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Although his long-cherished desire of having his own dream home was fulfilled, he was a bit disappointed with the Home Loan. Why? It’s because he was paying a comparatively higher Home Loan EMI which he was finding difficult to afford while managing his monthly spending. He had forgotten to use a handy online tool available free at his lender’s website. Yes, before availing a Home Loan from the lender, he could not know how much EMI will be paid. Since an online Home Loan calculator helps anyone helps any borrower to know his/her exact EMI that he/she would pay after availing the loan, he was unaware of the tool and made the mistake of not knowing an exact EMI value. This made life difficult for Rajashekhara Reddy as he had opted for a shorter tenor that made his EMIs bigger. Had he known this, he would have applied for a longer tenor and smaller EMIs. If you are set to apply for a Home Loan, you should not make a mistake like Rajashekhara Reddy. Always avail a Home ...

Housing Development Finance Corporation (HDFC) on Tuesday said it has exposure of Rs 909 crore in one case referred by the Reserve Bank of India (RBI) for insolvency resolution. The housing finance major did not name the account. In a filing with the BSE, HDFC said the account to which it has the exposure was not a non-performing asset (NPA) as of March 31, 2017. Yet, as a prudent step it had made adequate provision against this exposure. At this stage, it does not have to make additional provision on this exposure for the quarter ended June 2017 (Q1FY18), HDFC said. In June 2017, RBI’s internal advisory committee had identified 12 dud corporate loans for insolvency resolution. These are being referred by banks to the National Company Law Tribunal (NCLT) under the Bankruptcy and Insolvency Code 2016. The total exposure of lenders to these 12 accounts are more than Rs 2 lakh crore. Meanwhile, HDFC assigned loans amounting to Rs 2,458 crore to HDFC Bank in the quarter en...