The Reserve Bank has paved the path for increasing the liquidity for banks, enabling several positive steps in the real estate sector.
The country's largest lender, SBI, has reduced marginal cost of funds based lending rate by 0.9 per cent from 8.90 per cent to 8 per cent for one-year tenure, the bank said in a statement.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
Housing demand has breached pre-COVID levels with 92 per cent year-on-year growth in sales during July-September period units across eight major cities, mainly on the back of stable prices, very low mortgage rates, property consultant Knight Frank India said on Monday. Releasing its India Real Estate Update for Q3 (July-September quarter) of the 2021 calendar year, the consultant reported that housing sales increased to 64,010 units from 33,404 units in the same period last year. In the previous April-June quarter, 27,453 residential units were sold. "The total residential sales of the top eight markets under review during Q3 2021, reached 104 per cent of 2019 quarterly average," the consultant said, adding that sales have breached pre-COVID levels.
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.
As it firms up its telecom re-entry strategy, Reliance Industries subsidiary Infotel Broadband has told telecom tower companies that it will pay only half the prevailing rental for towers taken on lease.
It brought more drugs under control, cracked foreign firms' patents and introduced new regulations when MNCs acquire Indian cos.
Budget airline SpiceJet has launched the best offer this summer.
Asserting that the situation in Kuwait was "absolutely normal" despite the ongoing US-led war in Iraq, civil aviation secretary K Roy Paul hinted on Wednesday a reduction in fares of flights from and to India
With palm oil having 55 per cent share in total edible oil imports, the National Mission on Edible Oil-Oil Palm (NMEO-OP) would ensure that farmers get all facilities, from quality seeds to technology to promote cultivation of palm and other oil seeds, he said. Modi made this announcement after virtually releasing the ninth installment of Rs 19,500 crore to 9.75 crore beneficiary farmers under the government's flagship scheme PM-KISAN.
The government is actively considering bringing 355 life saving drugs under price control and take a few additional measures to help the poor and below poverty line (BPL) families, once the Union Cabinet approves National Pharmaceutical Policy.
"Throughout our history we've learned this lesson -- when dictators do not pay a price for their aggression, they cause more chaos. They keep moving. And, the costs and threats to America and the world keep rising," Biden said addressing the joint session of the Congress in his first State of the Union.
These are untied loans, meaning SBI has freedom to use this money to lend. They also do not come with any conditions attached for lending to specific projects or programmes.
Travel companies are expecting a heavy rush to the US following the withdrawal of curbs on fully vaccinated travellers from select countries, including India, on November 8. The move will benefit those holding long-term tourist, business, and work visas. Also, new and extra flights by Air India and American Airlines are expected to provide better travel options.
A new satellite, which the space agency plans to launch in the next three years, will be able to provide a direct satellite communication link to mobile phone handsets --a technology that will work on the lines of the direct-to-home technology.
The medicines whose prices have been reduced belong to therapeutic categories, like dexametozone, betamethazone, ampicillin and ranitidine. The prices of some multi-vitamins and antibiotics would rise a bit.
The National Pharmaceutical Pricing Authority, which regulates the prices of medicines, has identified around 70 anti-cancer drugs, including anti-breast cancer medication Letrozole and anti-blood cancer drug Imatinib, for detailed price analysis.
There is a prospect of a 5-10 per cent drop in fares.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
If international crude oil prices zoom past the current level of about $90 per barrel and move towards $100 and beyond, middle-class consumers are not going to keep quiet about their discomfort, points out Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
If the United States has its way in the World Trade Organisation, Indians may soon be able to savour the famed Californian wine for a much lesser price.
A free and open aviation market, where the government keeps the interest of consumers higher than saving any airline.
The government also withdrew the five per cent VAT on compressed natural gas besides bringing back the VAT for tea, coffee and cocoa to five per cent from the proposed 12.5 per cent.
"The initial supply price of Covishield for all government immunization programme, including India, has been the lowest", SII said.
With the launch of Tata AirAsia and Tata-SIA, the added capacity will bring down fares considerably, say observers.
The country's largest lender, SBI on Tuesday said it has cut savings rate by 25 basis points, or 0.25 per cent, to 2.75 per cent on all deposits. The new rate will come into effect from April 15, 2020.
Global rating agency Fitch on Tuesday said the imminent entry of Reliance Jio into the telecom space will see a likely 20 per cent fall in data tariffs, but will not have any impact on the credit profile of the top four incumbents in the medium term as their revenue is on an uptick on rising voice tariffs and improving regulatory environment.
On the itinerary: Luxury camping, tribal homestays, heritage cities.
As fear grips the world, demand for protective gear used by health care professionals and citizens is on a rise. And, supply disruption from China has opened a window of opportunities for Indian medical device makers.
The political row had erupted after the National Democratic Alliance government inked the Rs 59,000-crore deal on September 23, 2016 to procure 36 Rafale jets from French aerospace major Dassault Aviation after a nearly seven-year exercise to procure 126 Medium Multi-Role Combat Aircraft for the Indian Air Force did not fructify during the Congress-led United Progressive Alliance regime.
The total premium income for the industry from the motor portfolio is around Rs 8,000 crore, and private vehicles account for about 65 per cent of the market.
The cut reflects changes in global prices of the two fuels since the last revision.
The current crisis has forced the government to announce measures to ensure that India becomes self-sustaining for any kind of bulk drug. The government says India will not depend on any other country for vital key ingredients for drugs within six years, reports Sheela Bhatt.
It takes a while to get used to the constant and instant supply of power that is the case with EVs, and handling the S1 Pro when it takes a corner or makes a turn can be tricky, says Pavan Lall.
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