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Journalism of Courage
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MUMBAI: Housing Development Finance Corporation (HDFC) has announced further reduction in interest rates for housing loans advances. HDFC had cut the interest rates for the second time this year, with the first one being effected in February last.
For loans up to Rs 2 lakh, HDFC would charge 15.5 %, for loans between Rs 2 lakh and Rs 5 lakh the interest rate will be 16 %, loans between Rs 5 lakh and Rs 10 lakh will attract 16.50 % interest and for loans exceeding Rs 10 lakh, the rate would be 17 %, an HDFC release said.
Silver weak
MUMBAI: Silver prices turned distinctly weak on the bullion market on lower New York advices coupled with poor industrial support and finished with substantial losses. Gold also reacted on lack of seasonal demand. Silver ready .999 fineness declined by Rs 90 and closed at Rs 6840 against Rs 6930 yesterday.
Raw silver .916 fineness also dropped sharply and finished at Rs 6740 compared to Rs 6830 the previous day. Tenderable silver dropped to Rs 6845 from Rs 6935 previously. Standard gold eased by Rs 10 and terminated at Rs 4770 from Rs 4780 the previous day. 22-carat gold was nominally quoted lower at Rs 4410 against Rs 4420 yesterday.
Ten-tola gold bar .999 purity declined by Rs 100 to Rs 55,800.
Shriram Transport
MUMBAI: Shriram Trasport Finance Company Ltd, a part of the Rs 1200 crore Shriram Group is entering the capital market with a Rs 10.50 crore public issue of 18 % fully secured convertible debentures. The FCDs have been rated AAA (SO) by CARE. The FCDs are of Rs 50 each.
