Tag: RBI

Housing FinanceLatest Stories

Capital India Finance Wins RBI Nod to Sell Housing Finance Unit

Representative Image NEW DELHI: Capital India Home Loans (CIHL), the key subsidiary of Capital India Finance (CIFL), a non-banking financial company (NBFC), has secured the Reserve Bank of India’s (RBI) approval for its acquisition and change in control by Weaver Services. The transaction is valued at ₹267 crore for 100% equity shares of CIHL. In October 2024, the decision was made to divest its entire stake in the company’s main subsidiary. Subsequently, CIHL submitted an application to the RBI for approval regarding Weaver Services’ acquisition and control change. “Capital India Finance is currently undergoing strategic consolidation, focusing on strengthening its…

Housing FinanceLatest Stories

Bank of Maharashtra Cuts Retail Loan Rates by Up to 50 Bps

NEW DELHI: The Bank of Maharashtra, a state-owned institution, announced on Thursday that it has cut its interest rates by up to 50 basis points on retail loans including home, car, education, and other loans linked to the Repo Linked Lending Rate. This reduction aligns with the RBI’s recent rate moderation and is effective from June 10. With this cut, the starting interest rate for home loans is now 7.35 percent, while car loans begin at 7.7 percent, marking some of the lowest rates in the banking sector, according to a statement from BoM. The bank emphasized that this rate…