Wednesday, April 28, 2010

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consolidation loan 913.72 550000 823000
refinance loan 890.18 301000 450000
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home loans 742.12 1500000 5000000
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debt consolidation loan 656.07 165000 301000
private loan 652.96 165000 201000
equity loans 651.77 201000 1830000
mortgage loan 650.23 1220000 3350000
student loan 630.41 1830000 2240000
debt loan 622.8 301000 450000
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mortgages loan 608.61 22200 18100
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student loans 522.9 1830000 1830000
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mortgage loans 453.81 450000 2240000
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bad credit loan 426.64 673000 1000000
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Sunday, October 11, 2009

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Monday, September 7, 2009

IIFCL to sign $700 mn loan agreement with ADB

India Infrastructure Finance Company Ltd (IIFCL) is said to sign a loan agreement of $ 700 million with the Asian Development Bank next month while the agreement of $ 1.2 billion with World Bank has already been signed. Moreover, it is said that another 184 million Euros was also on its way from another multilateral agency. Further, foreign loan, IIFCL will raise another Rs 3,000 crore from bonds or loans from Indian banks in the domestic market during the year.

Additionally, the 2009-10 targets was Rs 10,500-11,000 crore and they have already raised Rs 1,000 crore so far in the year and hopes another Rs 10,000 crore raised from bonds would be utilized as refinance to banks. However, until now Rs 6,300 crore had been disbursed in the present financial year while IIFCL has so far sanctioned 111 infrastructure projects of which financial closure of 103 projects had been achieved whereas the total exposure of IIFCL is Rs 19,000 crore.

Monday, August 24, 2009

Interest rates to rise in Q4 of 2009-10: IDBI Gilts Date

IDBI Gilts stated that as bond yields may go up and RBI may tighten money supply to rein in inflation, interest rates are likely to rise in the last quarter of this fiscal by up to 50 basis points, which is likely to be fuelled as food prices could move upwards. Additionally, it said that there has not been fundamental change in the economy and in spite of that, the yields on the government papers have hardened due to the government''s high borrowing target in the current fiscal in the range of 30-55 bps in the last one-and-half months and if this is the trend, then interest rate will rise by 25-50 bps from December to March.

However, it said that the government''s borrowing target stands at Rs 4.51 lakh crore for 2009-10, with 66% of the borrowing in the first six months and added that in case of failure of agriculture due to drought-like situation in the country food prices would rise, which could lead to inflationary pressures in the coming months.

Moreover, the RBI might tighten its monetary policy and thus the banks will have to respond by raising interest rates and this would be reversal of RBI''s soft money supply policy since global financial crisis deepened in the middle of September 2008.

Fortis MF Announces Change in Flexi Debt Fund - Regular Plan A

Fortis Mutual Fund has announced that no fresh subscriptions/switch-in shall be permitted under Fortis Flexi Debt Fund - Regular Plan A effective from August 24, 2009.

Three more US banks fail, tally hits 81 for ''09

In the second-largest US bank failure this year, US regulators shut down Guaranty Bank, a lender felled by losses on loans to homebuilders and borrowers. However, it is said that Guaranty''s failure, along with those of three banks in Georgia and Alabama bringing to 81 the number of US bank failures in 2009.

Additionally, the Federal Deposit Insurance Corp. detained Guaranty Bank, with about $13 billion in assets and $12 billion in deposits while it sold all of its deposits and $12 billion of the assets to BBVA Compass, the US division of Banco Bilbao Vizcaya Argentaria SA. In addition, the FDIC agreed to share losses with BBVA on about $11 billion of Guaranty Bank''s assets.

Moreover, the crumple of Guaranty Bank, whose parent company was Guaranty Financial Group Inc., was the 10th-largest bank failure in US history and is expected to cost the deposit insurance fund an estimated $3 billion while the bank with 162 branches in Texas and California, also suffered losses on mortgage-linked securities it bought from other banks.