This message is seriously crap.. Nobody has to hurry ... Why do u mislead people and make them hurry... Please brush up ur knowledge on loans... Floating rates for existing customer is also going to go up .. either ur tenure increases or your EMI... Whether u take loan now or later how does that matter
1. When the inflation is increasing, why can't the government control it adopting other ways? Like ban on few item exports etc., I see only one thing happening, "increase the repo rate" and interest rate.
2. These banks are also not fair? They give step mother treatment for existing customers... they only want new customers? Why RBI (Govt) is not looking into this before increasing repo rate?
RE:Why only one way? aren't there multiple options?
by sony kalloor on Jun 14, 2008 10:53 PM
dont think these are thing govt controlls side effect of high speed growth . Do you know of any one who got a lottery and became and continued to be a millionaire. The same thing happens when a country grows too fsat from small base. There is very excessive money created and when people who got these will spend like spendthrift ! and result Inflation. While those who dint benifit of this growth dnt only dint benifit from the growth but also is now penalised by not able to manage the inflation
RE:Why only one way? aren't there multiple options?
by Khan on Jun 14, 2008 11:19 PM
bete aa ja tu UP/Bihar. Tujhe tere pita(in english father), ke darshan ho jaayenge.
I dont mean to be a religionist. But I think we should adopt Islamic banking system for India. It works fine with Gulf countires. When I first heard of no-interest banking system, I thought it is impractical. But when I learned more about it, I think that is best system. Even India, there are some private organisations who run such banks. Interest banking system is a sin as per Islam. It is just proving to be true with this spiralling inflation rates and the unrest we see today. India has always been open to better ideas and I think our Govt should look into this how practical the system is.
RE:We should have different banking policy
by san df on Jun 15, 2008 05:16 PM
i dunno much abt islamic banking but since u hav said itz no-interest banking system then thrz a chance that the present inflation double or triple. in the case of zero interest then evry1 will borrow money which means more money in the hands of consumers which means rise in demand in all products which means further rise in inflation. the rbi has raised the interest rates to discourage easy credit but in the case of islamic banking it is quite opposite. what has to be done is investment and improvement in agriculture which leads to enough food production available for evry1. this wud atleast lead to fall in food prices.
RE:We should have different banking policy
by amit jain on Jun 12, 2008 07:48 PM
OK, nothing wrong if all banks open Islamic branches. I have seen it in big banks across US and UK such as HSBC, etc. In Pakistan, they practice Islamic banking and the inflation there is too high. This is a big joke that Islamic banking curtails inflation, becoz no banking can control supply and demand of commodities.
RE:We should have different banking policy
by amit jain on Jun 12, 2008 07:52 PM
I support Islamic banking branches for all major banks. Also, Muslims should invest in stock markets through Shariah compliant funds. They should avoid companies which earn interest income or use non halal products such as five star hotels (serving pork, etc.) But, to connect inflation to any system of banking is a big farce.
RE:We should have different banking policy
by amit jain on Jun 12, 2008 07:54 PM
Traditionally, Indian Muslims have not maintained good savings rate. Hence, Islamic banking can ensure that Muslims put more money in banks and ensure future prosperity.
RE:We should have different banking policy
by sony kalloor on Jun 14, 2008 10:56 PM
I think most muslims in India do only black business , where will they then do banking.
ICICI interest rated are THE HIGHEST in India today. Yet, Chanda Kochar is leaving the room open for raising the rates again !!!! Prospective loan seekers will do well to keep away from ICICI
RE:ICICI AND INTEREST RATES
by Sreelekha Nair on Jun 12, 2008 06:59 PM
ICICI chanrges very high ! They are CHORS. None should take homeloan acar loan fm ICICI.
RE:ICICI AND INTEREST RATES
by amit jain on Jun 12, 2008 07:59 PM
ICICI is not an Indian bank, it is an MNC bank majority owned by foreign institutions. It is a blood sucker like HSBC, Citibank, etc. but it gives the feeling of local comfort like SBI. But a leech is a leech, whether born in India or USA.
RE:ICICI AND INTEREST RATES
by vanessa d on Jun 12, 2008 10:23 PM
Even their credit cards have unnecessary fees and surcharges loaded, pls anyone reading this never use or a ICICI credit card, i have different cards frm different banks, but ICICI is the worst bank in all departments
RE:ICICI AND INTEREST RATES
by sony kalloor on Jun 14, 2008 10:58 PM
I too agree . they are the most unetical of Indian banks . that has been the expeience . The only ones tthat can beat them is city bank in this aspect - my experience
If the interest rate on home loan is increased then the loan term will increase not the EMI, so how it will help to decrease the inflation by increasing the EMI? Because when the interest rates are decrease the bank will decrease the loan term and increase when intrest rates rise not the EMI.
Maharashtra government is playing with one old lirrelevant law called ULC that is urban land celing act they have been making fun of all of us by telling they will be removing it so that more land is availbale for housing ..god knows what happend to that..maharashtra government should remove all kinds of resevations on agricultural land with in at least 30 kms of city circumferarnce specially in place like Pune..all agricultural land should be converted in to r zone so the price of flats comes down...but who is there to listen..
RE:dereserve the land for housing
by Anil Variyath on Jun 12, 2008 10:18 PM
let there be no agricultural lands.....only flats....and what would you eat maan ....
