With Deputy Governor Viral Acharya and another member Chetan Ghate voting for a status quo, RBI governor Shaktikanta Das and three others outvoted them for reduction in repo rate to 6.25 per cent from the existing 6.50 per cent.
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
Reliance-Google's new smartphone has got mixed reviews from analysts and brokerages. The phone pricing is seen unattractive for low-end customers and bundled offers are being viewed as non-disruptive. While this could slow the pace of adoption, it could set the stage for tariff hikes in the industry, feel analysts.
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
Sukanya Verma quizzes you to find out just how much you know about the movies.
Rising EMIs owe their origin to the 'floating' benchmarks to which banks peg home loan rates. The lack of transparency in these benchmarks is now under scrutiny. What to do while the regulators fix it.
Jiophone Next will be available from Diwali for Rs 6,499 per unit for customers wanting to buy the smartphone without financing option, Jio and Google said in a joint statement on Friday. Jio is also giving a finance option for the Jiophone Next where users can make an upfront payment of Rs 1,999 and pay the rest in easy monthly instalments spread across 18-24 months, the company said in a statement. "This is the first time that a phone in the entry-level category is getting a financing option.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
A summary of Sunday's action in the Premier League.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Mayank Goyal, founder and CEO, moneyHOP, will answer queries related to how to best manage your money while travelling internationally.
With India rolling out 5G services, can telcos get the sizeable 350-400 million 2G customers to upgrade to 4G, or even better -- but very improbably -- straight to 5G?
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c, suggests Bindisha Sarang.
Sumit Roy, an MBA, shares a simple formula to cut down expenses and save money post lockdown.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
A balance transfer to another lender entails substantial cost and time.
While the likely intensity of the third wave is still a matter of debate, wisdom lies in being financially prepared for it, advises Bindisha Sarang.
As Jahangirpuri's C-Block remains heavily barricaded and under tight security following last week's violence, several residents Friday said they are unable to open their shops or go to work due to restriction on movement which is affecting their livelihoods.
So what do we do when the purchase is beyond the repayment capacity? We are presented with 2 options: Pay the Minimum Balance, or Convert the purchase into an EMI.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
Equity benchmarks extended their decline for the fourth straight session on Wednesday, with the Sensex falling 214.85 points after the Reserve Bank raised the key interest rate by 50 basis points. Continuous foreign fund outflows and surging crude oil prices also weighed on markets. The 30-share BSE benchmark dropped 214.85 points or 0.39 per cent to settle at 54,892.49.
Postpone the purchase of big-ticket consumer durable items, recreational spending on holidays, and other such expenses unless your financial position is very secure, advises Sarbajeet K Sen.
Whatever you do, continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time. Then try to buy yourself some breathing space, says Harsh Roongta.
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
Rising interest rates and anticipated launch of the Tata Nano has impacted the sales of entry level cars like the Maruti 800, and anlaysts expected the entry level market dynamics to change further post the Nano launch expected in the last quarter of the fiscal.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
In a letter to chairmen and managing directors of public sector banks, the finance ministry has asked state-run banks not to increase the equated monthly installment, in order to provide some relief to the borrowers since interest rates have risen sharply.
The popular National Electronic Funds Transfer (NEFT) system for online transfer of funds will remain unavailable for 14 hours from Saturday mid-night till Sunday afternoon due technical upgrade, the Reserve Bank of India said on Monday. National Electronic Funds Transfer (NEFT) is a nation-wide centralised payment system owned and operated by the Reserve Bank of India (RBI). It is available round the clock availability on all days of the year.
SBI is the first major bank to cut its base lending rate this year.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
For home buyers wondering whether to opt for increased EMI or tenure, here are some clues.
As education loans are given on a floating-rate basis (and not fixed), one needs to account for probable spikes in the EMI while choosing the loan tenure. Loans are available for up to 15 years, which could lower your EMI and ease your repayment burden, advises Mohan Jayaraman.
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