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There has been a slowdown in the growth of housing loans with higher interest rates and rising property prices taking homes out of the reach of the middle-class, according to National Housing Bank (NHB) chairman and managing director (CMD) R.V. Verma. “During the four years preceding to the 2008 crisis, the home loan portfolio for […]

Growth in car sales at most car makers was slower in April than the previous month as several companies raised prices to offset the impact of higher raw material costs. Also, borrowing costs are rising as the reserve bank increases interest rates to tame inflation. April sales are also traditionally lower than in March when […]

Credit cards which moved from being embossed pieces of plastic to magnetic swipe cards a decade back are set for another transformation as the Reserve Bank of India moves to the next level of card security. An RBI panel has said that all credit cards issued three years from now should have an electronic chip […]

Potential home buyers are postponing their conclusion to buy a house due to high property prices and increasing interest rates leading to a slowdown in housing credit, said RV Verma, chairman, National Housing Bank. The Reserve Bank of India’s (RBI) sectoral bank credit data showed that the home loans outstanding of banks increased to Rs […]

While the local units of Suzuki Motor Corp. Hyundai Motor Co. and posted marginal gains in passenger vehicle sales in May, Tata Motors Ltd. posted a decline in sales as high inflation, rising loan rates and price increases hurt demand. Growth in vehicle sales has been hit as several companies raised prices in January and […]