Currently, the secondary loan market in India is largely restricted to sale to asset reconstruction companies and ad hoc sale to other lenders including banks, but there is no formalised mechanism to deepen the market.

A Rs 20,000 crore fund, with government putting in half of the amount, will be set up to provide last-mile funding for housing projects that are not in bankruptcy court or already tagged as bad debt, Nirmala Sitharaman said at a press conference

FM Sitharaman announced Rs 10,000 crore fund for last-mile funding of stuck housing projects, reduction in interest rates on house-building advance and linking to 10-year government securities yields

FM Nirmala Sitharaman press meet: The FM says that as part of affordable housing, the government will give additional deduction up to Rs 1.5 lakh for interest paid on loans borrowed up to March 31, 2020, for purchase of house valued up to Rs 45 lakh

To find the accurate life insurance cover, experts suggest finding out Human Life Value (HLV) considering all aspects of the earning person and dependents

Under the revised rule, if someone does not maintain Rs 3,000 as average monthly balance and falls short by 50 per cent (that is Rs 1,500) the individual will be charged Rs 10 plus GST.

Access to easy credit is often so tempting to young borrowers that they end up ruining their credit profiles, which significantly diminish their ability to take loans in future

One year MCLR (marginal cost of funds-based lending rate), to which all the retail lending rates are pegged, stands at 8.15 per cent with effect from Tuesday, from 8.25 per cent earlier.

The bank has waived loan processing charges and will provide home loan at concessional rates, BoI general manager Salil Kumar Swain said

Frequent changes in interest rates may result in issues in the management of cash flows of the borrowers as EMIs may change more frequently

Continuing its gaining streak for the second stright session, PNB share price gained as much as 3.42 per cent to hit a day's high of Rs 61.95 after opening higher at Rs 61.80 on the BSE

PM Modi met his Japanese counterpart PM Shinzo Abe in Russia, President Trump talks about China's economy , home, auto loans to get cheaper and more news on News Blast.  

Shares of Oil and Natural Gas Corporation Ltd. (ONGC) rose over 9% intraday on Thursday after the oil and gas company issued a clarification on the fire accident at ONGC's oil and gas processing plant in Uran processing unit.

Home, auto loans to get cheaper! RBI makes repo-linked interest rates mandatoryThe Reserve Bank of India has mandatorily asked banks to link their loan products to key repo rates or external benchmarks. The change will come into effect from October 1, 2019. The move will make home loans and auto loans cheaper from October onward as the banks will now be forced to pass on the multiple rate cuts the RBI has made in recent monetary policy meetings.Unemployment rate hits three-year hi...

The lending rates of banks on home or personal loans are actually a function of their cost of funds, overheads, risk premium and profit margin. That's the reason why you pay less for a safe mortgage (home loan) and more for an unsecured personal loan

The Indian rupee will not regain ground lost against the dollar in the coming year, according to strategists polled by Reuters, who believe a recent rollback of a surcharge on foreign investments will have no impact on the currency.

India is likely to miss its fiscal deficit target for the current financial year, despite receiving an additional dividend from the the Reserve Bank of India (RBI), five government officials and advisers said, as tax collections have sunk amid a sharp slowdown.

Gold prices dropped on Thursday as risk-on sentiment got a boost after China and the United States agreed to hold talks to end their protracted trade dispute.

The rupee appreciated by 27 paise to 71.85 against the US dollar in early trade on Thursday as gains in domestic equity market enthused investors.

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