The Credit Information Bureau (India) Limited (CIBIL)can now generate a copy of your credit history and payment default reports at the click of a mouse. Borrowers will now have to tidy up their payment history.
You can mortgage gold with any bank, with the minimum of paperwork and walk out with the money almost immediately. Some banks claim to process gold loans in three minutes, while most banks hand you the money within an hour!
As the global economy limps into 2009, barometers for the real estate industry are bleak.
There are no easy answers to this crisis. But governments should consider whether they ought to become the insurer of last resort.
US government on late Sunday announced plans to remove billions of dollars of 'toxic assets' from the balance sheet of crisis-ridden banking giant Citigroup
'Down payment', simply put, is the difference between the purchase price of a property and the mortgage loan amount. It underlines the buyer's commitment to complete the deal and indicates the buyer's fidelity in making the loan payments.
The employees also cite Prasar Bharati CEO B S Lalli's plans for mortgaging the public broadcaster's assets with banks for raising funds from the market as another reason behind their agitation. During the strike, the employees would not perform activities like maintenance, servicing, logging and scripting that could affect the functioning of various television and radio stations across the country.
He paid nearly Rs 34 crore for the stake.
State Bank of India's decision to freeze home loan interest rates at 8 per cent for a year has stirred a controversy with the country's largest mortgage player HDFC on Tuesday terming the move as a 'gimmick'. SBI executives retorted by saying that the package was not a 'teaser rate', as HDFC chairman Deepak Parekh described the move.
The Indian Cricket League is contemplating legal action against the International Cricket Council if the world body does not take up its application seeking 'official status' by next week. ICL's counsel Jeremy Roberts said his clients are mulling various options if the ICC does not take up the matter soon.
A first-hand account of how global banks got into the mess they're in.
The effective nationalization of Freddie Mac and Fannie Mae gives big Asian investors the guarantee they're looking for
Financial conglomerates neither have group-wide oversight mechanisms nor do they follow enterprise-wide risk management practices, according to the findings of a monitoring exercise by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority (Irda).
Finance enthusiasts are like gun advocates who say that 'guns don't kill people, people kill people'.
The latest rate cut has not yet trickled down to consumers.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
Despite the sub-prime mortgage crisis taking hold in industrialized nations, the overall global economy was still growing in 2007, a new United Nations report says.
The Index of Industrial Production (IIP), GDP figures, current account data, foreign direct investment and exports-imports data are very dismal. They do not show the extraordinary 9 per cent growth, says Amreek Singh Sandhu, CFO, Gati Ltd.
The bank, which had announced a similar cut in January, will see its mortgage prime rate fall to 13.75 per cent from April 1. In a statement, the bank said that the benefit will be available to all its existing customers on floating rate loans. A bank spokesperson said that, depending on loan tenure and amount as well as the customer's relationship with the bank, he could get a loan at up to 50 basis points lower than the benchmark rate.
IndusInd Bank MD & CEO Romesh Sobti said that, during the fourth quarter, the private sector lender was expecting a 20 per cent growth in its loan book. "There are still a lot of good companies, and you don't write off everyone. There is nothing like zero-risk. It is low-, medium- and high-risk, and you avoid high-risk though they give you high returns," Sobti said after announcing the inauguration of new-look branches aimed at attracting more high networth customers.
Leading mortgage financier LIC Housing Finance on Monday cut its home loan rates by 75 basis points for existing customers effective from April 1.
As a General Electric employee working in business development in New Delhi, Dhruv Bhatia knew something about finance.
It seems that the global financial crisis has been finally brought to book.
The sole economic superpower does not want to dethrone the dollar, or for that matter practise Third World economics.
The two had signed an operating agreement for cross-selling each other's products recently.
The offer values HBOS at 12.2 billion pound, which is based on Lloyds TSB's closing price on September 17, 279.75 pence, Lloyds said. Under the terms of acquisition, HBOS shareholders would receive 0.83 Lloyds TSB shares for every one HBOS share.
Vikram Pandit pledged to simplify Citigroup's organisation and reshape its businesses according to "economic realities" after being named chief executive of the bank.
Paving the way for domestic asset management companies (AMCs) to invest directly in real estate, the Securities & Exchange Board of India (Sebi) today unveiled the much-awaited guidelines for real estate mutual funds (REMFs), which mandated that at least 35 per cent of the corpus of a scheme be invested directly in real estate assets.
'Rate cut should reiterate RBI's commitment in providing confidence to consumers and small business.'
The battle in the home-loan market was sparked by the country's largest lender, State Bank of India (SBI), which announced a competitive package early this month.
The Bombay Stock Exchange benchmark Sensex sank by 951 points on black Monday on panic selling by funds, triggered by weak global cues.
Trading across global markets remained volatile on Thursday, and the nerves of investors were tested by dollar weakness and continued worries about the deteriorating health of the financial system.
'Two esteemed foreign investors with huge funds are coming with us in our real estate and city development businesses.'
Starting April 1, a non-executive director of 75 years or more can be appointed or re-appointed only by way of a special resolution, which requires 75 per cent 'for' votes.
Firms are flooded with credit crisis-related litigation jobs from American law companies.
Penetrating under-banked segments may have a fallout like the US sub-prime crisis.
There is no getting away from higher equated monthly installments. The country's second largest commercial bank ICICI Bank and the largest mortgage player HDFC have decided to increase the lending rates.
If you want to stay on with your current employer, consider asking your boss for reduced hours, less responsibility or cyclical work that would still bring in some money but give you more flexibility, a sort of virtual retirement.
