Sitharaman's BIG announcement: Home, vehicle loans to become cheaper. Here's how
5 years, 4 months ago

Sitharaman's BIG announcement: Home, vehicle loans to become cheaper. Here's how

India TV News  

Finance Minister Nirmala Sitharaman Friday announced a slew of measures to ensure that loans for home, vehicles and consumption goods become cheaper and widely available through banking and non-banking finance companies. Monthly installment for housing, vehicle loans reduced Addressing a press conference, Finance Minister Nirmala Sitharaman Friday said banks will launch repo rate and external benchmark-linked loan products. Further, the finance minister also announced additional liquidity support of Rs 20,000 crore to housing finance companies by the National Housing Bank, thereby increasing the total support to Rs 30,000 crore. Partial credit scheme for purchase of pooled assets Finance Minister Nirmala Sitharaman announced partial credit scheme for purchase of pooled assets of non-banking finance companies and HFCs up to Rs 1 lakh crore to be monitored at the highest level in each bank.

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History of this topic

Home loans may become more affordable and boost the real estate sector, experts say
1 month ago

Home loans may become more affordable and boost the real estate sector, experts say

Hindustan Times  

The Reserve Bank of India's December 2024 monetary policy decision will make home loans cheaper and benefit India's real estate sector, according to several industry experts. The central bank's monetary policy committee decided to keep the repo rate unchanged at 6.5% for the 11th consecutive time, but slashed the cash reserve ratio by 50 basis points, bringing it down to …

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden
1 month ago

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden

Live Mint  

With the Reserve Bank of India keeping its key interest rate unchanged, real estate experts and developers have stressed the need to lower the rate, citing the need to stimulate sluggish sales and ease the growing burden of borrowing costs. “At this point, a rate cut would be more beneficial for consumers," said Shishir Baijal, chairman and managing director of …

Why Nirmala Sitharaman, Piyush Goyal would like RBI to slash interest rates
1 month, 3 weeks ago

Why Nirmala Sitharaman, Piyush Goyal would like RBI to slash interest rates

India Today  

Two senior ministers of the Narendra Modi government have recently underlined the need to lower interest rates to spur growth, bringing into focus a matter that, in the past, sparked heated debates and even led to differences of opinion between the government of the day and the Reserve Bank of India. Both Union finance minister Nirmala Sitharaman and Union commerce …

Banks urged to focus on core business, innovate for higher deposits: FM Sitharaman
5 months ago

Banks urged to focus on core business, innovate for higher deposits: FM Sitharaman

India TV News  

Union Finance Minister Nirmala Sitharaman has called on banks to concentrate on their core business activities, emphasising the importance of innovative products to increase deposits. Call for innovation Sitharaman encouraged banks to develop innovative products to boost deposits, particularly in light of the growing gap between deposits and lending. RBI's stance RBI Governor Shaktikanta Das echoed Sitharaman's concerns, noting that …

Budget 2023: Will FM Sitharaman Make Property Purchase Easier for Homebuyers?
1 year, 11 months ago

Budget 2023: Will FM Sitharaman Make Property Purchase Easier for Homebuyers?

News 18  

The Indian housing sector did reasonably well in 2022. The budget could include increased funding for the Pradhan Mantri Awas Yojana, a government programme that provides affordable housing to the urban and rural poor. Announce tax incentives Under Section 24 of the Income-tax Act of 1961, homebuyers can currently claim an income tax deduction for the interest paid on their …

Nirmala Sitharaman announces new COVID-19 stimulus measures: From Rs 23,220 cr for public health to free 5 lakh tourist visas, key highlights
3 years, 6 months ago

Nirmala Sitharaman announces new COVID-19 stimulus measures: From Rs 23,220 cr for public health to free 5 lakh tourist visas, key highlights

Firstpost  

Nirmala Sitharaman press latest news: conference Key highlights: Today finance minister has announced, From Rs 23,220 cr for public health to free 5 lakh tourist visas, FM announces 8 major relief measures to boost COVID-affected sectors Addressing a press conference on Monday, Union finance minister Nirmala Sitharaman announced a slew of relief measures including an Rs 1.1 lakh crore loan …

Nirmala Sitharaman press meet updates | Finance Minister announces 12 schemes to boost economy
4 years, 1 month ago

Nirmala Sitharaman press meet updates | Finance Minister announces 12 schemes to boost economy

The Hindu  

A day after announcing a scheme to boost manufacturing sector, Finance Minister Nirmala Sitharaman is meeting the press to announce more stimulus. The government on Wednesday approved a Production-Linked Incentive scheme for ten key sectors, including telecom, automobiles and pharmaceuticals, taking the total outlay for such incentives to nearly Rs 2 lakh crore over a five-year period. 3000 crore for …

Govt’s steps will boost consumer spending, demand in economy: PM Modi
4 years, 2 months ago

Govt’s steps will boost consumer spending, demand in economy: PM Modi

Live Mint  

The announcements made by Finance Minister Nirmala Sitharaman on 12 October are "timely moves", which will boost demand in economy, Prime Minister Narendra Modi wrote in a tweet. What Nirmala Sitharaman announced FM Sitharaman today announced measures of ₹73,000 crore to stimulate consumer spending in the economy in an effort to fight the slowdown due to coronavirus pandemic following lockdown. …

Finance Minister announces govt schemes to boost consumer demand
4 years, 3 months ago

Finance Minister announces govt schemes to boost consumer demand

Op India  

Finance Minister Nirmala Sitharaman has announced a slew of measures to stimulate the slowing economy in the wake of coronavirus-induced lockdown. 2nd part of the Modi Govt's plan to boost consumer demand is a one-time restoration of the festival advance for central govt employees through the Special Festival Advance Scheme. LTC cash voucher scheme announced for government employees To spur …

Finance Minister Sitharaman to meet heads of banks, NBFCs on loan recast on Thursday
4 years, 4 months ago

Finance Minister Sitharaman to meet heads of banks, NBFCs on loan recast on Thursday

India TV News  

Finance Minister Nirmala Sitharaman will hold a review meeting with heads of banks and NBFCs on Thursday for smooth and speedy implementation of the one-time debt recast for resolution of COVID-19 related stress in bank loans. Besides assessing the preparedness of banks on the debt recast, sources said, the meeting will also review the progress of various schemes announced under …

FM Sitharaman to meet bankers on loan recast on Thursday
4 years, 4 months ago

FM Sitharaman to meet bankers on loan recast on Thursday

The Hindu  

Ahead of the roll out of one-time debt recast for resolution of COVID-19 related stress in bank loans, Finance Minister Nirmala Sitharaman will hold a review meeting with bankers and heads of non-banking financial companies on September 3 for smooth and speedy implementation of the scheme. “The review will focus on enabling businesses and households to avail of the revival …

Finance Ministry Working with RBI on Need for Loan Restructuring, Says FM Nirmala Sitharaman
4 years, 5 months ago

Finance Ministry Working with RBI on Need for Loan Restructuring, Says FM Nirmala Sitharaman

News 18  

Finance Minister Nirmala Sitharaman on Friday said the government is working with the RBI on need for restructuring of loans to help industry tide over the impact of COVID-19. In principle, the idea that there may be a restructuring required, is well taken," Sitharaman said while addressing Ficci's National Executive Committee Meeting. Sitharaman said the Finance Ministry is working with …

Banks not passing lower interest rate benefits to borrowers, developers: CREDAI tells RBI
4 years, 7 months ago

Banks not passing lower interest rate benefits to borrowers, developers: CREDAI tells RBI

Firstpost  

Realtors’ apex body CREDAI has written a letter to RBI, complaining that banks are not passing lower rate benefits to home loan borrowers and cash-starved developers New Delhi: Realtors’ apex body CREDAI has written a letter to RBI, complaining that banks are not passing lower rate benefits to home loan borrowers and cash-starved developers. The association requested RBI Governor Shaktikanta …

FM wants banks to slash lending rate after RBI’s action
4 years, 7 months ago

FM wants banks to slash lending rate after RBI’s action

The Hindu  

Hours after the Reserve Bank of India reduced interest rates, Finance Minister Nirmala Sitharaman conveyed to public sector banks in no certain terms that the government expected banks to reduce lending rates, which was required to kick start the economy. The Finance Minister met the chief executives of PSBs over video-conferencing in a pre-scheduled meeting to review credit flow to …

Nirmala Sitharaman to meet PSB chiefs tomorrow to discuss loan disbursement; to review interest rate transmission to borrowers
4 years, 7 months ago

Nirmala Sitharaman to meet PSB chiefs tomorrow to discuss loan disbursement; to review interest rate transmission to borrowers

Firstpost  

The deployment of excessive funds by banks under the reverse repo route may also come up for discussion on Friday, sources said. New Delhi: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks on Friday to discuss various issues, including loan disbursement, as part of efforts to revive the economy reeling under the COVID-19 …

Sitharaman presser on 2nd tranche of economic stimulus package | LIVE
4 years, 7 months ago

Sitharaman presser on 2nd tranche of economic stimulus package | LIVE

India TV News  

Finance Minister Nirmala Sitharaman on Thursday addressed the media to give further details on Rs 20 lakh crore economic stimulius package announced by PM Modi during his Tuesday's televised address to the nation. Earlier on Wednesday, Sitharaman laid out details of Modi government's Rs 20 lakh crore economic stimulus package which included Rs 30,000 crore Special Liquidity Scheme for non-banking …

Nirmala Sitharaman's first COVID-19 stimulus sheds moral baggage for morale booster, but fiscal puzzles remain
4 years, 7 months ago

Nirmala Sitharaman's first COVID-19 stimulus sheds moral baggage for morale booster, but fiscal puzzles remain

Firstpost  

There is plenty to celebrate for MSMEs and other entities covered under Nirmala Sitharaman’s first package of details to flesh out Prime Minister Narendra Modi’s Rs 20-lakh-crore stimulus More funds to fuel business. There is plenty to celebrate for small and medium scale businesses and other entities covered under Finance Minister Nirmala Sitharaman’s first package of details to flesh out …

Stimulus package 2.0: Nirmala Sitharaman details govt's plan to put money in people's pockets | Highlights
4 years, 7 months ago

Stimulus package 2.0: Nirmala Sitharaman details govt's plan to put money in people's pockets | Highlights

India Today  

Finance Minister Nirmala Sitharaman on Tuesday shared the partial details about the key stimulus package announced by PM Narendra Modi to revive the economy. "Thes provisions will help real estate industry destress and deliver projects in future," Finance Minister Nirmala SItharaman..@MoHUA_India will advise States/UTs and their Regulatory Authorities to extend the registration and completion date suo-moto by 6 months for …

RBI steps will prevent more NPAs, boost cheaper credit
4 years, 8 months ago

RBI steps will prevent more NPAs, boost cheaper credit

Live Mint  

Covid-19 has altered life as we know it, heralding unprecedented times in every way. In its second press conference since the nationwide lockdown because of the covid-19 outbreak, the Reserve Bank of India on Friday announced additional measures to support the economy and revive growth momentum. These measures announced by the RBI were primarily aimed boosting liquidity, expanding credit flow …

EXPLAINED: Here's how cut in MCLR will impact your home loan EMI
4 years, 11 months ago

EXPLAINED: Here's how cut in MCLR will impact your home loan EMI

India TV News  

5 basis point cut in MCLR by SBI expected to boost realty sector, experts believe. The largest commercial bank SBI today cut its lending rates making home loan and auto loan cheaper by announcing 5 basis point reduction in MCLR. Moreover, the recently announced extension of benefits to both developers and home buyers for affordable housing in the Union Budget …

Opinion | Sitharaman on what the economy needs
5 years, 1 month ago

Opinion | Sitharaman on what the economy needs

Live Mint  

After Prime Minister Narendra Modi assured his government’s backing for bankers to fearlessly extend loans for genuine business needs, finance minister Nirmala Sitharaman has sought to reassure the country of all possible efforts to get the economy going. The finance minister signalled a multi-pronged approach involving higher public expenditure, enhanced direct cash transfers, and smoother credit disbursals, noting that as …

Know How to Get More Benefits from Revised Home Loan Interest Rates
5 years, 1 month ago

Know How to Get More Benefits from Revised Home Loan Interest Rates

India TV News  

As per the fresh rules mandated by the Reserve Bank of India, all financial institutions in India must now link their new home loan prices to a new external benchmark, namely the MCLR. With these fundamental shifts in lending, home loan interest rate is expected to become much cheaper for borrowers in the near future. Implications of Revised Home Loan …

Finance Minister Nirmala Sitharaman rules out quick recovery for economy
5 years, 1 month ago

Finance Minister Nirmala Sitharaman rules out quick recovery for economy

Live Mint  

India’s Finance Minister Nirmala Sitharaman said it was too early to say if the slowdown in the economy had bottomed out. Prime Minister Narendra Modi’s government has unveiled several steps since August to revive economic growth from the weakest pace since 2013. The surprise decision to lower taxes for companies raised concerns about India’s fiscal discipline, with Moody’s Investors Service …

Nirmala Sitharaman hints at more sops for housing sector
5 years, 2 months ago

Nirmala Sitharaman hints at more sops for housing sector

India TV News  

Hinting at a big boost to the realty sector, Finance Minister Nirmala Sitharaman on Tuesday said that the government and the Reserve Bank of India are in the process of resolving the issues faced by the real estate sector. "The government is working together with the RBI to see how best we can tweak the existing norms wherever necessary to …

Half dozen public sector banks cut lending rates by up to 25 bps; home, auto loans to become cheaper
5 years, 2 months ago

Half dozen public sector banks cut lending rates by up to 25 bps; home, auto loans to become cheaper

Firstpost  

New Delhi: About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points following a cut in the key policy repo rate by the RBI last month. In line with the decision of RBI to reduce repo rate by 25 basis points, …

Half a dozen public sector banks cut lending rates by up to 0.25%
5 years, 2 months ago

Half a dozen public sector banks cut lending rates by up to 0.25%

India TV News  

About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points following a cut in the key policy repo rate by the RBI last month. In line with the decision of RBI to reduce repo rate by 25 basis points, the bank …

Nirmala Sitharaman 'clueless' in dealing with economic slowdown, steps to boost economy 'cosmetic': Congress
5 years, 3 months ago

Nirmala Sitharaman 'clueless' in dealing with economic slowdown, steps to boost economy 'cosmetic': Congress

India TV News  

The Congress on Saturday alleged that Finance Minister Nirmala Sitharaman was "clueless" in dealing with the economic slowdown and termed the latest steps announced by her to boost the economy as "cosmetic" and "piecemeal". The Congress' attack came after Sitharaman announced an over Rs 70,000-crore package for export and real estate sectors, including setting up of a stressed asset fund, …

Nirmala Sitharaman unveils package to boost exports, revive housing sector
5 years, 3 months ago

Nirmala Sitharaman unveils package to boost exports, revive housing sector

The Hindu  

Union Finance Minister Nirmala Sitharaman on Saturday announced a third set of government decisions to revive the economy, including a ₹50,000 crore export incentive scheme and a ₹10,000 crore special window to provide last mile funding for unfinished housing projects. “The government, on the lines of the National Investment and Infrastructure Fund, can contribute to the fund while the rest …

Clear signs of revival in industrial production, fixed investment: FM Sitharaman
5 years, 3 months ago

Clear signs of revival in industrial production, fixed investment: FM Sitharaman

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Saturday said there are clear signs of revival of industrial production and fixed investment after economic growth plunged to a six-year low. At a press conference called to announce the third part of the stimulus package for the economy, she said measures are being taken to improve credit outflow from banks. Also, transmission …

Bank mergers aimed at economic growth | Highlights from Nirmala Sitharaman's briefing
5 years, 4 months ago

Bank mergers aimed at economic growth | Highlights from Nirmala Sitharaman's briefing

India TV News  

Finance Minister Nirmala Sitharaman Friday addressed a press conference Friday, wherein she announced the merger of public sector banks. Many of these fugitives we are trying to get back were encouraged during their time, says Sitharaman 04:58 pm: Non-official directors to perform role analogous to independent directors, says Finance Minister 04:57 pm: Bank boards given the flexibility to fix sitting …

Finance Minister Sitharaman gets thumbs up on steps to combat economic slowdown
5 years, 4 months ago

Finance Minister Sitharaman gets thumbs up on steps to combat economic slowdown

India TV News  

Finance Minister Nirmala Sitharaman has got loads of support from the Union Cabinet and her party on the steps announced by her to combat the economic slowdown in the country. Prime Minister Narendra Modi gave a thumbs up to the announcements tweeting: "The measures announced by Finance Minister Nirmala Sitharaman will facilitate ease of doing business, improve demand, make credit …

Nirmala Sitharaman rolls back tax hike on investors, outlines steps to boost sentiment; industry hails move
5 years, 4 months ago

Nirmala Sitharaman rolls back tax hike on investors, outlines steps to boost sentiment; industry hails move

Firstpost  

Finance Minister Nirmala Sitharaman announced the rolling back of recent tax hikes on foreign and domestic equity investors and also the acceleration of a capital infusion of $10 billion into state-run banks, she said late on Friday, in an attempt to boost market sentiment and revive the slowing economy. Our government has kept reform at the top of our agenda, …

10 things to know from Nirmala Sitharaman's BIG push to economy
5 years, 4 months ago

10 things to know from Nirmala Sitharaman's BIG push to economy

India TV News  

The Central government Friday announced a raft of measures to boost economic growth from a five-year low. Finance Minister Nirmala Sitharaman addressed a press conference, where she said the government would withdraw higher taxes on foreign portfolio investors, as announced in the Budget and also withdraw the surcharge on long- and short-term capital gains. Here are 10 major announcements made …

Govt to upfront infuse Rs 70,000-cr capital into public sector banks: Nirmala Sitharaman
5 years, 4 months ago

Govt to upfront infuse Rs 70,000-cr capital into public sector banks: Nirmala Sitharaman

India TV News  

Announcing upfront capital infusion of Rs 70,000 crore into public sector banks, Finance Minister Nirmala Sitharaman Friday said the move is expected to generate additional lending and liquidity in the financial system to the tune of Rs 5 lakh crore. The move is expected to generate additional lending and liquidity in the financial system to the tune of Rs 5 …

Nirmala Sitharaman announces measures to revive economic growth, says more to follow | Highlights
5 years, 4 months ago

Nirmala Sitharaman announces measures to revive economic growth, says more to follow | Highlights

India Today  

In a much-anticipated press conference, Finance Minister Nirmala Sitharaman on Friday announced a slew of measures to revive economic growth. Fresh measures announced to boost auto sector Government goes all out to boost purchase of houses, vehicles and consumption goods; approves additional liquidity to support HFCs by NHB taking the total to Rs 30k crore: Union Minister @nsitharaman #GovtBoostsEconomy pic.twitter.com/fKCETDIdYx …

Why the RBI's repo rate cuts have not (yet) led to cheaper loans
5 years, 4 months ago

Why the RBI's repo rate cuts have not (yet) led to cheaper loans

India Today  

Following a meeting of its Monetary Policy Committee on August 7, the Reserve Bank of India once again cut its repo rate-the rate at which it lends to commercial banks-by an unexpected 35 basis points, rather than the customary 25 basis points. Following the latest rate cut, the cumulative back-to-back reduction in the repo rate this year has been to …

Banks seek time to pass benefits of RBI repo rate cut to borrowers
5 years, 10 months ago

Banks seek time to pass benefits of RBI repo rate cut to borrowers

Live Mint  

Mumbai: Heads of public and private sector banks on Thursday told Reserve Bank of India governor Shaktikanta Das that it will be difficult to pass on the benefits of the repo rate cut to borrowers immediately, but were willing to take it up for discussion at the next asset-liability management committee meeting, two bankers aware of the matter said. All …

SBI cuts interest rate by 5 basis points on home loans up to Rs 30 lakh
5 years, 11 months ago

SBI cuts interest rate by 5 basis points on home loans up to Rs 30 lakh

India TV News  

Within a day of RBI reducing repo rate by 25 basis points, the country’s largest lender State Bank of India Friday announced a cut in interest rates by 5 basis points on its home loans up to Rs 30 lakh. In it sixth bi-monthly monetary policy review announced Thursday, RBI had cut the repo rate by 25 basis points to …

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