China Can Endure Growth Slowdown to 6.5%, Finance Chief Says
For auto financing, banks can offer loans for vehicle purchases, but loan products are also provided by provincially regulated financial institutions and other companies. Finance Canada notes that overall consumer credit growth has moderated notably over the last three years, and that aggregate household debt-to-income ratio has declined for the last two quarters. aThis is a clear indication that Canadians are taking the necessary steps to properly manage their debt. The government continues to monitor the situation with respect to overall household debt,a said Finance Canada spokesman David Barnabe. The documents provided to Flaherty mention how the government previously took action to restore liquidity to the asset-backed financing sector with the rollout of the Canadian Secured Credit Facility.
Finance office a ‘chaotic mess’
China hasnt changed the official 7.5 percent expansion target for this year, Market News International reported today, citing government sources it didnt identify. The news office at the Ministry of Finance in Beijing didnt immediately respond to faxed questions on Lous remarks. The nations stocks had their biggest two-day rally in 18 months through yesterday, amid speculation that authorities will take measures to bolster growth after Lis comments on economic restructuring and parameters. The Shanghai Composite Index (SHCOMP) closed 1.6 percent lower today. False Rally To have said 6.5 percent seems like a new line in the sand, said Tim Condon , head of Asia research at ING Groep NV in Singapore , who formerly worked at the World Bank .
Muthoot Finance: Can turn 2,000 gold-loan outlets into bank branches
“We are confident of getting a banking licence from the Reserve Bank, given our reach in rural markets and our over a century of experience. In fact, our experience is the biggest asset and we are better suited than many other applicants in this regard,” Muthoot Finance managing director George Alexander Muthoot told PTI from the headquarter in Kochi. Many of its branches are in tier 2,3 & 4 towns and they can be immediately converted into a full-fledged bank branches. Muthoot said 4,200 branches, large existing customer base and strong brand image makes it an eligible candidate. With 74 years in gold financing, the company has over 4,200 gold loan outlets across 21 states and four Union territories, and employee strength of over 25,000 with a gold loan portfolio over Rs 26,000 crore as of last fiscal.
However, once again, the number of signs is increasing, creating an “unsightly” disturbance in an area under the jurisdiction of the Wenham Historic District Commission. The sign policy requires several steps; posters must seek permission from the town administrators office to post the sign, make sure the sign conforms to size and appearance requirements, and remove a sign promptly. Andrews said some sign owners are unaware of or ignoring the process and suggested closer monitoring with on-duty police personnel. Barbara Locke of the Historic District Commission suggested that the biggest issue is enforcement of the policy. Offenders should be reported to the town administrator and Selectmen, especially the yard sale and directional signs.