Finance Minister P Chidambaram draws a line to check CAD at 3.7%

Towards this end, he announced a slew of measures including quasi-sovereign bonds by state-owned firms, relaxation in norms to enable banks garner deposits from non-resident Indians and an increase in import duties on non-essential goods. In its Monday edition, ET had reported that a catena of measures to contain CAD would be announced later in the day. These steps, said Chidambaram, are expected to result in additional inflows of $11 billion, which when added to normal inflows of $65 billion would be enough to finance the projected current account deficit of $70 billion. “This is as much a red line as the fiscal deficit.

Foundation Finance Company Expands Consumer Financing Programs to Include Superprime Pricing Tier

Wausau, WI (PRWEB) August 12, 2013 Foundation Finance Company (FFC), one of the fastest-growing consumer finance companies in the country, today announced the addition of a superprime pricing tier designed to compete with other nationwide, prime-credit lenders. Our second-look home improvement financing programs for near-prime and subprime customers have been hugely popular for home improvement dealers because most home improvement lenders approve only the perfect customers, says Andrea McCullion, senior vice president of marketing for FFC. But they left a lot of creditworthy customers on the table that FFC can approve. In order to streamline the process for dealers, FFC has launched a new pricing tier for the strong A credit, superprime customers that typically get approved by these larger lenders. Dealers now have access to reduced interest rates and promotional fees that meet or beat those types of programs for their best customers, plus full access to the B, C and D credit programs that can help them close more sales.

United Asia Finance May Seek Hong Kong IPO If Valuations Improve

, a consumer-finance arm of Sun Hung Kai & Co. thats expanding in China, may sell shares in Hong Kong to fund its growth in the worlds second-largest economy. United Asia expanded lending on the mainland last year by more than 60 percent to more than 2 billion yuan ($327 million), compared with 10 percent growth in its Hong Kong loan book, which totaled HK$8.3 billion ($1.1 billion), Chief Executive Officer Akihiro Nagahara said in an interview on Aug. 9.

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