Tue, 09 Oct 2007 10:42:31 +0600 NRI Bank and Banking Services in India. Personal Banking, Open Accounts, Interest Rates, Exchange rates and rules in India for Indians living abroad http://www.nrirealtynews.com/nri-banking/latest-news.php en http://www.nrirealtynews.com/images/feed-logo.gif http://www.nrirealtynews.com/nri-banking/latest-news.php GE Money Wizard is chalking out a novel strategy based on a wealth-sharing plan to garner the huge home loan market in India through owner operator branches competitive pricing and customer oriented mortgage products. http://www.nrirealtynews.com/stories/oct07/home-loans-made-more-affordable-by-wizard.php Tue, 09 Oct 2007 13:52:39 +0600 HSBC is working on an India specific real estate fund with a target of USD 500 - 600 million. The London-based bank is planning to garner a share of the booming Indian real estate market and HSBC realty fund would be its first India focused fund. http://www.nrirealtynews.com/stories/oct07/hsbc-realty-fund-Offing.php Tue, 09 Oct 2007 13:54:31 +0600 The bid to bring back customers for home loans is on as more banks trim their loan rates. The latest to join the league are Allahabad Bank Canara Bank and Central Bank. http://www.nrirealtynews.com/stories/oct07/wider-access-home-loans-more-banks-slash-rates.php Tue, 09 Oct 2007 13:55:53 +0600 NRI deposits have received a setback following a drop in the interest rate and the weakening of the dollar against the Indian rupee. http://www.nrirealtynews.com/stories/oct07/nri-deposits-face-odds-interest-rates-drop.php Tue, 09 Oct 2007 13:57:00 +0600 The Indian home loan market is astir with the entry of Wizard Home Loans from Australia. Wizard is a subsidiary of GE Money and has ambitious targets of figuring in the top 5 mortgage companies of India. http://www.nrirealtynews.com/stories/sep07/wizard-launches-home-loan-products-in-india.php Tue, 09 Oct 2007 13:58:13 +0600 New home loans from Union Bank would be charged at a lower rate with immediate effect depending on the size of the loan. http://www.nrirealtynews.com/stories/sep07/union-bank-joins-move-cut-home-loan-rates.php Tue, 09 Oct 2007 13:59:23 +0600 There good news for those who have been waiting for interest rates to drop in order to purchase a property HDFC is expected to lower its rates this week following similar initiatives by Bank of Baroda and IDBI. http://www.nrirealtynews.com/stories/sep07/hdfc-may-slash-home-loan-rates.php Tue, 09 Oct 2007 14:00:46 +0600 Real estate companies and banks have been severely affected by the RBI diktat on high interest rates. Real estate majors admit to a sharp drop in bookings ever since ever since the lending rates were increased. http://www.nrirealtynews.com/stories/sep07/high-lending-rates-affect-indian-real-estate.php Fri, 28 Sep 2007 10:31:48 +0600 The re branded Axis Bank is venturing into retail banking operations overseas, with an eye on managing the investments of NRIs. http://www.nrirealtynews.com/stories/sep07/axis-bank-woos-nri-investors.php Fri, 28 Sep 2007 10:32:39 +0600 The Centurion Bank of Punjab has announced major plans for the NRIs from Kerala after its merger with the Lord Krishna Bank recently. http://www.nrirealtynews.com/stories/sep07/cbop-tie-up-lkb-targets-nris-kerala.php Fri, 28 Sep 2007 10:33:34 +0600 The growth of housing loans has been adversely affected by rising home loan rates. From a 29.1% growth rate in 2005-06, the rate is expected to drop to 17-20% by the end of the current fiscal, as per a study carried out by Assocham. 4 Sep 2007 05:23:40 GMT http://www.nrirealtynews.com/stories/sep07/bank-baroda-offers-respite-home-loan-rate.php 6B5129F2-FE0B-4DA6-A785-E2A2AE8ACD91 Doha Bank is planning to launch mutual funds in India in an arrangement with Investnet. The bank has acquired a 49% stake in Investnet and the company is undergoing a re-branding exercise, with the Doha Bank CEO taking over the reins as Chairman. 7 Sep 2007 05:23:17 GMT http://www.nrirealtynews.com/stories/sep07/doha-bank-offers-mfs-to-nris.php BC5046A2-F0DD-45E5-95CC-D327B2445E68 The Reserve Bank of India has taken fresh measures to suck out excess foreign capital, by allowing resident Indians to open accounts abroad and transfer up to USD 100,000 without seeking its approval under the Liberalised Remittance Scheme (LRS). 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/aug07/rbi-permits-overseas-remittance.php YES Bank has announced its new International Banking Scheme, offering a bouquet of technology driven products and services. These include debt, trade finance, corporate finance, investment banking and business advisory services, treasury and global Indian banking. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/aug07/yes-bank-federal-bank-introduce-new-schemes-nris.php Dr. Y Venugopal Reddy, Governor, Reserve Bank of India submitted the First Quarter Review of the Annual Monetary Policy for the Year 2007-08. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/aug07/annual-monetary-policy-for-2007-08.php At ICICI Bank, the cut applies to interest rates on deposits below Rs.15 lakh for 2 schemes. The 181 to 365 day and the 366 days to 2 year deposits will both avail 6.25% instead of 6.5% and 6.75% offered earlier. The special deposit schemes of the ICICI Bank however, remain unaffected. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/aug07/more-banks-cut-deposit-rates-fresh-curbs-on-ecbs.php Dr. Y Venugopal Reddy, Governor, Reserve Bank of India submitted the First Quarter Review of the Annual Monetary Policy for the Year 2007-08. The highlights of the report are: 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/aug07/annual-monetary-policy-for-2007-08.php The State Bank of India has cut rates on some fixed deposits with effect from 6th August, 2007. Fixed deposits for a term of 1-2 years have been reduced by 0.25% to 8%, while the rates on deposits of 3-10 years have been raised to 8.5%. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/aug07/banks-slash-deposit-rates.php India booming economy and an upbeat banking sector are precursors to the banks reported quarterly profit. The growing demand for loans has been instrumental in registering banks profits. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/july07/indian-banks-report-profit-q1.php A 35 percent dip in home loan disbursals in the first quarter has propelled HDFC to ponder cutting its home loan interest rates. The fall however is less than the 42 percent dip witnessed by ICICI Bank. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/july07/home-loan-rates-likely-cut-hdfc.php HDFC has introduced its Asset Plus scheme which offers loans against property at a 13.25% interest rate. Comparing favourably with auto finance and personal loans, HDFC hopes to convert its home loan borrowers who have already cleared their loans to avail of this scheme. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/july07/hdfc-launches-loan-property-scheme.php The National Housing Bank formally launched the NHB Residex last week to monitor residential property prices and evaluate the house wealth in the cities of Bangalore, Delhi, Kolkata, Mumbai and Bhopal. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/july07/housing-index-realty-index-make-parallel-launch.php Interest rates on NRI deposits have been raised by ICICI Bank with effect from July1, 2007. As per the changes, NRE fixed deposits for one-year have increased by 0.16%, to touch 5.43%. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/july07/icici-raises-interest-on-nri-deposits-lowers-floating-loan-rates.php Taking the cue from the State Bank of India, other leading public and private banks have taken the initiative to woo NRI investors by hiking the interest rates on NRI deposits with immediate effect. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/jun07/more-banks-raise-interest-rates-nre-deposits.php As the perception of reverse mortgage gains popularity in India, HDFC proposes to enter the market with a customized mortgage product for the elderly. The process of identifying potential customers has already been initiated in Athashri in Pune, a housing society exclusively for senior citizens. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/jun07/hdfc-ventures-reverse-mortgage.php India leading nationalized bank, the State Bank of India, has increased its rate of interest on NRI deposits with effect from June 1, 2007. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/jun07/state-bank-hikes-interest-rates-nri-deposits.php The RBI Governor has reassured global audiences that India current account deficit (CAD) would not create imbalances in the global economy. The CAD is at 1.7 percent currently in spite of a trade deficit of almost 7 percent owing to NRI remittances. 31 Aug 2007 06:58:36 GMT http://www.nrirealtynews.com/stories/may07/india-cad-does-not-create-global-imbalances.php