State Bank of India (SBI) much-debated teaser home loan rates may see a hike in rates by May, when the next financial policy review would be announced by the Reserve Bank of India (RBI). But unless there is a hike in rates during the review, SBI will retain the teaser home loan rates, said a senior official with the bank. The RBI had in the past expressed its reservation on the teaser rates offered by SBI, on the grounds that such aggressive rates would push up housing prices. The teaser home loan rates, or special rates as the bank’s chairman Mr OP Bhatt prefers calling it, was a mixture of fixed and floating interest rates where the customers were charged 8.75 per cent in the first year, 9.50 per cent in the second and third years and the prevailing floating rates from the fourth year onwards. March 28th 2011, Indian Realty News
Thursday, March 31, 2011
Real Estate Prices in Mumbai Will Fall Soon
Real Estate prices in Mumbai are set to decline further in overheated markets as transactions have fallen due to high-prices. Developers, who were so far holding on to their prices, have started offering discounts to woo buyers to mobilize fund inflows through sales as money flow from other channels have dried up. Residential property prices in Mumbai, the most expensive market in India, have already seen a correction of 20 per cent from the peak level and it is expected to decline further in the range of 15 to 25 per cent.
March 28th 2011, Indian Realty News
March 28th 2011, Indian Realty News
Tuesday, March 29, 2011
India Pakistan semi final: India Inc pads up to let employees enjoy
NEW DELHI: Work will take a backseat at India Inc when the cricketing world's arch-rivals India and Pakistan face-off in the World Cup semi-final at Mohali on Wednesday.
While some companies are considering half- or full-day leave for employees on the day of the match, others have installed TV screens across office premises or made arrangements for special screening of the match to ensure employees get the pulse of the cricketing ties between the two nations that have fought three wars since independence.FMCG company Dabur India is weighing an "off" on Wednesday. "The only constraint is that it is yearend closing, so work pressure is quite high at the moment," said Dabur India executive director A Sudhakar.
The company had declared a holiday on the day of the T20 final between India and Pakistan in 2007.
Food and beverages major PepsiCo India may allow half-day leave for employees if it doesn't impact the organisation's functioning, said Samik Basu, vice-president (HR) and chief people officer for India Region.
Some firms are also looking into work-from-home facility for that day. "If employees want to work from home or leave early to be able to watch the match, we are open to that," said Ashish Kumar, chief HR officer at multiplex chain operator PVR Ltd, which is screening the match at some of its multiplexes. The firm is also considering an exclusive screening for its employees.
Employees of the Future Group's Big Bazaar, the country's largest hypermarket retail chain, will be free to watch the match on large screens installed in stores, said its president, Rajan Malhotra.
"The idea is to let employees enjoy the match while at work, because they tend to take leave during such crucial matches," said S Varadarajan, executive vice-president (HR) at BPO firm Quatrro.
The company has in-house contests surrounding the World Cup to give employees a sense of involvement in the sporting event. Salil Kapoor, COO of the country's largest DTH service company Dish TV, said, "We would have special screening of the match in high definition feed for our employees in office and have also tied up with some pubs and clubs with special discounts for our employees."
Source:- Economics Times
Monday, March 28, 2011
Drinking and Driving...........A Touching Poem......
Drinking and Driving is a very serious offence yet the seriouness of this crime is never experienced unless you are the unfortunate victim..LETS ALL JOIN TO FIGHT AGAINST THIS WORLDWIDE MENACE.
This is such a beautiful poem which really touched my heart. Whoever wrote it, I really appreciate his efforts to convey the message behind this poem.
A Touching Poem...... I went to a party Mom,I remembered what you said.
You told me not to drink, Mom,
So I drank soda instead. I really felt proud inside, Mom,
The way you said I would.
I didn't drink and drive, Mom,
Even though the others said I should. I know I did the right thing, Mom,
I know you are always right.
Now the party is finally ending, Mom,
As everyone is driving out of sight. As I got into my car, Mom,
I knew I'd get home in one piece.
Because of the way you raised me,
So responsible and sweet.. I started to drive away, Mom,
But as I pulled out into the road,
The other car didn't see me, Mom,
And hit me like a load. As I lay there on the pavement, Mom,
I hear the policeman say,
"The other guy is drunk," Mom,
And now I'm the one who will pay. I'm lying here dying, Mom....
I wish you'd get here soon.
How could this happen to me, Mom?
My life just burst like a balloon.. There is blood all around me, Mom,
And most of it is mine.
I hear the medic say, Mom,
I'll die in a short time. I just wanted to tell you, Mom,
I swear I didn't drink.
It was the others, Mom.
The others didn't think. He was probably at the same party as I.
The only difference is, he drank
And I will die. Why do people drink, Mom?
It can ruin your whole life.
I'm feeling sharp pains now.
Pains just like a knife. The guy who hit me is walking, Mom,
And I don't think it's fair.
I'm lying here dying
And all he can do is stare. Tell my brother not to cry, Mom.
Tell Daddy to be brave.
And when I go to heaven, Mom,
Put "GOOD BOY " on my grave. Someone should have told him, Mom,
Not to drink and drive.
If only they had told him, Mom,
I would still be alive. My breath is getting shorter, Mom.
I'm becoming very scared.
Please don't cry for me, Mom.
When I needed you, you were always there. I have one last question, Mom.
Before I say good bye.
I didn't drink and drive,
So why am I the one to die?
Someone took the effort to write this poem. So please, forward this
to as many people as you can. And see if we can get a chain going
around the world that will make people understand that don't mix drinking and driving. PLEASE DO THE FAVOUR !!!! DRIVE SAFELY. PUT ON SEAT BELT (EVEN THOUGH DISTANCE IS SMALL). FOLLOW TRAFFIC RULES.
Saturday, March 19, 2011
What if Gabbar joins Face Book !!!
| To all facebook fans that I know J
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Friday, March 18, 2011
Home, auto loans set to get costlier as RBI hikes key rates
If you were eyeing that dream house or a swanky set of wheels, prepare to shell out a little more. Home loans, auto loans and loans to businesses are set to get expensive with the Reserve Bank of India increasing its key policy rates by 25 basis points on Thursday. However, most banks are unlikely to increase rates before April-end and they may also not hike fixed deposit rates given the improvement in their funds position. This increase, the eighth in the last 12 months, takes the repo (rate at which it lends to banks against securities) to 6.75% and reverse repo (the rate at which banks place surplus funds with RBI) to 5%. Since banks borrow from RBI on a daily basis, any increase in the repo rate will increase the cost of funds for banks, forcing them to lend at higher rates. Soon after the policy decisions were announced, State Bank of India (SBI), the country's largest lender, said the higher rates "will have to be passed on to customers," signaling a higher rate regime. So, if the quarter percentage point hike is passed on to home loan borrowers it would result in monthly installments going up by Rs 153 for a 15-year Rs 10 lakh home loan. If it is any solace for the borrowers, most lenders say that they are likely to wait until April and review credit demand in the new fiscal before raising rates. The present rate hike is unlikely to benefit savers as banks say that deposit rates have already touched a peak and given the decent inflows into fixed deposit schemes and improvement in liquidity banks are unlikely to raise deposit rates. On a policy level, this may also not be the end of the road as far as RBI's rate hikes are concerned with the central bank not making any mention of when inflation-the main target of its rate hikes-is expected to moderate. In its third quarter review, RBI had projected WPI inflation for March 2011 at 7%. RBI also raised March-end inflation forecast to 8% from 7% earlier, leaving GDP growth forecast unchanged at 8.5%. But even if banks do not raise interest rates in the next two weeks there is a strong likelihood that they may be nudged into doing so by RBI in its monetary policy for the first quarter of FY 2011-12. According to analysts , inflation concerns far overshadow fears that growth will be hit. "We have no plans to increase our rates now. I believe that most lenders will wait until April before taking a decision on their lending rates," said Keki Mistry, vice chairman and CEO, HDFC. "Historically, interest rates peak in March because this is the month when 40% of tax payments for the year go out of the banking system. It is also the time when credit demand picks up." He added that while demand for funds eased in April, interest rate movement would be determined by whether crude oil prices ease. "Not only is the rate hiking cycle in 2011-12 now likely to be more extended than initially anticipated but is also likely to be far more front-loaded. We expect inflation to print in at 8.1% in March 2011 and move higher close to 9% by August 2011. We see the RBI hiking its repo and reverse repo by another 25 bps in its annual review in May and this is likely to be followed by 50-75 bps of rate increases through the fiscal year," said Abheek Barua, chief economist, HDFC BANK .
Source:- Economics Times
THE SEVEN DANGEROUS ACTS : after meals
| 7 ACTIONS BELOW |
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The reviews expressed in this email message are the personal opinions of the author and do not necessarily represent those of the company. The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments. WARNING: Computer viruses can be transmitted via email. The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. .......................................................................................................................................................................................................................
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