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Badal Encourages NRIs to Invest in Punjab

Posted: 08 Feb 2010 09:33 PM PST

While urging the NRI Punjabis to undertake development projects in villages and the cities of the state, Chief Minister Parkash Singh Badal today said that the state government would bear 70% of the cost of such projects. The Chief Minster said this while inaugurating the state's biggest senior citizens home, which has been built on [...]

Banks Keep Home Loan Rates Steady despite RBI’s Hike in CRR

Posted: 08 Feb 2010 09:25 PM PST

The Reserve Bank of India (RBI) hiked the cash reserve ratio (CRR) in the monetary policy review last week. Despite a more-than-expected hike in the CRR, banks have, in general, ruled out any immediate hike in lending rates. According to bankers, there is abundant liquidity in the system and they can absorb the increased cash [...]

Axis Bank Withdraws its Home Loan Scheme 2 Months before Schedule

Posted: 08 Feb 2010 09:21 PM PST

The increase in the cash reserve ratio (CRR) has started taking a toll on interest rates, with Axis Bank withdrawing its teaser home loan scheme two months before schedule. India's third-largest private bank had launched a fixed-cum-floating rate home loan scheme on January 6. It offers 8.25 per cent interest rate for the first two [...]

Real Estate Developers Reviving Big-Ticket Projects in Kolkata

Posted: 07 Feb 2010 09:05 PM PST

Real estate developers are reviving big-ticket projects in Kolkata after securing a commitment from the West Bengal government that "some kind of incentive" would be offered to help them emerge from the downturn. The projects had been halted for at least 18 months. States such as Maharashtra, Gujarat and Uttar Pradesh have already announced incentives [...]

Banks Expected to Take Action over RBI’s Concern on Home Loan Rates

Posted: 07 Feb 2010 08:57 PM PST

RBI deputy governor Usha Thorat has said the central bank has made clear to banks its thoughts on teaser rates on home loans, and banks are expected to take action. Speaking on the sidelines of a finance conference on Monday, Ms Thorat said: "Banks should have taken whatever message was given," when asked about further [...]

RBI Rules Out Restructuring of Bad Real Estate Loans

Posted: 07 Feb 2010 08:54 PM PST

The Reserve Bank of India (RBI), worried about soaring asset prices, has ruled out one more round of restructuring of bad real estate loans which may increase non-performing assets of banks, but bring down prices of homes as developers sell off properties to pay lenders, said at least two people familiar with the matter. "Let [...]

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