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Now, banks stop giving in-principle loan sanctions on central bank directive. Don’t be surprised if your neighbourhood banker suddenly starts asking more questions before sanctioning your housing loan. Following a Delhi High Court order, the Reserve Bank of India (RBI) recently issued a directive asking banks to check the reasons a ...

Floating interest rates have surged up by three percent and millions of housing loan customers has begun to pay a heavy price. A customer who was paying 7.25 percent for his floating home loans just over a year ago is today forking out as much as 10.25 percent. There is more bad news from the banking industry. "Interest rates are likely to ...