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Even as the central bank is expected to hike rates one more time Marquez Valdes-Scantling Womens Jersey , banks have started offering discounts on home loans. Lenders say that this development is an indicator that demand for home loans is easing.


On Wednesday, IDBI Bank announced special rate home loans and auto loans for the festive season. In terms of the scheme, borrowers can avail of home loans up to Rs 25 lakh at 10.75%, Rs 25 lakh to Rs 30 lakh at 11% and loans between Rs 30 to Rs 75 lakh at 11.25%. The bank has also decided to offer concession of 100 bps in rate of interest for all segment of loans as well as 100% waiver of processing fee for auto loans. The offers are applicable to the new loans sanctioned between October 15, 2011 to December 31, 2011.


Last week, Dena Bank reduced its lending rate on home loans and auto loans by 25 basis points. The bank also reduced the processing fees on these loans by 50%. With the concession loans up to Rs 25 lakh are available at 11.15%. The bank also offers loans up to 5 years at 10.7%. “If there is a further increase in interest rates the demand for home loans will drop. Already there are not many people seeking home loans” said Amitabh Chaturvedi J'Mon Moore Womens Jersey , CEO, Dhanlaxmi Bank.


China on Thursday responded to a Reuters report that the U.S. and India are discussing joint naval patrols in the disputed South China Sea, warning that interference from countries outside the region threatens peace and stability.


"No cooperation between any countries should be directed at a third party," Chinese Foreign Ministry spokesman Hong Lei said in an emailed statement to Reuters, in response to a request for comment on the report published on Wednesday.


"Countries from outside the area must stop pushing forward the militarization of the South China Sea, cease endangering the sovereignty and national security of littoral countries in the name of 'freedom of navigation' and harming the peace and stability of the region."


The United States wants its regional allies and other Asian nations to adopt a more united stance against China over the South China Sea.


A U.S. defense official told Reuters this week the United States and India had held talks about joint naval patrols that could include the South China Sea.


The Indian navy has never carried out joint patrols with another country and a navy spokesman told Reuters there was no change in the government's policy of only joining an international military effort under the U.N. flag.


Hong urged caution.


"We hope that the relevant parties speak and act with caution, refrain from intervening in the South China Sea issue Oren Burks Womens Jersey , and especially avoid being manipulated by certain countries and ultimately harming their own interests."

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