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Coronavirus Outbreak Updates: 267 new COVID-19 patients reported in Rajasthan today, total number of cases rises to 6,494
India

Coronavirus Outbreak Updates: 267 new COVID-19 patients reported in Rajasthan today, total number of cases rises to 6,494

Coronavirus Outbreak LIVE Updates: Two police stations have been sealed partially after a head constable was tested positive for COVID-19. According to police, the infected head constable was overseeing the arrangements to quarantine people who came from Mumbai.

State Bank of India hikes home loan rates by up to 30 basis points; other lenders may follow suit
Business

State Bank of India hikes home loan rates by up to 30 basis points; other lenders may follow suit

State Bank of India (SBI) has raised its home loan rates that are linked to repo rate by up to 30 basis points, a move which may be followed by other lenders

Coronavirus Outbreak: Bank of Baroda offers refund of March EMI to home, auto loan customers
Business

Coronavirus Outbreak: Bank of Baroda offers refund of March EMI to home, auto loan customers

State-run Bank of Baroda on Wednesday said it is offering retail customers the option of getting a refund of the EMI that already has been deducted in March to meet any liquidity need during the disruption caused by COVID-19 pandemic

SBI cuts MCLR for ninth time in a row, home loans to become cheaper; cuts interest rate on fixed deposits too
Business

SBI cuts MCLR for ninth time in a row, home loans to become cheaper; cuts interest rate on fixed deposits too

SBI further said in view of surplus liquidity in the system, it has realigned its interest rate on retail term deposits and bulk term deposits, effective 10 February.

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das
Business

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das

If the Reserve Bank of India (RBI) cuts the repo rate today, it would be the sixth reduction in the short-term lending rate this financial year.

SBI announces linking of new floating rate housing loan scheme to repo rate; to be effective from 1 October
Business

SBI announces linking of new floating rate housing loan scheme to repo rate; to be effective from 1 October

SBI withdrew the earlier scheme a few days ago in order to launch a revamped scheme effective from 1 October

SBI mulls to approach RBI for clarification on lender’s plan to offer fixed-floating rate home loans
Business

SBI mulls to approach RBI for clarification on lender’s plan to offer fixed-floating rate home loans

At present, SBI has a floating rate home loan product linked to its marginal cost of funds-based lending rate and it recently withdrew one linked to the repo rate.

SBI announces home, auto loans at cheaper rates during festival season; other lenders likely to follow suit
Business

SBI announces home, auto loans at cheaper rates during festival season; other lenders likely to follow suit

Recently, SBI reduced MCLR by 15 bps due to which overall home loan interest rate is now reduced by 35 bps since April 2019.

Repo rate cut impact: SBI home loan EMI to come down to 8.25% from tomorrow after lender cuts interest rate
Business

Repo rate cut impact: SBI home loan EMI to come down to 8.25% from tomorrow after lender cuts interest rate

On 7 August, SBI cut its benchmark lending rates by 15 basis points across all tenors, shortly after the RBI central bank slashed the repo rates by 35 basis points.

NHB's move to ban subvention scheme 'impulsive', must be withdrawn: Realtors' body CREDAI
Business

NHB's move to ban subvention scheme 'impulsive', must be withdrawn: Realtors' body CREDAI

The National Housing Bank's (NHB) decision to ban lending by housing finance companies under subvention scheme was "impulsive" and should be rolled back to boost sales, realtors' body CREDAI Chairman Jaxay Shah said here on Wednesday

Planning to invest in a house? You can get these three benefits by taking home loan in a woman's name
Business

Planning to invest in a house? You can get these three benefits by taking home loan in a woman's name

Govt has also encouraged this new wave of development and has devised various concessions/ policies to facilitate smoother access of funds to women investors

Converting your rent into EMI has greater resonance now that two self-occupied houses are tax-free
Business

Converting your rent into EMI has greater resonance now that two self-occupied houses are tax-free

One may be petrified by the prospect of interest outstripping the principal but then there is something called time value of money—you get to enjoy a house now which you cannot afford now.

Tax cuts for salaried middle-class: Here's how to claim benefits by investing in assets, payments to health insurance and education
Business

Tax cuts for salaried middle-class: Here's how to claim benefits by investing in assets, payments to health insurance and education

One of the most important and easiest principle of tax planning is claiming benefits from tax deductions.

RBI proposes floating interest rates on home, auto, MSE loans to be linked to new benchmarks from 1 April
Business

RBI proposes floating interest rates on home, auto, MSE loans to be linked to new benchmarks from 1 April

In a bid to ensure greater transparency, the RBI on Wednesday proposed that floating interest rates on personal, home, auto and micro and small enterprises (MSEs) loans will linked to external benchmarks like repo rate or treasury yields, from 1 April next year.

75% PF withdrawal on being unemployed for a month: Provident Fund was never intended as an unemployment dole
Business

75% PF withdrawal on being unemployed for a month: Provident Fund was never intended as an unemployment dole

If PF balance should remain impervious to court attachment orders, it should also remain impervious to being viewed as a low-hanging fruit to be plucked whenever one pleased.

Planning to get a home or auto loan? You may soon end up paying more but there’s no reason for major worry
Business

Planning to get a home or auto loan? You may soon end up paying more but there’s no reason for major worry

Banks are preparing to cushion their earnings by gradually increasing their lending rates in backdrop of hardening bond yields over past few months

Budget 2018: From standard deduction to health and education cess, how Arun Jaitley changed your money life
Business

Budget 2018: From standard deduction to health and education cess, how Arun Jaitley changed your money life

This standard deduction given in budget was in lieu of exemption in respect of transport allowance and reimbursement of miscellaneous medical expenses

Budget 2018: Low interest rates, single window clearance among key expectations of realty
Business

Budget 2018: Low interest rates, single window clearance among key expectations of realty

The real estate sector, which has been under stress due to decline in sales and project launches, has set high expectations on Budget 2018

Budget 2018: Increase tax exemption limit to Rs 3 lakh, says SBI report
Business

Budget 2018: Increase tax exemption limit to Rs 3 lakh, says SBI report

With rise in personal disposable income post 7th Pay Commission, the income tax exemption limit needs to be raised by Rs 50,000 to Rs 3 lakh, a SBI report said

Jaypee Infratech insolvency: The mess just got messier and home buyers may continue to lose out
Business

Jaypee Infratech insolvency: The mess just got messier and home buyers may continue to lose out

The bank default is hardly an issue. The bigger issue is the fact that a huge amount of money has been siphoned off from the home buyers