Expectations from the Union Budget 2014-15

The first budget of the Narendra Modi Government is to be unveiled on the 10th of July. There are high expectations from various sectors of the economy that are looking forward to delivery of a promise by Mr. Modi on “Aaache Din”. The economy is passing through high inflation coupled with forecasts of a poor… Continue Reading

EMI at PoS through credit cards gaining momentum

Remember ‘0% EMI’ schemes? Banks made money, manufacturers and merchants exhausted their inventory and consumers spent with gay abandon (for electronic goods and household items) until RBI played the party pooper. Although 0% EMI schemes were discontinued after RBI ban, the importance of the potent combination of ‘convenient credit’ coupled with flexible payment options, was… Continue Reading

Banks must link disbursal of housing loans to construction stages: RBI

Taking serious note of borrower un-friendly home loan schemes introduced by banks in association with developers/builders, RBI has advised banks to refrain from making upfront disbursal of home loans to the builders without linking the disbursal to various construction stages of housing project. These subvention schemes, popularly known as 80:20 or 75:25 schemes, had gathered… Continue Reading