Terming the 23.9 per cent fall in economic growth in the June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding, "Unfortunately, after an initial burst of activity, it seems to have retreated into a shell."
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
'The young middle-class Indian is more concerned with Birkins and bikes and the EMIs on a new home and travelling abroad than politics,' novelist Shobhaa De tells Rediff.com's Savera R Someshwar and Vaihayasi Pande Daniel.
'During the pandemic, thousands of IT employees have lost their jobs.' 'Many of those who still have their jobs fear that they will lost it any moment.'
The outbreak and lockdown have thrown up a number of challenges, such as layoffs, pay cuts and a general slowdown. Many subscribers after their unsuccessful attempts to use the scheme have taken to social media to voice their complaints, as the EPFO website and grievance portal suffer outages and its customer helpline remains unreachable.
Here's how you can ensure you have enough in your kitty and be in command of your finances.
Bumper liquidity as a result of global central bank stimulus measures should prevent a sharper downturn.
'You cannot start an MSME again.' 'It is not like a Yes Bank that someone comes and saves the bank.' Once the shutter is down for an MSME, nobody will come to its rescue.'
Duly paying your education loan installments on time, each month, is the best thing that could be done to maintain a good CIBIL TransUnion Score.
Instant approval, no due diligence, conversion to easy-to-pay EMIs, nominal processing fees are some of the reasons why credit card loans are better
There were nearly 4,000 cabin crew with Jet when the airline was grounded; every fifth remains without a job to date. One cabin crew member with 10 years of experience has been forced to take up a teaching job; some have branched out into small businesses. Aviation jobs were scarce even before the Covid-19 pandemic arrived on Indian shores in early 2020. The situation has been exacerbated since.
BRIC economies improved slightly on the previous quarter.
Acute cash crunch and dwindling sales has forced developers in Ahmedabad to try innovative ways to lure buyers.
Though the level of gloom about the future business outlook moderated among the big-four emerging market economies, Indian counterparts are the most confident.
'Opt for this facility only after doing a cost-benefit analysis: Will the savings in interest cost by parking your surpluses in the home loan overdraft account outweigh the higher interest cost of this loan?'
Auto sector cheers RBI rate cut as 'festival gift'
Drivezy is helping people share their vehicles.
'The pay cuts have been very tough on those with entire families to support.'
Most borrowers of loans against property pin hopes on future cash flows from their business, but in case of failure to repay the loan, the lender can repossess the property and sell it.
'Business will be 20% of what it was before the lockdown.'
Paying higher EMIs on your home loan? Don't fret. Here's a simple way to get lower interest rate on your home loan.
If one has to draw a parallel to a home loan, marriage comes pretty close. There is a high involvement of finances, emotions and a long time commitment. But don't let this analogy send your thought trail in a frenzy! Just like marriage, this can turn out to be the best decision of your life.
As campaigns against Chinese brands intensify and the virus keeps people indoors, Vivo plays it slow with a digital-first launch plan.
Here's the answer to a dilemma faced by many home loan borrowers: To prepay your home loan or not when you get a one-time substantial bonus.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
Some other sites that allow repayment over longer tenures also waive off interest cost but that might be built into the product price.
Central bank unhappy with North Block's EMI diktat to banks, asks for more provisioning.
Emotions ran high as Nantes paid tribute to their former player Emiliano Sala on Wednesday in their first game since the Argentine went missing in a light aircraft over the English Channel.
Let us discuss what has made your savings bank deposits a worthwhile avenue to park your funds now.
Facebook enabled users to mark themselves safe in Chennai since Thursday morning
'It is crucial to understand that the ultimate goal of your investments isn't to pay lesser tax, but to create long-term wealth for you and your family,' says Satyen Kothari, founder and CEO, Cube Wealth.
However, compared to August, vehicle sales increased by 15.25 per cent on the back of discounts. Maruti led the market in offering heavy discounts and incentives for buyers and dealers, reports Arindam Majumder.
Use credit cards with discretion and try to generate a net monthly surplus to avoid falling into a debt trap
Invest the amount you BURN every month on smoking cigarettes, drinking alcohol and eating out at luxury hotels according to this plan. The end result: Better health and higher savings.
For a petrol car with a Rs 500,000-600,000 price tag, an EV variant would not cost less than Rs 12 lakh, making it virtually unaffordable.
Nokia launches Nokia 7 Plus, 8 Sirocco series in India; relaunches Nokia 6 with new features.
Rating agency Crisil has said rising interest rates and the reintroduction of teaser loans by various banks would put an additional burden of Rs 6,000 crore (Rs 60 billion) on them.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
Make the most of the income that you earn by invest the money in the right instruments. The advantages of starting early and investing right cannot be overstated, says financial planner Harshad Chetanwala.
