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Leading group-buying real estate portal Groffr.com has tied up with private sector banks to offer bulk consumers home loans that are 0.25-0.75% cheaper than prevailing interest rates. “We have tied up with ICICI Bank and Indiabulls Home Loans, and a couple of Building Societies Associations (BSA) who generate bulk volume for banks. Negotiations are also […]

Higher inflation typically draws murmurs from conventional investors who park their money in fixed deposits, company deposits, debt mutual funds and so on. The familiar line of complaint being the returns often fail to catch up with the rate of inflation- especially if one works out the returns after accounting for income tax. With inflation […]

In another case of a regulated entity taking the regulator to court, the Gujarat Urban Co-operative Banks Federation (GUCBF) has petitioned the Gujarat High Court, seeking relief from a circular issued by the central bank. The case relates to the Madhavpura Mercantile Co-operative Bank (MMCB), which was trapped in the 2001 Ketan Parekh scam and […]

The State Bank of India, the country’s largest commercial bank, has been forced to withdraw “teaser” mortgage loans amid fears of repeating the lending follies of the US subprime crisis. Under pressure from the Reserve Bank of India to curb what the regulator considered potentially reckless lending, the SBI said last week that it would […]

State Bank of India (SBI) has finally withdrawn the teaser rate home loan scheme because of rise in repayments for customers and majorly as the Reserve Bank of India stuck to its view that the product was akin to the US subprime loans that sank the global financial system. Their home and car loan schemes […]