As the RBI Monetary Policy Committee meets on February 7-8 for next bi-monthly credit policy, Assocham has impressed upon the central bank and the Finance Ministry "to ensure adequate transmission of cuts in the interest rates".
According to the global financial services major, there is room for an accommodative policy stance by RBI next week, although the scope for further rate cuts is unlikely given global price developments.
Total demand for gold -- whose twin drivers are jewellery and investment buying -- advanced 2 per cent to 4,309 tonnes compared with 2015, London-based industry body WGC said in a report.
With large allocations for agriculture, rural road infrastructure, skill development and electrification schemes, this Budget has the potential to change the face of â€˜Bharat‘ â€“ the India beyond our cities, say Pawan Munjal, Chairman, CEO & Managing Director, Hero Motocorp.
According to global financial services major Citigroup, the RBI's timing remains uncertain, but the possibility of a 25 bps rate cut is high in the near-term.
The Fed said in a statement ending its latest policy meeting today that the job market has continued to strengthen, inflation has climbed closer to its 2 percent target and economic activity remains steady.
The real estate sector has largely welcomed the various measures that finance minister Arun Jaitley announced in his Union Budget 2017-18 presentation on February 1, 2017. “We must appreciate the fact that the government R
Prime minister Narendra Modi, on the eve of new year, had announced an interest rate subsidy scheme on home loans. It is expected that this move, will provide a huge boost to the realty R
Disha Kansara Chawla Senior executive search professional, Mumbai Many average Indians now own two houses – one to live in and one through which they earn retirement benefits. It is very difficult to buy R
The year 2017 has begun on a good note for home loan borrowers, with significant cuts in interest rates being announced by most banks. Experts point out that the reduction in the interest rates, R
There has not been any precedence of major interest rate cuts, ahead of the union budget‘s presentation. On the contrary, major financial policy decisions are put on hold or deferred, ahead of the budget. R
Many home buyers favour taking loans from housing finance companies (HFCs) as stamp duty and registration costs are included while calculating the total costs of the property as compared to only basic property rates for banks.
"The good news for businesses is that interest rates are being cut across the board led by Reserve Bank of India," said Japnit Singh, Deputy Chief Executive at the Singapore- headquartered Spire Research and Consultancy.
The country's current account deficit has shaped up because of "prudent" fiscal management and the economy has been growing in the past decade despite 2008 global financial crisis, he said.
Basis of home loan interest rates charged by housing finance companies Housing finance companies (HFCs) are regulated by the National Housing Bank Limited (NHB), a subsidiary of the RBI. The funding of housing finance R
Genuine buyers in the residential real estate market, appear to be holding back their purchase plans, on hopes that the interest rates would fall further and the property prices would plunge, post demonetisation, which R
The high interest rate of over 7 per cent because of competition is unsustainable, Fino Paytech has said, stating clearly that it will not join the interest rate war for customer acquisition but focus on profitability once it launches its payments bank.
For home loan up to Rs 75 lakh, rate has been reduced to 8.75 percent from 9.10 percent earlier. Women borrowers will get loans 0.5 percent lower rate at 8.70 percent, the company said in a release here.
The company will utilise these proceeds for refinancing its high cost external commercial borrowings (ECBs) to achieve its objective of reducing high cost debt and improving its debt maturity profile, APSEZ said in a statement.
Customers with a good loan repayment track record and strong financials may get loans which are at least 50-75 basis points cheaper than a customer with a bad credit score.
"For us, in India, good policy housekeeping should be the cornerstone. It is easy and quick to fritter away gains regarding macroeconomic stability. But hard and slow to regain them," he said at Vibrant Gujarat Global Summit here.
The state-run Bank of Baroda (BoB) reduced its home loan rates by 70 basis points to 8.35% – the lowest across the industry and will be applicable for customers having a strong CIBIL score. R
Boston Fed President Eric Rosengren on Monday called for the U.S. central bank to step up its pace of interest-rate increases from the once-a-year pattern it has pursued since 2015, warning of inflation risks if it does not.
U.S. employment increased less than expected in December but a rebound in wages pointed to sustained labor market momentum that sets up the economy for stronger growth and further interest rate increases from the Federal Reserve this year.
In a move that will help bring down the cost of home, auto and other loans linked to the marginal cost of funds-based lending rate (MCLR), more banks slashed their benchmark lending rates on R