Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
To ensure the property right is not contested, one has to take various steps, including getting a bank NoC.
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
Retirement fund manager EPFO has decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribes-for-loans scam.
Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
Canara Bank on Wednesday announced 0.5-0.75 per cent cut in housing loans rates to 8.5-9.25 per cent with monthly installment payments coming down to Rs 911 per lakh for 20-year loan from February.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
The Government today said it has not directed public sector banks to cut exposure in real estate following the housing-finance bribery scam. "No why should we say this," Financial Services Secretary R Gopalan told reporters when asked if the government has given such directions to the state-run banks.
Close on the heels of public sector banks slashing their home loan rates, LIC Housing Finance, has announced a 1.75-2.25 per cent cut in its lending rates for home loans up to to Rs 20 lakh (Rs 2 million) from December 17.
Discrimination between old and new customers have come down after base rate.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The liquidity crisis at Dewan Housing Finance Corporation Limited (DHFL) has dented the fortunes of ace investor Rakesh Jhunjhunwala, who increased his stake in the troubled company in the March 2019 quarter (Q4FY19).
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
Investing in such properties is high-risk proposition, as developers do not have requisite approvals. At a later stage, projects can be delayed or even shelved for lack of funds.
With public sector banks reducing interest rates on home loans up to Rs 20 lakh (Rs 2 million), housing finance companies (HFCs) might be under pressure to follow suit in order to stay competitive.
Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
"Our target is to disburse at least Rs 2,000 crore this year. Retail business constitutes 94 per cent of our business. Our total disbursal last year was Rs 7,100 crore and we plan to grow by 40 per cent this year," says LIC Housing Finance's new CEO and director, R R Nair.
Nine days after their arrest in a cross-country housing loan scam, a special CBI court on Friday granted bail to all the eight accused, including LIC Housing Finance CEO Ramchandran Nair, after observing that their custody is not required further.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
At a time Life Insurance Corporation (LIC) is under the scanner due to the alleged bribe-for-loan scam at its housing finance arm, the mutual fund company of the corporation has been continuously losing business. Its assets have dipped substantially this year. As the mutual fund industry faces redemption pressure, LIC Mutual Fund, a state-owned fund house, has performed worse than the industry so far in the current financial year.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Listed housing finance companies (HFCs), as a group, posted a 3.7 per cent drop in second-quarter (Q2) profit year-on-year (YoY) to Rs 5,830 crore and 19 per cent sequentially on rise in interest expenses and uptick in provisions and write-offs. Operating income rose 13.7 per cent YoY to Rs 54,086 crore in Q2 of 2022-23 (FY23). Sequentially, income was up 62.3 per cent, from Rs 33,331 crore in the first quarter (Q1) of 2021-22 (FY22).
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The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
CBI officials, however, said no such evidence had so far been found. CBI, on receiving a tipoff from its sources, found that a private financial services company, its chairman and managing director, and other associates were allegedly bribing senior officials of public sector banks and financial institutions for facilitating largescale corporate loans.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
Say cost of funds too high to lower lending rates.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
LIC is also working on a new model to scan loan applications.
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."
This year's tally is the second best ever after 2022 when 16 firms raised Rs 40,311 crore, led by LIC's biggest-ever IPO.
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