GE Money and international mortgage player Wizard announced on Thursday a joint venture 'Wizard Home Loans' that will offer 9.99 per cent interest rate on home loans to consumers. The prevailing market rate for is between 11 per cent and 12 per cent.
Speaking to reporters on the sidelines of a CII meet in Kolkata on Monday, ICICI Bank MD and CEO K V Kamath said the light engineering and transportation sectors had already been hit following a slump in sales of commercial vehicles.
Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
Sectors that are insulated from the sub-prime mortgage crisis unfolding in the US are the heavyweights in Indian stock indices. In comparison, sectors like information technology and pharmaceuticals, which depend a lot on the US market, carry less we
Reduces PLR by 25 bps to 13.75% for existing borrowers.
Remember to take important documents like no dues certificate.
Iqbal Singh has been appointed as the new CEO and President of GE Money India. The company is also planning to induct a strategic partner in a few months.
The liquidity crunch in global markets following the crisis in the US sub-prime mortgage business has prompted Jet Airways to postpone its $ 400 million rights issue to finance the airline's aircraft acquisition by two or three months.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
The central bank has said certain critical elements need to be addressed to avoid risks of financial imbalances and recurrence of inflation.
US Technology Resources is looking for Process Associates and Team Leaders.
The developments will facilitate a restoration of the markets closer to their fundamental valuations.
In terms of no-cost software, there will be some innovative products on offer, from RSS Bandit to File Shredder.
Kotak announced a 0.15 per cent cut in base rate to 9.85 per cent.
Rising domestic demand, more diversification in exports, and a looser monetary policy give Asia some armor against what causes pain in the U.S.
Claiming that the sub-prime crisis in the mortgage market has not affected the bank, Standard Chartered Bank chairman Mervyn Davies said the crisis was not yet over and it would take few months to tide over. "Sub-prime crisis has been a real shock, though Asian markets like China and India have remained unaffected. It is not yet over and it may take few more months before the crisis is over," said Davies, who is in India to attend the bank's board meeting.
A US resident has advertised to sell land in that country to Indians here. In the process, the seller may have started a trend of US owners turning to overseas buyers as local demand for housing dries up following the serial bankruptcies from the sub-prime mortgage, or high-risk home loan, crisis.
Do you feel cheated when your bank reduces floating home loan rates for new borrowers without thinking much about the existing ones? What should you do then? Is there any legal recourse that you can seek?
Continued volatility in Indian stock markets over the US subprime mortgage crisis all through August has led to a fall in assets of mutual funds in the country by over Rs 185 billion during the month.
If I could be born again, and I had a head for big numbers, I'd like to be an investment banker in New York. Look at what I would do for a living, says T N Ninan.
Indian equity markets have been very volatile off late. Can you still make money in stocks? Wealth management expert Sanjiv Mehta thinks so.
Why sub-prime mortgage in the US is lashing Indian stocks markets
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
Form Marketing Management is recruiting Sales Professionals for a local bank in the UAE.
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The tycoon had been allowed to use an office, phone, internet connection and three secretaries.
US Treasuries, another key indicator of market sentiment, also slipped sharply, with June 13 seeing the largest one-day fall since 2004, with the 10-year bond yield climbing above 5.25 per cent and breaking a long-term technical resistance.
No major deals above the value of USD 300 million happened last month, causing the decline from January, which registered deals worth USD 3.5 billion, according to a report released by consultancy firm EY on Wednesday.
Technology solutions provider to the financial services industry i-flex solutions on Wednesday said that First Magnus Federal Bank has become the first US retail bank to opt for its Flexcube for its complete banking platform.
The Senior Citizens' Savings Scheme 2004 offers 9 per cent rate of interest on deposits. But most banks offer 9 per cent or more interest rate these days.
Jim Walker of CLSA believes that the sub-prime mortgage markets will impact the US credit system. In his view, global equity markets will factor in more risks.
To determine the amount of coverage one should purchase, first add up all of your financial obligations, such as student loan, credit card debts and your mortgage balance.
Option One Mortgage is looking for Customer Service Executives for USA voice processes.
Here we can highlight two-way benefits on HRA (house rent allowance) along with home loans.
The announcement of the Federal Reserve sent markets to a tizzy
Meet the woman who constructs a toilet for self respect and dignity. M I Khan reports from Patna.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
