Macro-economic stability will ensure low-cost housing: RBI

Against the backdrop of banks showing reluctance to provide loan to real estate, RBI said it has been following a cautious policy to ensure sustainability and viability of the housing sector.

“Our main focus is to maintain macro-economic stability. If there is

Boost saving deposits, grow retail loans 30%: Govt to banks

The finance ministry asked banks to ramp up their savings deposits growth as this will help the government to improve the country's ratio of savings deposits to GDP. Lenders should also achieve 30% growth in retail loans excluding SME and agriculture, it said at a recent meeting with the bosses of state-owned banks in New Delhi.

Three senior bank officials familiar with the development confirmed it to Moneycontrol.com.

"Domestic savings rate as ratio of gross domestic product (GDP) currently

Rate cut alone can’t spur cheaper loans

A rate cut by the Reserve Bank of India (RBI) next week will not be enough to spur banks to lower lending rates immediately, bankers said on Monday.

Instead, Indian banks, saddled with high-cost, long-term deposits and narrowing profit margins, are hoping for

RBI forbids foreclosure fees on floating rate home loans

The Reserve Bank of Bank (RBI) on Tuesday issued notification to all banks for not charging any foreclosure/prepayment penalties on floating rate home loans. The move brings cheers among home loan borrowers, who can now take advantage of better credit pricing in a perfectly competitive banking industry.

"Though many banks have in the recent