Finance : CHAPTER 1 – INTRODUCTION 1.1 ABSTRACT Developing countries in the world there are very less financial structure where many peo...
Income Tax : The Income Tax Act, 1961 does not contain specific provisions relating to Housing Finance Companies (HFCs). Thus, all the general ...
Company Law : In this Flash editorial, the author begins by referring the provisiosn of National Housing Bank, Housing Finance Companies. Author...
Finance : Your Home Loan is a secured loan. Compared to unsecured loan options, this huge loan comes at a comparatively less rate of interes...
Finance : We’ve all probably dreamt of a dream home at some point in our lives. If youre a step ahead, youve probably seen some of the bes...
Corporate Law : The levy of a penalty by banks and housing finance companies for foreclosure of home loans does not amount to abuse of dominant po...
Finance : The super built-up area has now been given a new nomenclature: useable area. While earlier, a builder would present the entire are...
SEBI : Capital market regulator Securities and Exchange Board of India (Sebi) on Thursday eased norms for security, or the asset cover, r...
Finance : Earlier, the entities that fell under the ambit of the law included only chit fund companies, banking companies, financial instit...
Finance : Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-pa...
Finance : The housing finance regulator said Housing Finance Companies will no longer levy any fee on floating rate loans. In case of fixed ...
Fema / RBI : The Reserve Bank of India (RBI) on Wednesday withdrew the special short-term foreign currency borrowings facility for non-banking ...
Fema / RBI : Please refer to paragraph 7.5 of our Master Circular dated July 1, 2009 on Lending to Priority Sector, in terms of which loans gra...
The housing finance regulator said Housing Finance Companies will no longer levy any fee on floating rate loans. In case of fixed rate loans, it has made a distinction and only those borrowers who pay from their “own sources”, such as savings or even loans from relatives, will be exempted from payment of penalty. In […]
The levy of a penalty by banks and housing finance companies for foreclosure of home loans does not amount to abuse of dominant position, the Competition Commission of India (CCI) ruled on Tuesday, quashing borrowers’ hopes that the practice could be
The super built-up area has now been given a new nomenclature: useable area. While earlier, a builder would present the entire area of a flat to a consumer, now he sells an apartment by dividing its space into a carpet area and a super built-up area,
The Reserve Bank of India (RBI) on Wednesday withdrew the special short-term foreign currency borrowings facility for non-banking financial companies (NBFCs) and housing finance companies. The central bank made the decision after reviewing the macroeconomic conditions and improvements in the domestic credit and liquidity conditions, it said in a statement.
Please refer to paragraph 7.5 of our Master Circular dated July 1, 2009 on Lending to Priority Sector, in terms of which loans granted to Housing Finance Companies (HFCs), approved by National Housing Bank for the purpose of refinance, for on-lending to individuals for purchase/construction of dwelling units, provided the housing loans granted by HFCs do not exceed Rs.20 lakh per dwelling unit per family, are eligible to be classified under priority sector. However, the eligibility under this measure is restricted to five per cent of the individual bank’s total priority sector lending, on an ongoing basis. The above special dispensation is applicable to loans granted by banks to HFCs up to March 31, 2010.
Capital market regulator Securities and Exchange Board of India (Sebi) on Thursday eased norms for security, or the asset cover, required for issuing secured bonds. Sebi said that issuers will have to maintain a 100% asset cover that is sufficient to discharge the principal amount at all times for their debt securities offerings.
Earlier, the entities that fell under the ambit of the law included only chit fund companies, banking companies, financial institutions and housing finance companies. The amendment now says any company registered under section 25 of the Indian Companies Act, 1956, and/or as a trust or society under the Societies Act, 1860, or any similar state legislation, will be brought under the purview of PMLA.
Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans. The Competition Commission of India, according to a CCI official, is scrutinising a complaint concerning pre-payment penalty from a customer against major home loan players like HDFC, LIC Housing Finance and Deutsche Postbank.
The Government today launched an interest subvention scheme of 1% on all individual housing loans upto Rs.10 lakh for units costing upto Rs. 20 lakh. The scheme recognizes that cut in interest rates has an important role to play in reducing EMIs of borrowers & creating additional demand for housing. The Scheme will cover all […]
The Finance Minister announced a slew of amendments on both income-tax and service tax fronts to achieve the objective of generating economic activity in the present environment of economic slowdown
