Tuesday, November 2, 2010

Banks to lend only 80% of home price

Banks to lend only 80% of home price

Banks to lend only 80% of home price

Posted: 02 Nov 2010 12:40 PM PDT

While most banks are in a wait-and-watch mode on their lending and deposit rates after the Reserve Bank of India's decision on Tuesday to hike key policy rates--repo and reverse repo--by a modest 25 basis points (100 basis points=1%), it is certain that from now on, anyone applying for a housing loan from a bank will have to pay a margin money of at least 20% of the value of the property.

Posco's chances dim as another panel says no

Posted: 02 Nov 2010 01:11 PM PDT

In the biggest blow yet to the South Korean giant's Rs 54,000-crore project in Orissa, a key panel of the environment ministry has recommended the withdrawal of forest clearance to the firm's plan to build an integrated steel plant.

Harley to assemble bikes in India

Posted: 02 Nov 2010 05:16 PM PDT

Cult bikemaker of US Harley Davidson will assemble some of its models in India from 2011, a move that is set to drive down the price of aspirational vehicles in the market.

Pilots stay in 5-star hotels at AI's expense

Posted: 02 Nov 2010 05:22 PM PDT

AI may have loaded up losses worth Rs 14,000 crore in the last four fiscals, it's debt burden may be close to Rs 40,000 crore and it may be seeking government funds for rescue, but that does not stop the airline from wasting resources as a recent trend shows.

Sensex ends flat after RBI's rate hike

Posted: 02 Nov 2010 05:32 AM PDT

The Bombay Stock Exchange's 30-share barometer, which rose over 300 points in previous trade, ended the session lower by 9.94 points, or 0.05 per cent, at 20,345.69, with the maximum loss caused by RIL, HDFC and DLF.

IDBI Bank raises interest rates

Posted: 02 Nov 2010 09:44 AM PDT

Public sector lender IDBI Bank hiked deposit and lending rates by up to 50 basis points on Tuesday, hours after the RBI announced a slew of measures to tighten the monetary policy.

RBI hikes key rates by 25bps

Posted: 01 Nov 2010 11:44 PM PDT

The Reserve Bank of India raised interest rates for the sixth time this year to battle stubborn inflation that remains well above its comfort zone of 5-6 %.

Big IT moves more work, jobs to China

Posted: 01 Nov 2010 10:06 PM PDT

As the Chinese pitter-patter into IT services turns into a loud clatter, Indian majors are pushing hard to grab a bigger slice of that market.

Harley plans to set up assembly facility in Haryana

Posted: 02 Nov 2010 12:47 AM PDT

Heavyweight motorcycle maker Harley-Davidson Inc said it plans to set up an assembly facility in Haryana to serve the local market, using US - made component kits.

Rupee up by 6 paise against dollar

Posted: 01 Nov 2010 11:23 PM PDT

The rupee appreciated by 6 paise to Rs 44.41 against the dollar at the Interbank Foreign Exchange market in morning trade today largely on weakness in the US currency in overseas markets.

Sensex opens 36 pts down on profit booking

Posted: 01 Nov 2010 10:17 PM PDT

The Bombay Stock Exchange benchmark Sensex fell by over 36 points in early trade today as investors and funds booked profits ahead of the RBI's monetary policy review later in the day.

Remove budget arm’s COO, AI advised

Posted: 02 Nov 2010 05:25 PM PDT

The daggers are drawn between Air India management on one side and others, including the aviation ministry and board members, on the issue of the controversial appointment of Pawan Arora as AI Express COO and some other new `expensive' catches.
Posted by Harshad at 9:26 PM

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