UwidoNews

LIC Housing Finance , today announced a reduction in interest rates for its existing home loan borrowers.

Housing Development Finance Corporation Ltd (HDFC), the multi-faceted finance company, has decided to dilute a maximum 3.5 per cent equity to Qualified Institutional Buyers (QIBs) to raise over Rs 4000 crore.

LIC Housing Finance, the home loan arm of Life Insurance Corp, aims to raise Rs 500 crore through public deposits in 2009-10. The move is part of it strategy to shed dependence on the wholesale funding market.The company last year received permission from the Reserve Bank of India to raise deposits from the public and raised Rs 170 crore.

Auto maker Mahindra & Mahindra (M&M) on Tuesday said it has entered into an agreement with the State Bank of Bikaner and Jaipur (SBBJ) for vehicle finance.M&M customers can avail of a loan up to 85 per cent of the on-road price of the vehicle with a repayment tenure of up to seven years. Interest rates of 12 per cent would be charged on passenger vehicles and 11.75 per cent on commercial vehicles, M&M said in a statement.
http://economictimes.indiatimes.com/News-by-Industry/MM-signs-pact-with-...

The countrys largest private sector lender, ICICI Bank, does not see immediate pressure on interest rates, but expects them to rise from the second quarter (July-September) of next financial year due to increase in demand for credit. Now-RBI may not increase policy rates in April policy: Kamath-No pressure on interest rates over next 9 months: Kamath-'Consumption, investment will drive growth'-Banks to review teaser home loan plans in March-Bankers see huge challenges in next financial year-

Mortgage lender LIC Housing Finance has raised 10 billion rupees via three-year bonds, two sources with knowledge of the deal said on Monday.

The inflation rate has been rising gradually. With this rise, the fear of a hike in interest rates and tightening of the credit policy seem to beInflation coming true in the next few months.

Chandigarh Housing Board (CHB) has rolled out several latest plans and schemes for Chandigarh in its recent status report.The board has set for itself the target of providing houses to more than 30,000 residents belonging to different economic segments.Sanjay Kumar, Housing-cum-Finance Secretary, UT Administration, said CHB would complete the construction of 10,816 flats in Sector 49 (Group I and II); Dhanas; Ram Darbar and Sector 26 (E) by June 2010 at an estimated cost of Rs 51.34 crore.

SBI (State Bank of India) has snipped interest rates by 25-50 basis points on deposits up to 5 years time period. After several months, this is for second time that India’s biggest bank has snipped term deposit rates.