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The SBI is looking at achieving a home loan AUM of <span class='webrupee'>₹</span>7 trillion by FY 2024.(Mint)

SBI crosses 5 trillion-mark in home loan business

PTI | , Mumbai
PUBLISHED ON FEB 10, 2021 03:25 PM IST
The real estate and housing business (REHBU) unit of the bank has grown five times in the last 10 years with an asset under management (AUM) of 89,000 crore in 2011 to 5 trillion in 2021.
A worker wearing a protective masks packs a roll of adhesive sealing tape at a factory in Sonipat district, Haryana.(Bloomberg File Photo)
A worker wearing a protective masks packs a roll of adhesive sealing tape at a factory in Sonipat district, Haryana.(Bloomberg File Photo)

Retail, small biz loans aid credit recovery

Mint, Mumbai | By Gopika Gopakumar
PUBLISHED ON OCT 31, 2020 06:12 AM IST
According to the Reserve Bank of India’s sectoral credit deployment data released on Friday, the jump in bank credit was driven by personal loans, services sector and agriculture and allied sectors.
The government will have to shell out Rs 6,500 crore for the implementation of the scheme.(PTI)
The government will have to shell out Rs 6,500 crore for the implementation of the scheme.(PTI)

Centre announces interest waiver scheme for loans up to Rs 2 crore

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Poulomi Ghosh
UPDATED ON OCT 24, 2020 02:11 PM IST
MSME loans, education loans, housing loans, consumer durable loans, credit card dues, automobile loans, personal, professional loans and consumption loans are eligible for this scheme.
Muthoot said it is a welcome move that reflects the central bank’s focus on catalysing credit flow and reviving the economy.(REUTERS)
Muthoot said it is a welcome move that reflects the central bank’s focus on catalysing credit flow and reviving the economy.(REUTERS)

RBI’s targeted long-term liquidity measures to ease borrowing cost for NBFCs: Industry

New Delhi | By Press Trust of India| Posted by Susmita Pakrasi
PUBLISHED ON OCT 09, 2020 06:45 PM IST
The non-banking financial companies (NBFCs) said the decision to keep the key repo rate -- at which the RBI lends short term money to banks -- unchanged was on expected lines and in consideration with keeping the inflation target while supporting growth.
File photo of a labourer using a hammer to break bricks at the construction site of a house in Noida, Uttar Pradesh.(Bloomberg Photo)
File photo of a labourer using a hammer to break bricks at the construction site of a house in Noida, Uttar Pradesh.(Bloomberg Photo)

RBI relaxes rules, makes home loans till March 2022 cheaper

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
UPDATED ON OCT 09, 2020 03:59 PM IST
The The Reserve Bank of India’s (RBI’s) move will likely make more credit available to borrowers and particularly for the higher value loans.
Rather than giving direct benefits to residential real-estate as a whole, the finance minister laid more focus on alternative segments within real estate such as warehousing, data centres, schools and hospitality market.(Istock)
Rather than giving direct benefits to residential real-estate as a whole, the finance minister laid more focus on alternative segments within real estate such as warehousing, data centres, schools and hospitality market.(Istock)

Budgeting for the long run

Hindustan Times | By Aishwarya Iyer
PUBLISHED ON FEB 08, 2020 07:45 PM IST
No measures to boost liquidity or demand but those around the infrastructure and taxation may benefit the sector
Revenue Secretary Ajay Bhushan Pandey(PTI)
Revenue Secretary Ajay Bhushan Pandey(PTI)

‘Purpose behind tax move is to offer a simplified system’: Revenue Secretary

Hindustan Times, New Delhi | By Shishir Gupta and Rajeev Jayaswal
UPDATED ON FEB 03, 2020 12:43 AM IST
The purpose of the proposal is to offer an option of a simplified system, particularly to those who are not availing many exemptions, revenue secretary Ajay Bhushan Pandey said in an interview with Hindustan Times.
HT Image
HT Image

Forum tells bank to pay up 2K relief to Chandigarh man

HT Correspondent | By HT Correspondent, Chandigarh
UPDATED ON JAN 20, 2020 12:35 AM IST
Had added lien marking fee to complainant’s housing loan account without any provision
The most recent surge in housing credit demands has been prompted by updates from the RBI which mandate financial institutions to link their lending rates to external benchmarks such as the MCLR.(iStock)
The most recent surge in housing credit demands has been prompted by updates from the RBI which mandate financial institutions to link their lending rates to external benchmarks such as the MCLR.(iStock)

Are you aware of these latest home loan updates?

By Promotional Feature, HT Brand Studio
UPDATED ON NOV 28, 2019 11:32 AM IST
With the Central Bank and govt. introducing multiple amendments in the sector constantly, it is crucial for borrowers to remain updated to maximize their benefits.
Financial institutions now offer lower interest rates to women to encourage investment into land, gold and businesses.(Getty Images/iStockphoto)
Financial institutions now offer lower interest rates to women to encourage investment into land, gold and businesses.(Getty Images/iStockphoto)

Century Real Estate introduces My Home My Choice offer - Exclusively for women home buyers!

Asian News International | By Asian News International
UPDATED ON SEP 08, 2019 12:57 PM IST
Women are now showing encouraging signs and being aware of the need for financial independence. They are also working together with their family members in contributing equally to the creation of necessary assets such as housing properties.
The District Consumer Redressal Forum has asked the Maharashtra Housing and Area Development Authority (Mhada) to pay ₹1.60 lakh along with interest as compensation for delay in handing over possession of a flat that was allotted to the complainant in 2007. (Representative Image)(Bachchan Kumar)
The District Consumer Redressal Forum has asked the Maharashtra Housing and Area Development Authority (Mhada) to pay ₹1.60 lakh along with interest as compensation for delay in handing over possession of a flat that was allotted to the complainant in 2007. (Representative Image)(Bachchan Kumar)

Maharashtra housing body to pay man Rs 1.6 lakh for 12-year delay in handing over flat

Mumbai | By HT Correspondent
UPDATED ON AUG 10, 2019 03:15 AM IST
The forum held Mhada guilty of deficiency in services on the complaint filed by Mohammed Rafi Nabilal Sarnobat, a resident of Mankhurd.
Apart from this new proposed deduction, the interest paid on housing loans was already allowed as a deduction to the extent of Rs 2 lakh but for ‘self-occupied property’. Will the interest component go up to Rs 3.5 lakh?(PTI File Photo)
Apart from this new proposed deduction, the interest paid on housing loans was already allowed as a deduction to the extent of Rs 2 lakh but for ‘self-occupied property’. Will the interest component go up to Rs 3.5 lakh?(PTI File Photo)

Tax break for Rs 45 lakh homes

Hindustan Times, Mumbai | By HT Correspondent
UPDATED ON MAY 28, 2020 10:45 PM IST
“The economy is slowing down and consumption is at a 20-quarter low coupled with a liquidity crisis,” said Chawla.
Those purchasing homes valued up to Rs 45 lakh under the affordable housing scheme can avail enhanced interest deduction up to Rs 3.5 lakh.(HT File)
Those purchasing homes valued up to Rs 45 lakh under the affordable housing scheme can avail enhanced interest deduction up to Rs 3.5 lakh.(HT File)

Budget 2019: FM proposes additional tax deduction of Rs 1.50 lakh on home loan interest

New Delhi | By Asian News International
PUBLISHED ON JUL 05, 2019 02:34 PM IST
Budget 2019: Those purchasing homes valued up to Rs 45 lakh under the affordable housing scheme, Sitharaman said, can avail enhanced interest deduction up to Rs 3.5 lakh.
In her suicide note, the woman blamed her husband for forcing her to bring money from her maternal home to pay the bank loan.(Getty Images/iStockphoto)
In her suicide note, the woman blamed her husband for forcing her to bring money from her maternal home to pay the bank loan.(Getty Images/iStockphoto)

Kerala woman and daughter blame family not bank loan for suicide

Hindustan Times, Thiruvananthapuram | By HT Correspondent
UPDATED ON MAY 15, 2019 11:59 PM IST
Relatives had initially said the Canara Bank’s bid to attach their house for failing to repay a housing loan drove the two to kill themselves but police said they found a suicide note which squarely blamed family members for driving them to death
The move comes days after the Reserve Bank of India cut its policy interest rate by 25 basis points, in a widely expected move to boost the economy.(Mint file photo)
The move comes days after the Reserve Bank of India cut its policy interest rate by 25 basis points, in a widely expected move to boost the economy.(Mint file photo)

SBI cuts lending rates, home loans to get cheaper

Reuters | By Press Trust of India
UPDATED ON APR 09, 2019 07:20 PM IST
State Bank of India, the country’s largest lender by assets, on Tuesday cut its benchmark lending rates by five basis points across all tenors.
Bro is a humanoid deployed by Canara Bank, at their digital banking branch in Mumbai, who greets visitors, answers questions and signs off with a warm “Cheerio!”(Satyabrata Tripathy/HT Photo)
Bro is a humanoid deployed by Canara Bank, at their digital banking branch in Mumbai, who greets visitors, answers questions and signs off with a warm “Cheerio!”(Satyabrata Tripathy/HT Photo)

Would you bank on a bot? In Mumbai you can

Hindustan Times | By Dipanjan Sinha
PUBLISHED ON SEP 29, 2018 07:29 PM IST
At a bank’s branch in Prabhadevi, Bro answers questions and helps with information about housing loans, car loans, money transfers and deposits
Last fiscal, the total disbursements of housing loans by PSBs and HFCs in 2017-18 also showed a growth of 33 % (Rs 3 lakh crore) as against Rs 3.2 lakh crore in 2016-17.(HT Photo)
Last fiscal, the total disbursements of housing loans by PSBs and HFCs in 2017-18 also showed a growth of 33 % (Rs 3 lakh crore) as against Rs 3.2 lakh crore in 2016-17.(HT Photo)

78% of new accounts booked in 2017-18 were home loans under Rs 25 lakh category: NHB

Hindustan Times, Delhi | By Moushumi Das Gupta
UPDATED ON JUN 28, 2018 07:54 AM IST
Under PMAY, launched by Prime Minister Narendra Modi in 2015 to provide housing for all by 2022, the Centre provides an interest subsidy on housing loans to the Economically Weaker Section/Low Income group and Middle Income group. The increased numbers point to a revival in the housing sector, clearly showing that the scheme is working, says NHB official.
Seven employees are arrested, and three accomplices of the bank employees are on the run.(Representational photo)
Seven employees are arrested, and three accomplices of the bank employees are on the run.(Representational photo)

Private bank loan fraud: Thane cops recover 1.1 crore from employees

Hindsutan Times | By Arvind Walmiki, Thane
UPDATED ON APR 08, 2018 12:11 AM IST
the accused helped customers get loans illegally for 20-30% commission. they duped the bank of 3.6 crore.
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