When it comes to a significant investment like a four-wheeler, many people end up paying high interest rates on car loans which can lead to high monthly installments.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
Prashant A Bhonsle explains the tax benefits you can avail under Section 80E of the Income Tax Act.
Begin by creating a household budget. Involve all family members in the exercise and cut costs wherever possible.
'We have interesting leads on the agents. The roles of agents in this entire operation, who were doing what.'
Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.
State Bank of India (SBI) on Monday raised its benchmark lending rates by up to 50 basis points (or 0.5 per cent), a move that will lead to an increase in EMIs for borrowers. The increase in lending rate comes days after the Reserve Bank of India hiked its benchmark lending rate by 50 basis points to tame inflation. External Benchmark based Lending Rate (EBLR) and Repo-Linked Lending Rate (RLLR) have been raised by 50 basis points while the hike in Marginal Cost of funds-based Lending Rate (MCLR) is 20 basis points across all tenure.
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
Ask your bank to save for you. Plan your taxes. Reward yourself for your addictions... Chartered accountant Shreya Jaiswal's 10 ways to make more money this year.
Electricity has also been kept out of the GST ambit.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
For long-term financial security, millennials must not only provide social security for their young families but also ensure that their financial burdens are not passed down to their families, says Casparus Kromhout.
The Aston Villa 'keeper saved three penalties in the 2021 Copa America semi-final and Argentina went on to lift the trophy. Now he's stopped two more in a World Cup quarter-final and this could just be a good omen for Messi!
Sukanya Verma quizzes you to find out just how much you know about the movies.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
Mortgage lender HDFC Ltd on Wednesday announced an increase in its benchmark lending rate by 5 basis points (bps), a move that will make loans dearer for both existing and new borrowers. This is the third hike effected by HDFC in the last one month. "HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from June 1, 2022," the housing finance company said in a statement.
A summary of Sunday's action in the English Premier League.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Argentina clinched a comfortable win in a friendly against Indonesia, making it two wins from two for the world champions on their short tour of Asia.
'If someone were to ask you if you want to die tomorrow, no matter what problems you are grappling with, you would be hesitant, right?'
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
The real estate market has seen a decline in affordability due to the recent rise in median loan rates as a result of the 50 basis points (bps) hike in repo rates by the Reserve Bank of India (RBI). A cumulative increase of 0.95 per cent in median home loan rate has impacted the purchase affordability and purchase decisions of homebuyers, according to the Affordability Index by Knight Frank. The Affordability Index tracks the EMI (equated-monthly instalment) to income ratio for an average household.
Look at the sanctioned plan to know the exact carpet area you will get and pay a law firm to conduct a thorough title check.
Whoever can make acquiring smartphones more affordable will win the sales game.
Rishi Piparaiya lists three simple steps to manage the impact of rising prices and protect your financial future
'Negotiate a longer agreement with the escalation clause fixed now.' 'This will enable you to control future cost increases.'
Can Bhavish Aggarwal upend the electric two-wheeler market, which is now overwhelmingly in favour of scooters?
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
Luxury carmaker Mercedes-Benz India on Thursday said it will increase prices of its vehicles ranging between Rs 2 lakh to Rs 12 lakh across different models from April 1, to offset rising input costs specially the adverse impact of foreign exchange. This will be the second time in three months that the company is increasing prices of its vehicles. The ex-showroom price of the company's model range will increase by up to 5 per cent from April 1, 2023, the company said.
Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
Images from the English Premier League matches played on Sunday night.
