RBI’s Challenge in Choosing Raghuram Rajan’s Successor.

“I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016,” RBI Governor Raghuram Rajan said in a message to the RBI staff.

While his decision to quit came as a surprise to many, the government feels appointing an economist will send a strong signal to the international community and address concerns over the RBI’s monetary policy independence.

Rajan’s Achievements :

raghuram rajan rbi _loanyantra.com

In the two years of his term, Rajan has garnered immense popularity as a central banker, especially for his strong determination and strict policies of fighting inflation.

  • In his first speech as RBI governor, Rajan promised banking reforms and eased curbs on foreign banking, following which Sensex rose by 333 points or 1.83%. After his first day at office, the rupee rose 2.1% against the dollar.
  • Under him, the RBI adopted consumer price index (CPI) as the key indicator of inflation, which is the global norm, despite the government recommending otherwise.
  • India’s forex reserve is now stronger by about 30% than it was two years back.
  • Under Rajan, two universal banks have been licensed and eleven payment banks have been given the nod. This gave way to extend banking services to the nearly two-thirds of the population who were deprived of banking facilities.

Selection Challenges : 

Clearly, Modi cannot afford to settle for a low-profile RBI governor after Rajan. The prime minister will have to find someone who could bridge the trust deficit of international investors in the India story, which is what Rajan did.

Rajan has set very high benchmark for his successor and the responsibility to follow up on a few, politically sensitive high-risk calls. His successor will be watched for his/ her ability to continue with the reform-process in 3 areas after he took over as RBI governor —

  1. monetary policy,rbi challenges_loanyantra.com
  2. banking structure overhaul and
  3. the bad loan clean-up exercise.

A successor  is expected to be announced next month to end speculation and also give the person time to prepare for the new job. The decision will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.

In the RBI’s 81-year history, never once has a governor selection process attracted so much attention for political reasons. Hence, the new RBI chief will command global attention from the Day 1.

Real Estate Bill – A Bird’s View.

The Real Estate Regulation Act, which comes to effect from May this year, promises to secure the interests of home buyers and expunge corruption and inefficiency from the sector.

An industry estimate suggests that about 10 lakh buyers invest every year in a house. According to Union Ministry of Housing, a total of 76,044 companies are involved in the real estate sector. It is estimated to contribute about 9 per cent of GDP.

Real estate bill 2016 _ loanyantra.com

As a house buyer, these are the seven things you need to know about real estate bill

1 The Bill provides for mandatory registration of all projects with the Real Estate Regulatory Authority in each State. Real estate agents who intend to sell any plot, apartment or building should also register themselves with this authority.
2 It makes mandatory the disclosure of all information for registered projects like details of promoters, layout plan, land status, schedule of execution and status of various approvals.
3 It seeks to enforce the contract between the developer and buyer and act as a fast track mechanism to settle disputes.
4 Fifty per cent of the buyers’ investment has to be deposited into an escrow account that would be used only for the construction of that project.
5 The Bill prohibits a developer from changing the plan in a project unless two-thirds of the allottees have agreed for such a change.
6 Builders would be responsible for fixing structural defects for five years after transferring the property to a buyer.
7 In case builders still cause delays in transferring properties to buyers, the appellate tribunals would intervene and slap fines on them within 60 days.


Whether a return should be filed or not depends on your income level. When total income is within the minimum exemption limit, it’s not compulsory to file a tax return. The minimum exemption limit is INR 2.5 lakh if you are less than 60 years old. For those who between 60 and 80 years of age, income is exempt up to INR 3 lakh. And for those who are 80 years and above INR 5 lakh is the exemption.

It may come as a surprise that return filing may be mandatory or beneficial in some circumstances where you do not have taxable income. Let’s understand in detail.


Return filing is mandatory if you are resident as per income tax act and own foreign assets Or where you have financial interest in an entity located outside India or have a foreign bank account. This applies even though you have less than taxable income or no income at all. Non-reporting of foreign assets has attracted a lot of attention from the tax department. Penal provisions apply if your status is resident and you do not report them. You must file a return and report all your foreign holdings.



Sale purchase of equity shares result in capital gains. Many a times retired individuals or housewives trade in equity shares but do not report their gains or losses. Not that it is mandatory to do so when your total income is below exemption limit. But if you have short term capital losses, you can adjust them against capital gains. And in case losses are not fully adjusted they can be carried forward for 8 years and adjusted against capital gains in future. These losses can be carried forward by submitting your tax return for the year to which they belong.


The only way to claim a refund of taxes is by filing an income tax return. This applies to NRIs who have less than taxable income but is subject to TDS on rent payments. Or where, you could not submit Form 15G/Form 15H timely and TDS were deducted. Tax is already deposited by way of TDS, and the deductor cannot refund this TDS to you. It can only be claimed by filing a tax return. All returns seeking a refund must compulsorily be filed online.


We know that the minimum exemption limit is INR 2.5 lakh. But is this limit before or after allowing deductions? If you are claiming any deductions under section 80, those must be claimed through a tax return. So, INR 2.5 lakh exemption is the gross income level. If your income before deductions is more than this limit, you should file a tax return and claim deductions in the return. This applies even if there is no tax payable.


Sometimes, we earn a large income which is exempt from tax such as commuted pension or tax-free gratuity or long-term capital gains from shares and we do not file a tax return or do not report them.


The government tracks investments and expenses of PAN holders via AIR submitted by banks and financial institutions. Explaining the source of a large investment or expense made via exempt income, may be easier when such income is reported in your tax return.


The most trusted indicator of your earnings is your tax return. Visa authorities’ may ask for copies of your return. Lenders also request for tax return copies as proof of your income capacity. Sometimes, tax returns also have to be submitted for applying for a credit card. So even though, you may have less than taxable income you can benefit by filing your returns regularly.

Disclaimer: These are few of the important reasons to file your income tax return even when you don’t have taxable income. Expert advice and user discretion is recommended prior to application of the contents of this document to specific situations.

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Online Market Place for Home Loan Eligibility Test

In the last century, the invention and introduction of the computer and the internet services have paved the way for various new business ideas and services, which were not even uttered before in the history of mankind. Immediately after these inventions came into the scene, the mobile phones and tablets, which not only helped in revolutionizing the communication systems also gave births to several scopes in the business segment and one of these is the online marketing. The impact of these innovations and applications has been so useful that the online marketing has already earned the accolade of being the most vital issue in present day business transactions. This has also touched the banking industry in a great way and now the entire banking facilities can be availed on the laptop or even through the smartphones, sitting in the own living room.

Home Loan Eligibility

It is well-known fact that the loan division, especially the home loan, is one of the most important revenue-earning options for any bank or financial institutions, which offer structured financial support for the eligible customer in buying of any new property or in the balance transferring of any existing loan. Nowadays, a person can easily avail all these services through the online home loan marketplace, where a wide range of offers, from various banks and financial institutions, can be seen and selected.

Eligibility Issue for Home Loan

Any person, whoever wants to buy a home as a lifetime asset or potential investment, may require financial support to fulfill the dream, and banks are there to provide necessary support on the basis of the eligibility of that concerned person. The online home loan marketplace offers the important service, through a well-structured online tool, where the intended individual can check the eligibility on his own by just following the instructions given on the website. It could have been noted that the eligibility and the quantum of the loan amount are decided on the basis of eligibility of the concerned personnel ant it varies from person to person. Three major types of categories are there in considering a loan proposal: salaried, self-employed and professional individual and the lending authority takes a look into the financial and social credential of the applicant and then finalizes the loan and the amount.

Eligibility Test

The online marketplace for the home loan is the most helpful and perfect place for an individual to check the eligibility, before making the formal appeal to any specific bank for the home loan. It is quite an easy process; one has to enter the website of the online site and opt for the test, where some relevant information of the intended person has to be provided, which will automatically show the result of the test instantly. If prima facie the person qualifies for the loan then a number of offers, from different banks, will be presented before the person for the selection of the right instrument, which may be deemed to be fit according to the financial status of the concerned individual.

Inventive, Trustworthy Online Marketplace For New Or Existing Home Loan With Flexible Interest Rates

In the current financial structure, one can find lots of banks and financial institutions, who are offering versatile home loan packages for the ready to occupy house or for an old apartment or for refinancing of an old residential property, which is a great help for any potential buyer to get the proper support in clinching the financial issues. Even in the last century, it was not so popular issue in the business plan of any bank, but in this new millennium, the home loan or any such loan from the bank is a very common matter, which is already a business of billions of dollars.

Home loan interest rates

In the initial years, the client used to visit the bank to meet the concerned person there to discuss the details of the home loan and its eligibility issues, along with the rate of interests, repayment period, mode of payment, EMI calculation etc., which are vital and inseparable part of any home loan. But nowadays, while there is a stiff competition prevailing between the banks and home financing agencies or institutions, all these institutions are quite aggressive in their hunt for newer customer base and prefer to visit the client’s place with an aspiration to wrap up the business.

Online Marketplace

Since the invention of the computer and the internet, an immense opportunity has opened up in front of the society in getting all relevant information and support just by clicking the mouse or surfing the network of the web-world. Any person, who wants to have a fresh home loan or intends to have a balance transfer of any existing loan, can take the advantage of the online quotes and eligibility tests in an online home loan marketplace, which would be time saving, as well as, trustworthy enough in providing realistic information and quotations from various financial institutions. The gamut of service of these online marketplaces for home loans is so vast that anyone can get the most updated information regarding the latest interest rates trends and flexibility of the banks in their structuring of the interest and repayment schedule, which helps the customer to get a decision in balance transferring of any existing loan.

We are living in the era of specialization and it appears that almost every single issue in our society and daily life and the banking service, especially the home loan, is not an exception in this regard. It is true that every bank is having their own set of packages or offers for the home loan, but they are not adverse to provide customized support for their valued clientele, with flexible interest rates and other relevant issues. All these offers from various banks can be authentically and easily found in the online home loan marketplace, even if the property is yet to be finalized. The immense popularity of the aforementioned online marketplaces has already proved their potential in providing trustworthy support on all relevant issues of the home loan, which not only helps the individual but the institutions to a great extent.

Comprehensive And End-to-End Online Home Loan Process

It’s a “digital” world now, where one cannot even think about a day or an issue, without the touch of the computer technology, in getting a job done with comfort and ease. The technological advancement has gifted the computer and the internet to the human society and these are now almost becoming the mandatory parts of our daily life, as well, as in other sectors, especially in the industry, business and service sectors. This has paved the way for the next big introduction of digital technology through the mobile phones and tablets, which has not only revolutionized the communication system but also introduced the online marketing option, which is an enormous business proposition in present day and already has got a huge response from the various sections of the society. The banks and financial institutions have taken this opportunity and are trying this technological advancement in their day to day operations and also in specific business purposes; one of these is the online marketplace for home loans.

End-to- end Online Home Loan

The Service Profile

The home loan is considered as the most vital instrument of any bank or financial institution because it helps in mobilizing a good amount of business and financial transaction, which is the principal intention of the banking business. Whereas the bank is depending on the home loan division in such a way that they usually make their executives visit the potential clients to acquire the business and in this regard now the online marketing system is of great help for these organizations.

The online home loan marketplace provides almost all sorts of information regarding the home loan that is helpful for the intending client to formulate an idea about the finer points of the loan proposals and various packages. At any of these online home loan marketplaces; one can have the pleasure to obtain information of different banks and financial institutions, which help the individual customer to make his mind in selecting the most lucrative and appropriate offer. These marketplaces are not only providing the general information, but also provide other special terms & conditions of the bank, such as; the rates of interests, calculations of EMIs, probable tenure of the loan, balance transfer facility, penalty, payment terms, foreclosure of the loan etc., which are the most vital ingredients of any home loan proposal.


An individual, who wants to buy a new home or an older property and needs to have a financial support, in the form of a home loan; the online marketplace is the best option, where almost the end to end service of any loan is being offered. The customized support, according to the requirements of the client, is the most valuable and supportive service of these online home loan marketplaces because they provide almost the turnkey assistance in getting the intended loan from a specific bank. The most important part of this service is that one can avail the entire range of the services, just by entering into the website of any of these online home loan marketplaces, without even stepping out of his comfort zone.

Issues With Respect To Online Home Loan Marketer

In this world, everybody wants to have a little home of his own and puts the best effort to get the same at any cost. The majority of the potential buyers are finding it very difficult to have the chosen property, mostly due to lack of financial ability, therefore; they need to get a support for translating their specific dreams into sheer reality. While in the earlier days; people used to take monetary assistance from private money lenders or were dependent on family, friends or well-wishers, nowadays, there are lots of commercial banks, who provide financial support at a very low interest and on lucrative terms. To some extent, various kinds of loans, including the home loan, are considered as one of the most important parts of the business of banks and financial institutions, which helps them in investing the deposited money as loans, to get a good return on the said investment.

Online Home Loan Marketer (1)

Home Loan & Online Facilities

Home loan is the most useful financial instrument of a bank or financial institution, which paved the way for a massive development in the realty sector almost all over the world and created lots of new jobs and business opportunities. The demands of the homes and apartments or commercial spaces have taken a great leap forward; courtesy: customized home loan availability from the banking institutions, which was not the scenario even three decades ago. The tough competition and pressure of the economy have compelled the bank to reach out to their potential customer, which has been effectively done by the loan executives of the respective organization.

It can be noted that these days, the online facilities are taking a vital role in propagating and clinching of home loan business to a great extent. The great introduction of the computer and the internet technology has opened up the gigantic scopes in almost all sectors, such as; industry, agriculture, education, trading, service sectors etc., which are all an important part of our society. Immediately after the computer, there came the mobile phones and tablets and with these gadgets and support; the online business has taken the center stage of business development, especially in the banking sector.

Issues of Online Home Loans

There are lots of online marketplace of home loans, which normally provide information and sell various kinds of loan packages of different banks and institutions, which is a great support for the intending customer in getting all sorts of information and checklists about the home loans. While these online marketers provide information about the finer points of the home loans; they help their visitors to check their respective eligibility test, before applying for the loan. One, who is not quite happy with an existing loan of a specific bank and wants to have balance transfer of that rest loan amount; the online home loan marketplace is the best provision. Here the concerned person can get the chance of comparing the rates of interests and other terms & conditions of various banks, which is helpful in taking the right and intended decision.

Pointers for Purchasing Land

Investment in land is generally believed to fetch higher returns as compared to other forms of investment, however, one has to be very careful in land dealings.

Here’s a legal check list to follow, prior to the purchase of land, in India:

∙ Check preceding parental documents for last 30 years to ascertain the correct flow of title.

∙ Verify original title deed documents in the name of the present owner.

∙ Check latest patta/pahani/property card (whichever land revenue record applicable in the respective state) issued in the name of the present owner along with the land area extent so as to cross verify the mutation made in the revenue records in the name of the present owner of the land.

∙ Study the Field Map Sketch (FMB Sketch) of the land intended to be purchased.

buying a land_loanyantra.com

∙ You must check whether the land conversion order had been obtained (if applicable in that particular state and whether the land had been converted to non-agricultural/residential land).

∙ Take a look at the land use maps to know the land use pattern fixed by the concerned authorities (for example, if the land intended to be purchased has been mapped as residential use site, then it can’t be used for any commercial purposes)

∙ Checkout the layout approval. Get a copy of the layout proceedings issued by the appropriate authority along with layout plan copy with a seal of the appropriate local body, and permit issued by the appropriate authority (for layout or scheme). If possible check the details of layout approval online (if available in that respective state). Also, ensure whether the concerned authority granting the permission for layout of land actually has the real authority. In Tamil Nadu, the president of the village panchayat does not have the authority to sanction layout of land but many lands are styled and sold as panchayat approved lands in many parts of the State.

∙ Check whether all the conditions (if any) imposed at the time of granting layout permit by the concerned authorities have been complied with.

∙ Ensure that the land is within the prescribed land ceiling limits applicable in that respective state.

∙ Ascertain that no high voltage transmission lines passes above the land intended to be purchased.

∙ Check whether there is no restriction in purchase of land in that respective state (In certain states in India, land belonging to people in the SC/ST category can’t be purchased by those in the general category without obtaining the previous permission of the district collector. Likewise, if the land had been assigned by the Government, then it must be ensured that all the conditions imposed for assignment of land should be complied with.

∙ Check the copy of the Gift Deed executed in favour of the local body (for gift of land for open space reservation and roads) in case if the layout or scheme land exceeds certain specific area prescribed by the respective state

Crosscheck the genuineness of present owner land revenue record online (if available in that respective State)

∙ Check whether any land tax has been assessed in the name of the present owner and paid to the concerned authorities (if applicable)

∙ In case if the present owner had executed a power of attorney in favor of the power agent, check whether the said power of attorney document is still in force and also ensure that the principal (present owner) is alive before registration of the sale deed for the land.

∙ Obtain a certified copy of the latest title deed by which the owner had acquired the title to the property from the records of the concerned sub- registrar office having jurisdiction over the property to be purchased (genuineness of any document can be ascertained only when certified copy of the same is obtained from the records of the sub registrar and compared with the original)

Physically measure the land and ensure that its dimensions tallies with the dimensions mentioned in the sanctioned layout/scheme/FMB Sketch.

∙ Check the value of the land intended to be purchased from the respective website of the State Government (this facility is not available in Assam) so as to know the value fixed by the respective state government for payment of stamp duty.

∙ Obtain a non-encumbrance certificate (computerised or manual – whichever applicable) for last 30 years so as to ascertain the correct title flow and also to ascertain that there is no subsisting mortgages or court attachments over the property intended to be purchased. Also cross verify the encumbrance details online (this facility is available only in Andhra Pradesh, Telangana, Maharashtra, Tamil Nadu, Jharkhand)

Ensure that you have all these documents. After all, the risk of purchasing a land or plot is for more returns.

Note : Article extracted from The Hindu Newspaper, Property Plus Edition.

Real Estate on Upbeat

Hold on to your dreams dearies. Get ready to invest in your image home. There is an uptrend in the real estate market. Before the trend touches the peak, decide on your investment.

Real Estate word on newspaper

What made real estate market hit the upbeat

The factors responsible for this growth are pretty fair.

  • RBI cut the key interest rates by 1.5% since January 2015. The repo rate has come down to 6.5%. This made a clear positive impact on the economy.
  • The Financial Year (FY) 2015-16 saw the economy become the fastest-growing in the world with a GDP growth of 7.6%.
  • During November 2015, the government has done away with restrictions of FDI in real estate on size and minimum capitalization. This helped developers revive projects that could not receive capital due to conditions applicable for attracting FDI. This resulted in lot of capital flowing into the sector, as there are many investors waiting to invest in India.
Where did Real Estate Market, in India, stand last year?

The residential sector saw the worst phase in 2015-16. As per statistics, new residential project launches reduced by 6 per cent in Q1CY16 over Q4CY15. For FY 2015-16, the number of new launches stood at 1, 81,294 units compared to 2, 16,082 units in FY 2014-15, equaling a drop of 16 per cent.

The sector is poised for faster growth by the fourth quarter of 2016.

real estate growth_loanyantra

With the reduction in the inflation rate and the revival in the economy, the real estate prices have changed its gear. Also, the government’s policies have been a great impact, as the rate cut on the interest rates will now influence the customers without deviation.

Hold on tight to your dream. Carry on with your research. Decide on your home investment for, the real estate market is on a good monsoon.