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Defending the teaser rate scheme, State Bank of India (SBI) Chairman O P Bhatt said that over 2.92 lakh borrowers availed themselves of the scheme to buy their dream homes. “About 2.92 lakh people were given home loans at teaser rates (8 % or the prevailing rates) … totalling about Rs 10,000 crore,” he said, […]

Home loan provider LIC Housing Finance has sought a clarification from the National Housing Bank (NHB) on its provisioning requirement on “teaser” mortgages loans-where rates are lower in the initial years and rise subsequently. The home finance company has sought a clarification after the SBI refused to make any provisions on similar dual rate loans […]

Two days after the Reserve Bank of India raised key short-term rates; HDFC Bank on Thursday became the first major lender in the country to announce a plan to raise lending rates, which will make home and car loans expensive. “There will be an increase in lending rates, both in retail and corporate sides. Most retail products, […]

Indira Gandhi National Open University (IGNOU) invites applications for admission into the Foundation Course on Education of Children with Disabilities (FCED), session commencing from February 2011. It is a special certified training programme on inclusive education for school teachers. In-service teachers from any school are eligible to apply. The course fee is Rs 1500 for […]

In its third quarter monetary policy review, the Reserve Bank of India (RBI) on Tuesday increased key policy rates. What happened? RBI raised the repo rate, the rate at which banks borrow from the apex bank, from 6.25% to 6.50% and the reverse repo rate, the rate at which RBI borrows from the banks, from […]