Wednesday, September 4, 2013

REALTY BS; AT contd (Spl. Home Loan)

Sept 8
BL

Missing in inaction

With the Supreme Court monitoring the probe, Coalgate could well morph from a financial scam into a serious political crisis. »

<> Now close on the heels of the 'coal scams’, has come to be lately reported yet another massive scandal, which the UPA government is staring at- rather it is the other way- scandal that is scaring, staring at the government. If the Re 17 ,000 cr. 'fraud' as revealed has come to light as a result of  a 'test audit report by the CAG',  it is bound to send a high-velocity shiver down the spine of the common man were he to think of the magnitude of the fraud had it been subjected to a ‘due diligence’ (full-fledged) audit.
Judging by the ever growing and mounting  discontent among the right thinking section of the nation's populace - the governed, the most disquieting feature of the present legal system, to be precise the governance/administration and enforcement of every one of the numerous laws, has to be conceded  to fall  far short of the standards  and behind their normal expectations/aspirations.
As a great  legal luminary and deep thinker and renowned humanitarian of our times rightly observed, there is an abject overall  ignorance in believing, also driving others to do so, in that most of the actions or inactions of the men in governance are allowed to pass muster  under the guise of ‘public policy’ and ‘policy decisions’. While according to his soulful conviction, if closely analysed, any number of examples could be advanced to convincingly  demonstrate that  , by and large, what is being practiced, as has been our propensity,  can only  be regarded as  sheer  “gestures”, in its true sense, - unfit/inappropriate to be named “policies”.
Sept. 9
TOI

<>Sporadic > Unto HERE one was so impressed as to be impelled to run into the public road outside , shouting 'eureka' and exclaiming on the top of the parched voice - here is a writer who talks sense, and so tempted as to proclaim: - At last, for a change,- "DANIEL HAS COME TO JUDGMENT'. But, Lo ! Totally non-plussed as one starts and finishes reading the concluding para, and, in between lines, the underlying glaringly misconceived optimism, - "Forget growing 17 times in 30 years, we will find it difficult to sustain even modest growth. Either this government does something dra-stic and fundamental to restore confidence, or we have another election as soon as possible so the focus can shift from politics to the economy. Otherwise, the future of an entire generation is at stake. And yes, next time, don’t ignore the slum view while taking in the sea view. >>>>

<><>  Just to dispel any mistaken impression: Reference is to the obviously misplaced or faaolacious belief implied in saying , - "... Either this government does something dra-stic and fundamental to restore confidence, or we have another election as soon as possible so the focus can shift from politics to the economy. Otherwise, ..." Going by decades old practice and discusting lesson repeatedly learnt, either of the two might turn out to be, at best, a non-starter or a pipe-dream to the core.

On Home Loans:


'Loan Melas' of the yore, since realized and so-believed- to- be a thing of the past, - a bad dream, as NAP dubs , is not reflective of any sound 'policy'; at best, a 'gesture'. For more examples of our propensity to practice 'gestures' often mistaken for 'policies', worthwhile- read pgs. 144, 145, 146, 147 in - We, the Nation.


<Upto HERE one was so impressed  as to be impelled to run into the public road outside , shouting 'eureka' and exclaiming on the top of the parched voice - here is a writer who talks sense - almost tempted to proclaim - At last HERE IS  A "DANIEL HAS COME TO JUDGMENT'. But, Lo ! Totally nonplussed as one starts and finishes reading the concluding para beginning - "Forget growing 17 times in 30 years, we will find it difficult to sustain even modest growth. Either this government does something drastic and fundamental to restore confidence, or we have another election as soon as possible so the focus can shift from politics to the economy. Otherwise, the future of an entire generation is at stake. And yes, next time, don’t ignore the slum view while taking in the sea view.>>>>>

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<????!!!!

BS
Sept.9

Now, home buyers hit the streets against builders over non-delivery

DLF says it has started the process of giving possession of housing units at New Town Heights project according to its commitment

Realtors with land banks to gain



Top fund manager adds banks after stress tests


The Rajan rally will not continue


<> Common sense tells, - this is mixed bag of mutually contradicting expectations - pessimism v optimism, short term v long term, in short - good and bad foreboding.
Again, goes to emphasize the irrefutable reality/fact of today's life /scenario (as opposed to half, or less than half,-truth sought to be disseminated, unwittingly or otherwise by some quarters, mainly with 'vested' interests) that,-if Obama sneezes, the rest around the globe are sure to catch ‘COLD’! 

http://in.finance.yahoo.com/news/raghuramrajan/


>>>> Bank global
Richard Beales
Fed has to think global in its local QE unwind
Image1

Not like clockwork
Ian Campbell


Emerging economies need to change to compete
Image1

Taking guard
Andy Mukherjee


Rajan's call to diaspora can't stem rupee rout


BL
Sept 6

Moody’s debt downgrade may not hit affected banks

<> In general, in one's perceptive and unbiassaed view, the subject report is on a vulnerable but intricate matter, on which different views are possible. And it is not a question for any individual, howsoever well-informed he be, to abruptly, not being critical, to ridicule any analysis, of the kind, (e.g. herein,  'downgrading' a 'debt'). For the readers' to understand, a comment on such matters having broader implications for the stakeholders, for or against. must give at least in brief the reasoning. For instance, besides others, any discerning reader will be interested  in knowing whether or not  there is any faulty logic behind the reasons given such as, -         
"...Subordinated debt refers to a loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings..."...It is riskier than unsubordinated debt, as in the event of bankruptcy or default, creditors with subordinated debt are the last to get paid...."
May be, the ' economic experts', truly equipped, could provide useful opinion, in an analytical and convincing manner, so as as to serve the intended purpose of common guidance.

Know-what ?>
http://www.businessdictionary.com/definition/subordinated-debt.html
<<<

Rating risk fears stare at investor community

Food Bill credit negative for India: Moody’s

Economic woes weigh over India’s ratings

Higher subsidy burden will weaken credit quality of oil firms, says Moody’s

Bleeding rupee not to impact rating outlook: Moody’s



BL
The Goods and Services Tax Standing Committee's report has favoured subsuming entry tax, and including petroleum products and alcohol in GST. »


Building a new governance framework


Uphill task for Shome panel

The tax forum can succeed only if some ground rules are adopted by industry and Government. »
<PREVIOUS
BS

Banks to rework home loan math


PF

Advantage home buyers

RBI's move to link loan payment to construction progress is likely to bring down property prices

Read more stories in PF




Xcerpts>

<The RBI has reacted sharply to the fact that a number of banks and housing finance companies are promoting home loan products such as the 80:20 or 75:25 schemes, which involve tripartite agreements involving lenders, developers and property buyers. The basis of this move is that though these schemes do invariably mention the financial implications to the consumer in the fine print, many consumers are evidently unable to decipher the fine print. This move by the RBI is aimed at protecting the interest of property buyers who are not aware of the long-term financial implications of such and similar schemes. It is definitely meant to advance the cause of greater transparency in the Indian real estate sector, and also to protect the financial institutions that provide funding in it.>






RBI defunct the 20:80 schemes loans of builders


Yes, it is an abrupt change - if considered in the context of 'loan melas' *- symbolic or pointer to the beaten path/track hitherto taken by the lending banks, invariably blindfolded !
As nani said, -
The current practice finds referred, repeatedly,  as involving a 'tripartite' 'agreements' - the purport or import is not understood ?  

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