EMIs of housing loans could be extended, says banker

September 2, 2011

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Mangalore, September 3: “People who cannot repay the home loan within the time frame may have their repayment time extended,” said Bank Chairman and Managing Director H S Upendra Kamath.

Owing to the inflationary trends, the banks have been forced to increase the interest rates. This has resulted in the increased Every Month Installment (EMI) amount. Those who fail to pay the increased amount will have their EMI numbers increased, Mr. Kamath said.

He was delivering a lecture on “Micro, Small and Medium Enterprises and General Banking issues” at KCCI hall here on Friday.

Banks have been advised to take care of the customers, be it Small Medium Enterprises (SME) or home loan borrowers, he said. He however added that the restructuring of loan repayment can take place only if the bank finds the SMEs promising.

Dismissing the general perception that bankers will be happy with the hike in interest rates, Mr. Kamath sympathized with small and medium enterprises that “don't have the capacity to bear the hike or pass it on to the consumers”.

“Even salaried classes who have taken home loans may face this economic stress,” he observed.

KCCI president Latha R. Kini, vice-president Mohammed Ameen, other office-bearers including Ganesh Bhat, Rammohan Pai Maroli and Sudhir Ghate were present.

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News Network
January 9,2025

Mangaluru: In a significant development, Mescom has proposed a phased electricity tariff hike starting with Rs 0.70 per unit for the fiscal year 2025-26. The proposal has been submitted to the Karnataka Electricity Regulatory Commission (KERC) for approval, signaling a potential increase in electricity costs for consumers.

Mescom emphasized that the current tariff structure is insufficient to meet operational expenses and manage revenue effectively. To address this, the company has invited public objections to the proposed hike.

Currently, the electricity supply cost is Rs 9.23 per unit, while the consumer tariff stands at Rs 8.53 per unit, leading to a shortfall of Rs 0.70 per unit. For the financial year 2023-24, Mescom reported revenue of Rs 5,924.73 crore against an expenditure of Rs 6,310.39 crore, resulting in a deficit of Rs 367.66 crore. For the 2025-26 fiscal year, projected revenue is Rs 5,850.81 crore, with an actual requirement of Rs 5,961.63 crore, creating a deficit of Rs 110.82 crore.

In a first, Mescom has submitted a multi-year tariff revision proposal to KERC. The plan outlines a hike of Rs 0.70 per unit for 2025-26, followed by Rs 0.37 per unit for 2026-27 and Rs 0.54 per unit for 2027-28.

"An increase in electricity tariff is inevitable," stated Jayakumar R, Managing Director of Mescom. "Mescom has submitted a proposal in this regard to KERC."

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News Network
January 6,2025

Two cases of Human Metapneumovirus (HMPV) were reported in Bengaluru on January 6 - a 3-month-old baby who has been discharged and an 8-month-old who is recovering at a hospital in the Karnataka capital. This marks the first reported cases of HMPV in India.

The infected infants and their families have no recent travel history, ruling out exposure from other regions or countries, the health department said.

HMPV is a respiratory virus that often causes mild symptoms resembling a cold but can lead to other complications, particularly in infants, the elderly, and those with weakened immune systems. The virus can occasionally trigger pneumonia or exacerbate chronic respiratory conditions. Cases typically rise during the winter and early spring.

The Centre announced on Sunday that it is monitoring HMPV and other respiratory viruses, especially following recent reports of increased respiratory illnesses in China. A Joint Monitoring Group (JMG) convened on January 4 to evaluate the situation, with representatives from the World Health Organisation (WHO), National Centre for Disease Control (NCDC), Indian Council of Medical Research (ICMR), and other health organisations participating.

Respiratory illnesses in China align with seasonal variations caused by viruses such as influenza, RSV, and HMPV. Current surveillance data from India does not indicate any unusual surge in respiratory infections, according to the Ministry of Health and Family Welfare.

As a precaution, the Centre has increased laboratory capacity for HMPV testing. The ICMR will monitor HMPV trends throughout the year, alongside other respiratory illnesses such as influenza-like illness (ILI) and severe acute respiratory infections (SARI). A robust network of surveillance systems, including those operated by ICMR and the Integrated Disease Surveillance Programme (IDSP), continues to track respiratory infections across the country.

Hospitals have been advised to strengthen isolation protocols for suspected cases, ensure the availability of essential medicines, and promptly report ILI and SARI cases through the Integrated Health Information Platform (IHIP).

Precautions to Take:

To reduce the risk of HMPV infection, individuals are advised to:

  • Wash hands frequently with soap and water for at least 20 seconds.
  • Avoid close contact with people who have respiratory symptoms.
  • Wear masks in crowded or high-risk areas, especially during seasonal outbreaks.
  • Maintain good indoor ventilation by keeping windows open when possible.
  • Disinfect commonly touched surfaces regularly, such as doorknobs, toys, and tables.
  • Monitor infants, the elderly, and people with chronic illnesses for symptoms like persistent cough or breathing difficulties.
  • Seek prompt medical attention if respiratory symptoms worsen or persist. 

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News Network
December 29,2024

Mangaluru: Karnataka Legislative Assembly Speaker and Mangalore MLA U T Khader announced two ambitious bridge projects sanctioned by the Cabinet for Mangalore constituency, aimed at reducing traffic congestion on NH 66 and promoting tourism in the region.

A new bridge, parallel to the Nethravathi bridge, will connect Kotepura to Bolara at an estimated cost of ₹200 crore. Spanning 1.5 km, it will be one of the longest bridges in the region. A consultant appointed by the Public Works Department (PWD) is currently preparing the Detailed Project Report (DPR). Khader explained that Kotepura, once a hub of business activities before the construction of the Nethravathi bridge, will regain its prominence with the new project.

“The 12-meter-wide bridge will offer breathtaking views of the Arabian Sea, designed to enhance the experience for commuters. Once completed, it is expected to reduce 50% of the traffic on NH 66 via Pumpwell, as residents from areas like Bunder, Kudroli, and Bolar will use this route. Additionally, plans are underway to develop a scenic seaside road from Kotepura to the Kerala border, boosting tourism,” Khader elaborated.

The second bridge, connecting Sajipa Nadu to Thumbe at a cost of ₹62 crore, is set to benefit residents from Arkula, Meramajalu, and Thumbe. Presently, residents from Sajipa must travel via Melkar and Bantwal to reach Thumbe. “This bridge has been a long-standing dream of mine, and I had placed the proposal before the Chief Minister even before becoming the Speaker,” he added.

Addressing concerns about the difficulty faced by residents crossing the railway line between Thokkottu and Olapete, Khader revealed that a footbridge has been proposed, and funding is ready, awaiting railway approval.

On other topics, Khader responded to a query about the Special Investigation Team (SIT) probing allegations against RR Nagar BJP MLA Munirathna. He stated that the matter would be discussed with the Assembly secretary. Regarding an MLC C T Ravi's controversial remark, Khader expressed regret and assured that the Council Chairman would address the issue.

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