Good news for homebuyers! RBI revises upwards housing loan limits under priority sector

Good news for homebuyers! RBI revises upwards housing loan limits under priority sector

Housing loans of up to Rs 35 lakh, for dwellings costing less than Rs 45 lakh, will be treated as priority sector lending (PSL) to give a fillip to the low-cost segment, the Reserve Bank said on Tuesday. PSL loans are relatively cheaper than market interest rate. “With a view to bringing convergence of the […]

Demonetisation: Parliament panel may summon PM Modi if RBI’s reply not satisfactory.

Demonetisation: Parliament panel may summon PM Modi if RBI’s reply not satisfactory.

The Public Accounts Committee (PAC) of Parliament can call Prime Minister Narendra Modi on the issue of demonetisation if it is not satisfied with the answers given by top finance ministry officials and RBI Governor Urjit Patel, to whom a detailed questionnaire has been sent. A PAC meeting on this issue has been called on […]

Demonetisation: RBI restricts withdrawal from Jan Dhan accounts up to Rs 10,000 per month

Demonetisation: RBI restricts withdrawal from Jan Dhan accounts up to Rs 10,000 per month

New Delhi: In a bid to check the misuse of Jan Dhan accounts by black money hoarders, Reserve Bank of India (RBI) has restricted the withdrawal from such accounts to Rs 10,000 per month. Fully KYC-complaint Jan Dhan account holders will be allowed to withdraw Rs 10,000 per month from their account, while limited or […]

RBI unlikely to surprise markets with rate cuts today

New Delhi: After a series of big-ticket reforms announced by the government, the Reserve Bank of India (RBI) is unlikely to surprise the markets on Monday with some easing in policy rates, even though inflation remains stubbornly high. While some analysts say the central bank was not in a position to cut rates given the […]