SBI home loan utsav from today

BANGALORE: State Bank of India (SBI) is organizing a threeday event called SBI Utsav at the bank's local head office on St Mark's Road in Bangalore. The second edition of the loan utsav will be flagged off on Friday. The event is powered by the Times Red Cell.

The bank will showcase a bouquet of home loan products . Around 60 real estate developers /builders and auto dealers will participate in the utsav. The bank is offering a 0.25% concession in interest rate from the fourth year of the home loan if it is availed at the SBI Utsav.

Soundara Kumar, chief general manager (Karnataka) of SBI, said the bank was looking to generate a business of Rs 550-600 crore from the threeday event. "We expect the ticket size of home loans to be in the order of Rs 20-25 lakh. IT professionals and people employed with public sector companies will drive the demand for home loans," she said.

Those buying flats in real estate projects for which SBI has extended loans can avail home loans in four days. The Utsav is open from 4pm to 7pm on Friday and 11am to 7pm on Saturday and Sunday.

Read more: SBI home loan utsav from today - The Times of India http://timesofindia.indiatimes.com/business/india-business/SBI-home-loan-utsav-from-today/articleshow/7331369.cms#ixzz1BevacGoX

Sensex opens 80 points lower on profit booking

MUMBAI: The Bombay Stock Exchange benchmark Sensex fell by nearly 80 points in opening trade today due to profit booking by funds amid weak global cues.

The 30-share barometer, which had gained 68.22 points in the previous session, fell by 79.61 points to 18,966.93 points.

The wide-based National Stock Exchange Nifty index also declined by 24.30 points to 5,687.30 points.

Analysts attributed the decline to profit booking by investors amid a weakening trend in other Asian markets.

Japan's Nikkei was trading 0.87 per cent lower, while Hong Kong's Hang Seng index marginally up by 0.05 per cent in early trade.

In the US, the Dow Jones Industrial Average ended 0.02 points lower yesterday.

Read more: Sensex opens 80 points lower on profit booking - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-opens-80-points-lower-on-profit-booking/articleshow/7331671.cms#ixzz1BevRKHqU

Rupee down by 27 paise against dollar

MUMBAI: The rupee fell sharply by 27 paise to 45.80 against the US currency in late morning trade due to strong dollar demand from banks and importers.

Sustained demand for dollar in view of firm US currency in New York mainly affected the rupee value, a dealer said.

The dollar turned higher in New York yesterday, especially against the Japanese yen and British pound, as positive US economic data trumped optimism about Europe and worries that China, now the world's second-largest economy, might be pushed towards tightening monetary policy.

In active trade at the Interbank Foreign Exchange ( Forex) market, the domestic unit opened lower at 45.63/64 a dollar from its previous close of 45.53/54 and dropped further to 45.80 per dollar before quoting at 45.74/75 per dollar at 1030hrs.

It moved in range of 45.63 per dollar and 45.80 per dollar in morning deals.

Meanwhile, crude oil prices were lower in Asian trade today as unexpected gains in US crude inventories placed a dampener on energy demand, analysts said. New York's main contract, light sweet crude for March delivery, fell three cents to USD 89.56 per barrel.

Read more: Rupee down by 27 paise against dollar - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-down-by-27-paise-against-dollar/articleshow/7332062.cms#ixzz1Bev6WEDw