Each nano will cost gujaratis rs60,000?
people keep asking me..by the way of defending modi why nano went to gujarat and not anywhere else... The Narendra Modi government is reported to have offered over Rs. 30,000 crore in sops to Tata Motors to bring its Nano car project to Gujarat. The government has agreed to not only provide a soft loan of Rs. 9,570 crore at a negligible interest of 0.1 per cent for setting up the project but also defer repayment for 20 years, besides initially meeting all the cost of infrastructure development, cut in power tariff rates and an expenditure of Rs. 700 crore on shifting machinery and equipment from Singur in West Bengal to Sanand. While the Chief Minister’s office refused to give details of the October 7 agreement signed between the government and Tata Motors, an official document submitted to the Cabinet for approval was leaked to the media, bringing to light the concessions offered to the company to bring the “prestigious” project to Gujarat. the deferred repayment of loan and various tax concessions would benefit the Tatas to the tune of over Rs 30,000 crore in the next 20 years. Considering that during this period the Tatas would produce about 50 lakh Nano cars at the promised cost of Rs. 1 lakh each, the burden on the exchequer would be Rs. 60,000 for each car rolled out.According to the document, the government has granted exemption even from payment of a stamp duty of Rs. 20 crore for 1,100 acres of land given at a subsidised price of Rs. 400.65 crore, which is to be paid in eight equal instalments at an eight per cent compound interest with a moratorium of two years. There will be no charge for transferring the land from agriculture to non-agricultural purposes and no registration fee. The government will meet the entire infrastructure cost of developing roads, electricity and gas supply as well as providing an additional 100 acres on the outskirts of Ahmedabad to build a township for employees. as ratan tata wisely said.given the selling out"you have to be stupid not to be in gujarat".. do you know now why nano went to gujarat?..cause modi sold out gujarat.. http://www.hinduonnet.com/2008/11/12/sto... http://www.indianexpress.com/news/each-n... gujaratis are good buisnessmen....but this is one hell of a bad deal... what say?
Can anybody answer what does it mean moratorium period (Education loan) : 6 months after getting job?
The concept behind a "moratorium" is for a lender to best match your repayment capability with payments on your loan. So a lender will allow you to defer repayments during the period of time when you are not earning an income. Typically this is one year from the completion of your courses or 6 months from you starting a job - whichever comes first. During this period, the lender is expecting that you build up a cash reserve for when your loan repayments actually do begin. During the "moratorium" interest will be charged on your loan, but on a simple interest basis. Meaning that interest will not be charged on interest; in other words it is NOT compounded. If you decide to begin payments after your moratorium period then this interest will be added to your overall principal and your repayments will be recalculated accordingly. Here is an example of this: Principal: 100,000Rate: 12% / 1% per monthSimple interest for three months: 3,000Compounded interest for three months: 3,030.1Some banks will give you concessions on your rate if you DO pay during the moratorium. So that is something to consider based on your capital. You may even find a loan (although this is rarer) that doesn't charge interest during the moratorium. Compare loan providers to find out.
What is the moratorium period on a home loan?
The customers availing home loan under FlexiPay Home Loan scheme will also be offered the option of paying only interest during the moratorium (pre-EMI) period of 3 to 5 years, and thereafter, pay moderate EMIs,In your case, you are not paying your principal amount for next 3 years, which is why your bank is refusing to provide a pro home loan certificate.Hence, it is advisable to go through your loan agreement carefully and also talk to the bank manager who might be able to help you out. Moreover, you should keep your bank statements ready which would indicate the interest payments made by you.
Why are liberals here glad that American jobs are moving overseas?
Diamond Offshore announced Friday that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters immediately — making it the first to abandon the United States in the wake of the BP oil spill and a ban on deep-water drilling. And the Ocean Endeavor’s exodus probably won’t be the last, according to oil industry officials and Gulf Coast leaders who warn that other companies eager to find work for the now-idled rigs are considering moving them outside the U.S. Devon Energy Corp. had been leasing the Endeavor to drill in the same region of the Gulf as BP’s leaking Macondo well, which has been gushing crude since a lethal blowout April 20. But Diamond announced Friday it will lease the rig through June 30, 2011, to Cairo-based Burullus Gas Co., which plans to send the Endeavor to Egyptian waters immediately. Devon is one of three companies that has cited the deep-water drilling ban in trying to ease out of contracts to lease Diamond rigs. Diamond, a drilling company, said it expects to make about $100 million from the deal, including a $31 million early termination fee it recovered from Devon. http://www.chron.com/disp/story.mpl/business/7101738.html
Which bank is best to take an Education loan in India with minimum interest?
Education Loans can be utilized for various institutions - within or outside India. Most financial institutions who are in the business of education loans, have different features, depending on the utilization of the loan. These can help you differentiate between different lenders.The features and eligibility (how much loan can be given to you) should then be helpful in making a decision about the best Education Loan for you. Here are some features you should consider before you make your choice:The most important feature – Whether the lender has a policy to lend to students attending a certain institution or going for a course to a certain country.Moratorium period – Whether the co-borrower or guarantor needs to service the EMI even before the course is finished or should the student start paying after completion of education. There are some financial institutions who have special waivers (grace period as to when the student shall start paying EMI) in case the student has not secured a job post the course completion.Rate of Interest – Financial institutions have a means of grading different institutions (mainly in terms of what the job prospects are after the course). This grading and categorization changes the interest rates from one lender to another. Moreover, not every lender classifies the same institution in the same category and hence, the same institute has different interest rates.Interest rebate during moratorium – If the interest (not principal) is paid out by the customer during the moratorium period, will there be any discount in the interest rates after the actual course duration.Government grants - If any are available to lower income groups. They can reduce the interest liability of the customer. Check if the lender factor in these grants for the specific institutions or not.PSUs like SBI, Central Bank, IDBI Bank and private lenders like Credila, Avanse are a few of the dominant players in the Education Loan sector.Also note that a lot of education loan cases get sanctioned due to your parent/guardian’s existing relationship with any of the PSU banks – and we strongly suggest you also consider exploring that option.You can visit this page to compare education loans provided by different financial institutions - Education Loan: Apply Online in India, Interest RatesIf you have any other Personal Finance queries, you can follow and tweet out and I'll be happy to answer them for you - Adhil Shetty (@adhilshetty) | Twitter
What would you prefer for studying in Canada: an education loan or your own money?
Out of these two options, I would suggest you to go for the former; an education loan.Nowadays, acquiring an education loan is quite simple and the interest rates and schemes provided by various banks are flexible. Also, paying off the loan won’t be very difficult since banks have long repayment periods along with moratorium period. Moreover, earning in Canadian dollars you will definitely be able to pay back.If you are considering the option for education loan, then I would suggest you to look at Bank of Baroda because of its interest rate,refundable processing fee,moratorium period,third party collateral etc.Interest rate - 10.5% - 11%Refundable Processing Fee of INR 10,000Margin is 10% which means 90% of the expenses are eligible for financing.Moratorium period is course duration and an additional 12 months/ a year For example,if your course is for 2 years,then you can start repaying after 3 years.Bank of Baroda accepts third party collateral which means if you don’t have direct collateral, someone apart from you or your kin can pledge collateral.There is no collateral margin and you are sanctioned a loan amount equivalent to market value of collateral security. For example, if you own a property worth INR 20 lakhs, then you are eligible for availing a loan of INR 20 lakhs.WeMakeScholars helps students acquire an education loan without any hassle by providing constant customer support during the loan process. I recommend you to approach WeMakeScholars team for financial assistance. It is a BITS Pilani startup that works with 28 banks (public banks,private banks and NBFCs).It is supported by Govt. of India. They also communicate with bank officials and process your application on priority-basis. They do not charge a fee for their services.All the best.
Can I force my student loan payments to go towards the principal and not the interest?
When you're taking out a loan, its structure is listed below: first, the interest with small portion going towards the actual principal amount, and gradually transitioning towards paying off the principal amount.This is how lenders make money. Your complaint about it and your wish for them not to make money will not cause them to re-do their business model.You have a couple of things here.You have signed up to make payments, and you can request the breakdown of the interest and principal (amortization schedule) from your lender.If you can, make larger payments towards principal and ask your lender on how to get this done, so to shorten the life of the loan as your principal balance will be reduced at a more aggressive rate.
How can I send money from Venezuela to USA.?
Western Union is outrageously expensive and may charge up to 40 % in total fees. Just walk in to the nearest bank and buy a US dollar money order. It should cost in the order of $ 5.00. Then mail it to your relative. The money order carries a guarantee. If it doesn't reach your friend in a reasonable time, you can bring your copy back to the bank and get your money back. That process usually takes a month, or two, though. An alternative to using the mails is to make a direct bank transfer to your relative's account in USA. Just ask him/her to call the bank and get a "bank transfer number" to his/her bank account. It works as an address for the bank in Venezuela. It usually takes about three days for a bank transfer. The cost is minimal, a few dollars at most. Yes, Venezuela has currency restrictions, but they only apply to large sums, in the order of $ 10,000 or more. Again, don't waste your money on Western Union.
How is Credila for education loans?
Credila is a good option for education loans but take into consideration the following if you are planning to take a loan from an NBFC or private bank:high interest rate (11.5% to 14%)high processing fee,which is a certain percentage of the loan you will takerepayment of interest during your course of study.Public banks are quite trusted and reliable for taking up such loans. Some of the top listed banks are State Bank of India, Punjab National Bank, Bank of Baroda. Public banks havecompetitive interest ratesfixed processing fee (INR 5,000–10,000) andattractive schemes that tend to ease the load of repaying the loan.I would suggest you to take a look at SBI Global Ed-Vantage schemeLow interest rate - 9.5%-10% onlyLow processing fee- INR 10,000/- onlySBI accepts third party collateral which means if you don’t have direct collateral someone apart from you or your kin can pledge collateral. In case you don’t have collateral this can help.Moratorium period is course duration and an additional 6 months.For example,if your course is for 2 years,then you can start repaying after 2.5 years. This eases the anxiety of repaying the interest rate during your studies.No penalty for early repayment and you can repay the loan until 15 years.Margin is only 10% which means 90% of the expenses are eligible for financing. The expenses include almost everything such as admission,tuition,living expenses etc.Faster approval of loan,requirement of utmost 3 bank visits and entitlement to upto INR 10,000/- cashback if you apply online.Good luck!