Thu, Aug 17, 2017 | updated 11:14 PM IST

DHFL reduces home loan lending rates by 50 BPS to 8.60 pct

Updated: Jan 05, 2017 11:44 IST      
DHFL reduces home loan lending rates by 50 BPS to 8.60 pct

New Delhi [India], Jan 5 (ANI): India's leading housing finance company DHFL has announced that it has reduced its home loan lending rates by 50 basis points from 9.10 percent to 8.60 percent effective January 04, 2017.

"Over the past three decades across semi-urban and tier II and III locations, DHFL has committed itself to transforming the quality of lives of people in the low and middle income segment by enabling access to home ownership. The Government's recent decision to provide interest rate relief to home buyers and to those who wish to plan a home in 2017, as well as several past initiatives have created a growth-enabling and conducive environment for the housing finance sector. We will continue to be prompt and responsive to any initiative in the external environment, as we also continue to undertake several internal measures to benefit our customers as part of our commitment to enable access to home ownership for the LMI segment," said CEO DHFL, Harshil Mehta.

"Our vision is to bring credit to the lower segments of society who actually require it. Our focus will be on creating the right products through innovation and customization and reaching out through our large distribution network to the tier II and III locations," added Mehta.

Despite a strong growth in housing loans in the country in the last few decades, India's housing finance sector has remained relatively underpenetrated compared to its peers as evident by its low mortgage-to-GDP ratio (nine percent as on March 2015), compared to its regional peers (17 percent for Thailand, 20 percent for China, 34 percent of Malaysia).

The current low mortgage penetration offers a huge opportunity for the sector to grow which is anticipated to be supported by India's sustainable development cycle, and the socio-economic transformation that has already been set in motion. This together with several supply side initiatives including the Pradhan Mantri Awaas Yojana and the Real Estate (Regulation and Development) Act 2016, and RBI's decision to increase loan-to-value (LTV) ratio are set to enhance transparency and boost confidence of home buyers.

The recent announcement by the Prime Minister to boost mass housing in peripheral areas with attractive interest subventions and increase in the number of homes in rural areas, are tremendously welcome moves particularly for the segment at the bottom of the pyramid, where growth is much needed and potential exists. (ANI)

Vadodara (Gujarat) [India], Aug.17 (ANI-Businesswire India): Phonon.in, a Vadodara-based interaction automation company has taken on this challenge and applied this to simple customer centric applications taking the paradigm of providing information at your fingertips to the next level. Phonon is proud to announce the launch of India's first multi-modal flight bot for the aviation sector.

Full Story >>

Swift action by NDA Govt: A breather for Home-buyers

Updated: Aug 17, 2017 16:18 IST      By: Gaurav Gaur

New Delhi [India], Aug.17 (ANI): Within a week of the admission of the Insolvency petition by the NCLT (National Company Law Tribunal), against Jaypee Infratech limited, the Government of India, Along with IBBI (Insolvency and Bankruptcy Board of India) have proved their resolve in making IBC 2016 (The Insolvency and Bankruptcy Code) an effective, efficacious and equitable remedy, taking care of interests of all the creditors involved.

Full Story >>

New Delhi [India], Aug 17 (ANI): Taxi aggregator Ola has announced the launch of Ola Play, its connected car platform for ridesharing in two new cities, Chennai and Pune.

Full Story >>

New Delhi [India], Aug 17 (ANI): Indus Towers, the country's largest telecom tower company, announced the appointment of Shankar Iyer as the Chief Sales and Marketing Officer (CSMO). With over 24 years of experience in diverse industries, Shankar holds in-depth business understanding of international and domestic telecom and tower industry.

Full Story >>

Foreign tourist arrivals records 7.4 percent growth

Updated: Aug 17, 2017 13:43 IST     

New Delhi [India], August 17 (ANI): A compiled report on monthly estimates of Foreign Tourist Arrivals (FTAs) and FTAs on e-Tourist Visa published by the Ministry of Tourism has highlighted a 7.4 percent surge in the number of FTAs in July 2017, as compared to July last year.

Full Story >>

New Delhi [India], August 17 (ANI): The overwhelming presence of the public sector in India is holding back the economy, noted Ruchir Sharma, Head of Emerging Markets Equity and Chief Global Strategist, Morgan Stanley Investment Management, while delivering a lecture on leadership, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) to commemorate its 90th anniversary this year.

Full Story >>

New Delhi [India], August 17 (ANI-NewsVoir): The movie 'Yeh Hai India' starring Gavie Chahal and Deana Uppal has been making waves all across the globe. The movie had been selected as the official entry at the FOG Film Festival in the United States of America. Yeh Hai India has managed to get tremendous response from the screening. What's more is that the movie also bagged the award for Best Film at the FOG Film Festival.

Full Story >>

New Delhi [India], August 17 (ANI): HDFC Bank on Thursday announced a revision in its savings bank interest rate, effective August 19.

Full Story >>

New Delhi [India], August 17 (ANI): India's national air carrier Air India launched its first non-stop flight, the Dreamliner B-787, to Stockholm, Sweden, from Delhi on Wednesday. With an all-female crew on board,the cockpit was under the control of Capt.Nivedita Bhasin.

Full Story >>

New Delhi [India], August 17 (ANI-BusinessWire India): Travel technology start-up TRAVELSPICE on Thursday announced an increased use of data analytics, machine learning, BOT services and the scalable infrastructure offered by Microsoft Azure to support India's only and rapidly growing e-commerce hotel booking platform.

Full Story >>

New Delhi [India], Aug 16 (ANI-Newsvoir): Kwality Ltd., amongst largest and fastest growing private dairy companies in India, today announced that the Board has considered and approved appointment of MSKA and Associates ('MSKA') as its new statutory auditors for the period FY 2017-18 to FY 2021-22, subject to approval from shareholders in Annual General Meeting proposed to be held in Sep' 2017.

Full Story >>

New Delhi [India], Aug 16 (ANI-NewsVoir): Alliances Galore - The largest offers based Merchant Acquirer in the country and globally has recently completed a milestone of 1,000,000 alliances for its clients.

Full Story >>

New Delhi [India], Aug 16 (ANI-NewsVoir): Shardul Amarchand Mangaldas & Co ('SAM & Co') advised PVR Limited ('PVR') on sale of 100 percent shareholding in the arcade games joint venture company PVR BluO Entertainment ('PVR BluO') to Smaaash Entertainment ('Smaaash') for approximately Rs. 86 crore. PVR owns 51 percent in PVR BluO, while Thailand's Major Cineplex Group owns the rest.

Full Story >>

Home buyers left in lurch: Insolvency and Bankruptcy Code favours financial creditors

Updated: Aug 16, 2017 17:51 IST      By: Gaurav Gaur

New Delhi [India], Aug.16 (ANI): Insolvency and Bankruptcy Code 2016(IBC 2016), has been enacted to reorganise and provide insolvency resolution for corporate entities and partnerships in a time bound manner. The nub of the code is to bring back defaulting companies on road to recovery, to promote entrepreneurship, availability of credit and balance of interests of all stakeholders.

Full Story >>

New Delhi [India], Aug 16 (ANI-BusinessWireIndia): PerkinElmer, Inc., a global leader committed to innovating for a healthier world, today announced PerkinElmer India's opening of a Centre of Excellence at Indian Institute of Science Education and Research (IISER), Pune.

Full Story >>

New Delhi [India], Aug 16 (ANI-BusinessWireIndia): The International Career and College Counseling (IC3) platform invites participation of schools, colleges and universities from India and across the globe. The two-day conference is scheduled for August 30 and 31 at the JW Marriott, Aerocity, New Delhi.

Full Story >>

New Delhi [India], Aug 16 (ANI-NewsVoir): Successful meditation depends completely on the mental state of the meditator. Incense facilitates meditation as it creates a positive visual impact; certain fragrances in the incense impart positive impulses to the brain.

Full Story >>

IRCTC launches international tours for Lanka, Russia

Updated: Aug 16, 2017 16:15 IST     

New Delhi [India], Aug.16 (ANI): The Indian Railway Catering and Tourism Corporation Ltd. (A Govt. of India Enterprise) under Ministry of Railways is one of the biggest e-commerce website across Asia.

Full Story >>

TAB Capital surpasses Rs.101 cr worth loan disbursement

Updated: Aug 16, 2017 13:24 IST     

New Delhi [India], August 16 (ANI): Pune-based Non Banking Financial Company (NBFC) TAB Capital on Wednesday announced crossing an assets under management (AUM) to the extent of Rs. 101 crores, as of July 31, with an aim to reach at a worth of Rs. 500 crores in the next two years.

Full Story >>

New Delhi [India], August 16 (ANI-NewsVoir): The seventh edition of the Harvard Model United Nations India hosted by the Harvard IRC and Worldview Education kicked off with its opening ceremony on the August 12, 2017. With over 1500 delegates attending this year, the biggest conference yet, the delegates have debated on prominent issues such as funding "Sustainable growth in Africa", "Mental health awareness and treatment" and many other issues as well with solutions in the form of a resolution at the closing committee sessions on August 15.

Full Story >>