Huntington bank refinance mortgage rates

In a surprise move, the Reserve Bank of India (RBI) left policy rates unchanged after the Monetary Policy Committee (MPC) raised concerns on higher inflation but continued with accommodative stance for future easing.While there is room for rate reduction going ahead, RBI Governor Shaktikanta Das said that the cuts need to be timed well for better impact.Meanwhile, the Securities Appellate Tribunal (SAT) asked market regulator SEBI to hear lenders’ concerns and deliver its decision on reversal of pledged shares to Karvy Stock Broking’s clients by December 12.Explained | How Karvy went from broking to brokeWhile lenders are facing chances of huge write-offs due to fraudulent activities of Karvy, it also likely that they skipped a few check-boxes themselves while lending against third party shares.Also, norms for brokers and banks laid down by their respective regulators do not seem to be on the same page.RBI keeps rates unchanged, FY20 growth forecast cut to 5% from 6.1%The … [Read more...] about Banking wrap: RBI maintains status quo, lenders await SEBI’s decision in Karvy case after SAT order

By Festus Ahon DELTA State House of Assembly has passed a resolution approving the request by Governor Ifeanyi Okowa to rectify a promissory note discounting facility of N22.7 billion, issued by the Federal Government to the state. Governor Okowa’s request was contained in a letter to the House read by the Speaker, Mr Sheriff Oborevwori, during plenary. Okowa, in the letter, said over the years, the state government reconstructed, rehabilitated and resurfaced several federal roads amounting to N76.4 billion. He said efforts were being made to recover the expended funds from the Federal Government through the presentation of claims to relevant Senate and House of Representatives committees and hence the Federal Government issued a promissory note in the sum of N22,695,917 to Delta State government. Okowa explained that the promissory note, which represented 30 per cent of the amount spent on federal roads, is scheduled to mature in February 2021, adding that there was an … [Read more...] about Delta Assembly approves N22.7bn promissory note discount from Zenith Bank

New Delhi (Sputnik) — India’s pre-budget presentation document, The Economic Survey 2016-17, tabled on Tuesday by finance minister Arun Jaitley has questioned the methodology adopted by global rating agencies while assigning sovereign ratings to countries. Global rating agency Standard & Poor’s ruling out any ratings upgrade for the country for a considerable period has reportedly irked Prime Minister Narendra Modi’s government whose chief economic adviser Arvind Subramaniam has drafted the Economic Survey document. An annual exercise, the survey is tabled in Indian Parliament a day before the Union budget presentation. It gives a broad outline of the economic situation in the country as well as a roadmap for various sectors along with challenges. The survey in its hard hitting analysis questioned using per capita GDP as a key benchmark to upgrade a country’s … [Read more...] about India’s Pre-Budget Document Questions Western Rating Agencies’ Methodology

The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon. The Reserve Bank of India (RBI) is planning to seek details from ICICI Bank on its Rs 3,200 crore loan exposure to the Videocon group. “The RBI will first ascertain the facts. We can expect some action after that,” said a source close to the development. The finance ministry had said on Monday that it was up to the RBI to take action in the ICICI Bank case. The RBI has a lot of information on Videocon Industries, which it had recommended sending to the National Company Law Tribunal (NCLT) in December last year, said a source.The RBI move follows a Central Bureau of Investigation preliminary enquiry against Deepak Kochhar, husband of ICICI Bank’s managing director & chief executive officer (MD & CEO) Chanda Kochhar, and Videocon Industries’ chairman Venugopal Dhoot regarding a Rs 64 crore loan given by Dhoot to Deepak … [Read more...] about RBI plans to collect information from ICICI Bank on loan to Videocon

Video PlayerClose NEW YORK, Dec. 22 (Xinhua) -- U.S. stocks posted huge weekly loss as investors digested central bank's latest rate hike decision and a batch of economic data. For the week, the Dow shed 6.9 percent, the S&P 500 erased 7.1 percent, and the Nasdaq declined 8.4 percent. The week saw the worst performance for the Dow and the Nasdaq since 2008, and the S&P 500's worst performance since 2011. Friday marked the heaviest day of volume since August of 2011. On the economic front, the U.S. economic growth was revised down to 3.4 percent in the third quarter, slower than previously estimated, said the Commerce Department on Friday. The revisions reflected markdowns to consumer spending and exports. The University of Michigan's consumer-sentiment gauge registered a final December reading of 98.3, higher than the preliminary reading of 97.5. Construction of single-family homes fell to a one and a half year low, pointing to deepening housing market weakness that could … [Read more...] about U.S. stocks post huge weekly loss amid data, Fed decision