|Posted by drgorg on January 13, 2010 at 11:20 AM|
लुभावनी दरों वाले आवास ऋणों का अंत शीघ्र..?
There are reposrts that, the special loan rate schemes offered by nationalised and private sector banks are facing criticism from Reserve Bank of India (RBI). Deputy Governor RBI, Usha Thorat said that the teaser rate schemes were a cause for concern.
At some levels it is a worry that loans offered at special rates by banks for a fixed period could turn into bad loans, and this may have caused the comments from the Deputy Governor . Teaser rates or soft loan rates are typically offered for a specific period, which is then replaced by a floating rate.
In a rising interest rate scenario, floating rates are estimated to rise, which could lead to a rise in bad loans.
Bigger banks such as State Bank of India and Bank of India offer home loans at 8% whereas HDFC @ 8.25%. and private sector banks such as ICICI Bank and Axis Bank also offer home loan at lower rates to attract borrowers.
The Concern of RBI is not baseless, CRISIL, the Rating agency has estimated that gross non-performing assets of banks will touch around 5% of advances by 2011, up from 2.3% in March 2008.
As per Bloomberg UTV SBI officials told that it would be difficult to continue with the 8% home loan scheme beyond March if interest rates are hiked in the coming months. With RBI now expressing concerns over possibility of rising non-performing assets, there is a likelihood that most banks will be cautious on aggressive lending to the housing sector.
but by then wouldn't it be too late.? What about the customers who have been lured.to migrate to these banks for getting the lower rates..? Wouldn't they feel duped.? and what about the Banks who lost all those customers.?
What do you think.?
Your views and comments are welcome as always..
Till we meet again..
Take good care of yourself