The key to understanding your loan offers from multiple banks is to calculate the total amount of interest and fees you would pay for each offer and zero in on the offer that gives you the least total interest outflow.
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.
Fiscal pressure for the Indian economy is gradually rising, suggested analysts at Jefferies in a recent note, as oil prices (Brent) - which are close to the $100 a barrel mark - continue to climb ahead of a busy election calendar. They added that the sharp rally in the equity markets during the last few months has made valuations costly. As a result, Jefferies expects the Indian markets to remain choppy in the near term.
Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, the largest private-sector lender of the country, has just completed his first term. The period October 2020-October 2023 was a roller coaster, and the second one, which started on October 27, could be more interesting as the lender absorbs the impact of the merger of HDFC, which was integrated on July 1, and moves to the next growth phase. Soon after he took over the reins from Aditya Puri on October 27, 2020, the Reserve Bank of India (RBI) debarred HDFC Bank from enrolling new credit card customers and launching new products under the Digital 2.0 programme due to repeated outages on its mobile-banking and internet-banking platforms.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
The merged entity's deposits grew by 16.2 per cent YoY at Rs 20.63 trillion at the end of the first quarter. Sequentially, the merged entity's advances rose by about 0.7 per cent to Rs 22.30 trillion as of March 31, 2023. However, the pace of deposit mobilisation was higher at 1.2 per cent over Rs 20.39 trillion as of March 31, 2023.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
Now, banks stop giving in-principle loan sanctions on central bank directive.
The Reserve Bank India's (RBI's) decision to ban the onboarding of new accounts on the "bob World" mobile digital platform led to a selloff in the Bank of Baroda (BoB) stock. The stock of the public sector bank dropped by around 3 per cent. The central bank cited "material supervisory concerns"; news reports claimed mobile numbers were randomly linked to accounts to purportedly inflate registrations on bob World.
HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
Section 19(4) of the RERA Act entitles allottees to a refund if the developer doesn't comply with the terms of the sale agreement.
Look at the sanctioned plan to know the exact carpet area you will get and pay a law firm to conduct a thorough title check.
Home loan protection insurance is the perfect tool to protect your family against home loan liability and subsequent default.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
The country's most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this - the diminishing premium of HDFC Bank's American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium has shrunk to below 5 per cent, down from over 30 per cent in March 2021, and even lower than recent levels.
While most households take a long-term loan, they are keen to de-leverage and pay off the loan before the completion of the term.
Finance Minister Pranab Mukherjee on Friday extended by a year the one per cent interest subvention scheme for housing sector and provided Rs 700 crore (Rs 7 billion) for it in the budget for 2010-11.
Missing the deadline for filing Income Tax returns can lead to consequences.
It's important you keep the following points in mind as you set out to have your name plate on the wall.
With an eye on the coming festive season, leading public sector bank State Bank of India will provide home loans to its customers at concessional interest rates. SBI chief general manager (CGM) Umesh Kumar Pandey informed that this drive to provide home loans at concessional interest rates will be completed in two phases, an official release said on Thursday. The first phase will be operated from September 1 to October 31, while the second phase will be operational from November 1 to December 31, it said.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Understand the finer points before signing on the dotted line as a guarantor
Do you want to know if your investment in a house, mutual fund, insurance or real estate taxable? How is tax calculated on your ESOPs?
The regulator permitted banks to extend loans against long-term infrastructure bonds.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
FM has asked RBI and bankers to take a call on reducing home loan rates on popular demand.
Markets would be keenly looking for fiscal deficit & subsidy figures and borrowing and divestment program.
The housing inventory overhang in the top seven cities in India stood at a five-year low of 20 months at the end of the January-March quarter, data from real estate consultancy Anarock showed on Monday. It was the highest at 55 months in the quarter ending December 2020. The inventory overhang is the amount of time it would take to sell the current housing listings in an area. A lower overhang denotes higher demand in a particular area.
Mortgage lender HDFC on Wednesday said it has approved the highest ever retail home loans of over Rs 2 lakh crore in 2021-22. The demand for these loans was from across the country, HDFC said in a statement. HDFC managing director Renu Sud Karnad said, "In over four and half decades, I have not seen a better time for the housing sector than now due to lower interest rates, stable property prices, government's thrust on affordable housing, improved affordability, favourable demographics, increasing urbanisation and rising aspirations." The residential real estate segment will continue to see strong traction going forward, as the demand for housing is not just pent up demand but is a structural one, she said.
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.
If you thought the loan documents were just a formality, think again. It is a contract skewed towards the lenders through various clauses buried in the fine print. We help you dig them out
If only you had thought ahead, you would have stocked snacks and biscuits, bread and cake, and vegetables suited for Amma or pondatti to make your favourite bajji and pakoda, observes N Sathiya Moorthy.
If you are not alert about these pitfalls, it could cost you serious money.
The Punjab National bank on Friday announced 0.25 per cent cut on interest rates for home and car loans, effective from Saturday, September 23.\n
'Negotiate a longer agreement with the escalation clause fixed now.' 'This will enable you to control future cost increases.'
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