discussions included diversifying borrowing sources for NBFCs and housing finance companies (HFCs) to contain increasing reliance on bank borrowing, risks associated with high credit growth in retail segment in unsecured loans, prioritising IT upgrades and cyber-security, improving provisioning, monitoring of stressed exposures and slippages, ensuring robust liquidity and asset-liability management, ensuring transparency in pricing, creating robust grievance redress mechanisms.
With an existing consumer base of 400 million across airports, electricity and gas distribution businesses, the Adani group is revving up its retail play. It is planning to use the 2.4 billion consumer interactions a year with group companies to push various products and services. The group has already launched the 'Adani One' super app that will eventually sell products across the spectrum, top executives said.
The one common theme across companies that have rewarded shareholders is consumption.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
These decisions by NHB will come into effect immediately and will cover all housing finance companies including LIC housing finance.
Manappuram declared consolidated assets under management (AUM) growth of 27 per cent year-on-year (Y-o-Y) (5.1 per cent quarter-on-quarter or Q-o-Q) to Rs 38,950 crore. Net interest income (NII) saw a margin expansion of 24 basis points (bps) Q-o-Q to 15.44 per cent.
Equity benchmark Sensex surged over 1,300 points on Monday to reclaim the 60,000-level, boosted by intense buying in banking and financial stocks after the announcement of merger between HDFC and HDFC Bank. Strong global cues and receding crude oil prices also propped up the domestic equity markets, according to traders. Shares of HDFC and HDFC Bank rallied nearly 10 per cent as investors lapped up the merger deal.
Banks are not allowed to lend to developers for purchasing land parcels.
Loans up to Rs 20 million to companies involved in farming and allied activities will be treated as lending for direct agriculture under priority sector lending status.
Under the co-lending model, banks have to take their share of the individual loans on a back-to-back basis on their books while NBFCs are required to retain a minimum of 20 per cent share of the individual loans on their books.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The first wave of COVID-19 last year impacted households as their financial savings moderated to 8.2 per cent of GDP in December quarter from 10.4 per cent in the previous three-month period, revealed an RBI data released on Wednesday. The preliminary estimate of household financial savings is placed at 8.2 per cent of GDP in October-December 2020-21, exhibiting a sequential moderation for the second consecutive quarter after having spiked in the pandemic-hit June quarter, RBI said in a release. "The moderation was driven by a significant weakening in the flow of household financial assets, which more than offset the moderation in the flow of household financial liabilities," it said.
This will ensure that should a critical illness (such as stroke, organ failure, heart ailment, etc.) strike you affecting your earning capability than you at least dont have to bother about your home loan liability, says personal finance expert Harsh Roongta.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
Many life insurance companies are yet to see a sharp spike in the sale of high-value policies as was widely expected in the aftermath of the government's decision to tax income from insurance policies having an aggregate premium above Rs 5 lakh in a year.
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.
After the NHB asked housing finance cos to desist from offering interest subvention schemes, disbursement of loans are likely to get delayed, points out Tinesh Bhasin.
As PM talks of lower lending rates, housing companies prepare to cash in.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
Ramalingam Kalirajan dives into the specifics of NPS withdrawal rules to help you understand the conditions under which and when partial withdrawals are allowed.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
Stocks of smallcap and midcap companies, which had caught the fancy of retail investors, also feature in the portfolio of leading politicians in addition to bluechip stocks.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
International Finance Corporation will put in $200 million and HDFC will contribute $600 million to create $800-mn corpus for affordable homes
HDFC will use the proceeds of the issue to pump capital into its insurance venture, HDFC Standard Life Insurance Company Limited, maintain its majority stake in HDFC Bank and also support the mortgage business.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
HDFC has 28.71 crore shares, which would go up to 143.55 crore after the split.
'My trajectory right now is five steps forward, two steps backwards.'
The initial public offering (IPO) market has seen some momentum of late with robust responses to recent issues. However, only some have been able to ride the wave. So far in 2023, 23 companies have let their approval granted by the markets regulator - the Securities and Exchange Board of India (Sebi) - lapse.
Using the Mahabharat reference as a leitmotif, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday claimed that an atmosphere of fear prevails all around with a group of six trapping the entire country in a 'chakravyuh' he promised would be broken by the INDIA bloc.
Larsen & Toubro Ltd said on Tuesday the country's leading housing finance company Housing Development Finance Corporation and HDFC India Real Estate Fund will acquire a 25 per cent stake in L&T Urban Infrastructure Ltd.
Say cost of funds too high to lower lending rates.
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.
Housing Development Finance Corporation said on Wednesday the interest rates on home loans will not go up till March 2005, subject to developments in the financial markets.
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