LIC housing finance

The company had written off Rs 544.71 crore during FY23, in comparison to just Rs 23.03 crore written off in the previous year

Housing market, Homes, Real estate, Realty

Housing loans outstanding rose 15 per cent year-on-year to a record Rs 19.36 lakh crore at March-end, notwithstanding the Reserve Bank's rate hike spree since May last year, showed central bank data released on Friday.
The housing loan outstanding at March-end 2022 was Rs 16.84 lakh crore, a growth of 12.9 per cent year-on-year. The loan outstanding for housing (including priority sector housing) was Rs 14.92 lakh crore in March 2021.
The Reserve Bank has hiked the benchmark rate by 250 basis points since May 2022, leading to a firming up of interest rates on all loans, including for purchasing residential properties.
Releasing the data on 'Sectoral Deployment of Bank Credit  March 2023', the central bank said personal loans registered a growth of 20.6 per cent (year-on-year) in March 2023 compared to 12.6 per cent a year ago, primarily driven by housing loans'.
The personal loans segment includes consumer durables, housing, advances against fixed deposits, credit card outstanding,

buy, rent,

Go for house purchase if EMI doesn't exceed 40 per cent of net salary; ensure financial resilience with 12 instalments in emergency fund

chidambaram

Senior Congress leader and former finance minister P Chidambaram on Sunday urged Finance Secretary T V Somanathan to "re-examine his theory" that a housing loan is not a saving.
Somanathan, in an interview to The Hindu while talking about the old tax regime, said that if one looks at the structure of the tax deductions, half of them are for savings and half of them are for dis-savings like housing loan or interest on housing loan.
"The Finance Secretary asks 'Is the housing loan a saving?' His answer is 'No'. I wonder how many people will agree with the Finance Secretary,"  Chidambaram said on Twitter.
The payment of interest and the installments of the loan is indeed an expenditure, but it is expenditure which is converted into an asset, which is a saving, the former finance minister argued.
"Suppose you spend the same money on a holiday or at a race course: there will be no asset at the end," he said.
"The Finance Secretary should re-examine his theory that a Housing Loan is not

High interest rates does not impact the demand for housing as individual home buyers are aware that it may move up and down during the tenure of their loan, said a research report by Bank of Baroda.
The borrowing rates are on the rise since May this year after the Reserve Bank of India (RBI) effected first hike in the benchmark lending rate. The repo rate has increased by 140 basis points since May.
The report on 'Housing loan scenario in India' said the housing segment has shown resilience post pandemic.
The strong momentum in housing loans by both Public Sector Banks (PSBs) and other financial institutions also points to the same. The government and RBI measure to support this sector, along with lower prices and interest rates helped cushion the impact of the Covid-19 pandemic on this sector.
With normalisation of economic activity and a pickup in growth, demand for housing is poised to grow, suggesting more demand for housing loans, said the report authored by Aditi Gupta, ...

HDFC bank

Mortgage lender HDFC Ltd on Friday said it has raised USD 1.1 billion (around Rs 8,700 crore) from a clutch of investors under 'Syndicated Social Loan Facility' to cater to 
affordable housing

Credit Score

A credit score is among the first things a financial institution would check in order to sanction a loan

hdfc

Following the RBI MPC's decision to raise benchmark policy rate by 50 bps, many lenders, including ICICI Bank and BoB, have also raised their external benchmark linked loan rates by an equal amount

construction, real estate

While developers hail FM's announcement, they want the govt to exempt the entire interest paid on housing loan from income tax

housing

During the January-September period this year sales have declined by 57 per cent to 87,460 units, from 2,02,200 units a year ago

housing loan

The increase in EMI or tenure will be lesser if the government pays the compound interest

chart

RBI said on YoY basis, non-food bank credit grew 6.7 per cent in July 2020, the same as June 2020, but lower than the growth of 11.4 per cent in July 2019

Keki Mistry

For the housing sector, the authorities are aware of the strong linkages it has with the economy.

Consumer durable and housing loan accelerated the most, service sector witnesses a sharp fall in the credit growth rate

Limited loan growth gains for smaller home finance companies

HFCs give smaller-sized loans largely to the self-employed borrowers where banks have a lower presence

Small housing loan biz sees many players

Micro housing finance companies provide loans to people who have little documents to get a bank loan

The six units being planned to be listed are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited

Vedanta

To push their products in the Indian market, Apple Inc has not passed on to customers the cost of the hefty dealer margins offered to iPhone resellers and distributors

Apple Store Saket

How three men passionate about 'cool' motorcycles are trying to make India fall in love again with Jawa and Yezdi, with a leaf out of Royal Enfield's book

Jawa

The profitability of Meta, Amazon, Microsoft, Alphabet and Apple (MAMAA), twice the S&P 500 average of 10 per cent, has come to be seen as flowing from the abuse of market power, writes T N Ninan

Big Tech

The government is also likely to have sweeping powers to track, monitor, intercept, moderate and take down online content under the new law

aadhaar

Renewable solutions provider Suzlon Energy on Wednesday said Crisil upgraded its ratings by two notches to BBB+/A2 with a positive outlook.
"Suzlon Group today announced that Crisil has upgraded the ratings of Suzlon Energy Ltd to CRISIL BBB+/A2 from CRISIL BBB-/A3' with a Positive Outlook for long-term and short-term facilities, reflecting the company's strengthened financial  position, operational excellence and favourable sectoral tailwinds," a company statement said.
According to the statement, the rating upgrade is a result of Suzlon's successful reduction of debt by repaying the entire term debt through the proceeds of a qualified institutional placement (QIP) of approximately Rs 2,000 crore.
The reduction in fund-based borrowings, steady cash flows from the operations and maintenance (O&M) services business, and improved business profile in the wind turbine segment have contributed to this upgrade.
Suzlon Group Chief Financial Officer Himanshu Mody said, "This upgrade is a .

suzlon

Internet major Google will roll out an earthquake alert service in India that works using sensors in Android smartphones to detect and estimate the intensity of earthquakes, the company said on Wednesday.
Google has introduced "Android Earthquake Alerts System" in India in consultation with the National Disaster Management Authority (NDMA) and the National Seismology Centre (NSC).
"Today, in consultation with the National Disaster Management Authority (NDMA) and the National Seismology Center (NSC), we're introducing the Android Earthquake Alerts System in India. Through this launch, we strive to provide Android users automatic early warning alerts when there is an earthquake in their area," Google said in a blog.
The alert service will be available in Android 5 and later versions of the operating system.
"The Android Earthquake Alerts System is rolling out to all Android 5+ users in India during the coming week," the blog said.
The system takes the help of tiny accelerometers pre

Earthquake

The Indian team of Angad Vir Singh Bajwa, Gurjoat Khangura and Anant Jeet Singh Naruka bagged the team bronze medal in the men's skeet event of the Asian Games here on Wednesday.
The trio shot a total of 355 to settle for the third position as India continued their dominance at the range.
Hosts China won the gold medal while Qatar claimed the silver.
The Indian women's team, however, crashed out of the shotgun skeet event by finishing in the fourth position behind Kazakhstan, China and Thailand.

Indian shooting contingent for Asian Games 2023: Photo: NRAI

Indian shooting contingent

Japanese business solutions provider Fujifilm Business Innovation on Wednesday announced its foray into the office printer business in India to tap the high growth potential.
India will be the 15th operation for the company in the Asia Pacific (APAC) region for the office printer business and is targetting government offices as one of the main customers, Fujifilm Business Innovation Asia Pacific Pte Ltd President Masatsugu Naito said.
The global office printing market is around 3.3 million units a year, while that of APAC is about 0.5 million.
India accounts for about 25 per cent of the APAC market, he said here at the launch of the company's A3 multifunction printer Apeos Series for the Indian market.
While China remains the bigger market, Naito said in the APAC region, India has a huge potential considering how the country's economy has grown and is an "attractive location for all industries".
To establish its foothold in the market, the company is first launching products in th

printer, print outs

The quarter saw five funding rounds cross the $100 million mark, including the likes of Perfios, Zepto, Ola Electric, Ather Energy and Zyber 365

startups, funding, business

Indus Towers and IOC Phinergy (IOP) have inked a pact for the deployment of 300 zero-emission energy systems to optimise diesel consumption at Indus' telecom tower sites.
This move accelerates Indus Towers' progress towards its sustainability priorities, according to a release.
"Indus Towers Limited and IOC Phinergy Private Limited (IOP) have signed an agreement for deployment of 300 zero-emission energy systems based on aluminium-air technology, to optimise diesel consumption at Indus' telecom tower sites," the release said.
Indus Towers' CEO Prachur Sah said as part of the company's ESG vision, Indus Towers believes in nurturing environmental stewardship, being socially responsible and having robust governance.
"Indus Tower's agreement with IOP is a testimony of the company's commitment to build eco-friendly telecom tower sites by investing in solutions for resource optimisation," Sah added.
IOP is a joint venture company formed by IOCL and Phinergy Ltd, Israel to manufacture, s

The ways in which Covid-19 has restructured the geopolitical landscape are therefore relevant to the future of energy

sustainable energy, clean energy

India will host the 46th edition of the Pacific Asia Travel Association Travel Mart at Pragati Maidan in Delhi from October 4-6, the Union Ministry of Tourism said on Saturday.
The physical version of the event is being held after a hiatus of three years due to the COVID-19 pandemic, officials said, adding that the PATA Travel Mart 2023 will be held at the International Exhibition-cum-Convention Centre (IECC).
The IECC complex was also the venue for the G20 Summit held from September 9-10.
Headquartered in Bangkok, the Pacific Asia Travel Association (PATA), which was founded in 1951, is a renowned not-for-profit association recognised internationally for its role as a catalyst in the responsible development of travel and tourism in the Asia-Pacific region, the ministry said in a statement.
The event in Delhi will bring together tourism professionals and business stakeholders from across the world, offering a unique platform for networking, learning and collaboration, the officials

trade fair

Congress leader Rahul Gandhi on Saturday said if his party comes to power at the Centre, it would conduct a caste-based census to know the exact number of Other Backward Classes (OBCs) people in the country.
He was addressing a public meeting in Kalapipal assembly constituency in Shajapur district of Madhya Pradesh.
"Soon after coming to power, the first thing we will do is to go for a caste-based census to know the exact number of OBCs in the country as no one knows their exact number," Gandhi said.  He claimed that the country was being run by only 90 officers, including the cabinet secretary and secretaries, while the BJP MPs and MLAs had no role in framing policies and laws in the country.
The Rashtriya Swayamsevak Sangh (RSS) and bureaucrats are framing laws instead of elected BJP members, Gandhi alleged.
Terming Madhya Pradesh as the "epicentre" of corruption in the country, Gandhi said, "Scams like Vyapam have rocked the state. MBBS degrees are being sold, exam papers are be

Rahul Gandhi

Delhi Chief Minister Arvind Kejriwal visited Bhalswa landfill site on Saturday and said about 45 lakh tonnes of waste from it is expected to be processed and reduced by May next year.
Interacting with reporters at the site, Kejriwal said once 45 lakh tonnes of waste gets reduced, 35 acres of land will be reclaimed, which can be reused in multiple ways.
There are three landfill sites in Delhi, located at Okhla, Bhalswa and Ghazipur.
Kejriwal said Bhalswa landfill site has about 60-65 lakh tonnes of municipal waste spread over 72 acres, and besides legacy waste, 2,000 tonnes of fresh waste is getting added daily to the massive dump.
The target till today was to reduce 14 lakh tonnes of waste (from it), but it is being done speedily and the target has been exceeded, with the figure being 18 lakh tonnes, he said.
The chief minister said the target for the agency working on the waste processing at Bhalswa landfill site is to reduce waste by 30 lakh tonnes by May 15, 2024.
But, given t

Arvind Kejriwal

The India Meteorological Department said on Saturday said that the southwest monsoon has receded from Delhi, with the city receiving above normal rains during the season.
According to IMD data, the Safdarjung Observatory, the primary weather station of Delhi, received 660.8 mm of precipitation against a normal of 653.6 mm during the monsoon season (June to September).
Normally, the monsoon begins in the national capital by June 27 and recedes by September 25. This year, the rain-bearing system embraced the city on June 25.
"The southwest monsoon has further withdrawn from some parts of Jammu and Kashmir, Himachal Pradesh and Uttarakhand; entire Punjab and Haryana-Chandigarh-Delhi; some parts of west Uttar Pradesh, west Madhya Pradesh and east Rajasthan and some more parts of west Rajasthan today," the IMD said in a statement.
The weather office said conditions are becoming favourable for further withdrawal of the monsoon from remaining parts of Jammu, Kashmir, Ladakh, Gilgit, ...

housing loan

LIC Housing Finance to aggressively use OTS, ARC for loan recoveries

Housing loans rise 15% to Rs 19.36 trn despite high-interest rates

Enter longer-duration lease to control hike in home rental rates

Re-examine your theory on housing loan: Chidambaram to Finance Secy

High interest rates do not deter home buyers, says BoB research report

HDFC raises Rs 8.7k cr as 'social loan' to fund affordable housing segment

Explained: What is a credit score, why is it important & how to improve it

HDFC raises Retail Prime Lending Rate on housing loans by 50 bps

Cities with higher circle rates to gain from Sitharaman's new relaxation

Covid-19: Housing sales fell 46% in July-Sep; 57% in Jan-Sep on low demand

Huge relief for home loan borrowers if govt bears part of compound interest

Retail credit up by Rs 40,853 cr in July over June, MSME loans up slightly

Housing finance has key role in making India $5 trn economy: Keki Mistry

Festive season pushes retail lending in Sept to 16.6% from 15% a year ago

Limited loan growth gains for smaller home finance companies

Small housing loan biz sees many players