When business partner in McDonald`s Harry Sonneborn remarked that they were actually in the business of real estate than selling cheesy burgers and fries, it may have come as a startling observation but it had the heft of logic.
Competition watchdog CCI has
asked about two dozen banks and housing finance companies,
including SBI, HDFC, ICICI Bank and LICHF, to explain their
move of imposing penalty on borrowers for pre-payment of home loans.
Private sector lenders ICICI Bank
and Kotak Mahindra on Tuesday announced low rates of 8.25 percent
and 8.49 percent respectively for home loans, intensifying
the cut-throat competition sparked by SBI and HDFC.