The pace of lending to the infrastructure sector, including power and roads, fell sharply to 1.8 per cent year-on-year (YoY) in May, 2023 compared to 9.8 per cent in May, 2022. Within the segment, the growth in loans to the power sector was at 0.3 per cent YoY in May 2023, down from 9.3 per cent in May 2022. The RBI data showed that outstanding credit to power sector stood at Rs 6.17 trillion in May.
Bajaj Finance's quarterly business update, coupled with around 24 per cent fall over the past six months, has turned risk-reward favourable for investors, observe analysts. They see up to 39 per cent upside in the stock, from a one-year perspective. Global brokerage CLSA, for instance, has upgraded the stock from 'underperform' to 'outperform' with an increased one-year target price of Rs 6,600 (vs Rs 6,000 earlier) as it believes the risk-reward has turned favourable for the counter, and there is scope for expansion if growth remains robust.
SBI has suggested that banks be exempted from handing over the complete forensic audit report to the borrower as it would hamper future investigation and forewarn the borrower by way of disclosure of confidential information.
Loan against property can be taken to tide over financial need.
The focus of the meeting will be on enabling businesses and households to avail of the revival framework on the basis of viability, necessary steps like finalising bank policies and identifying borrowers, and discussing issues that require addressing for smooth and speedy implementation.
rediffGURU T S Khurana answers readers' personal income tax queries
Home loan expert Harsh Roongta throws light on complex problems of tax benefits for housing loans.
'They take care of the problem: How can I ensure my child's education and other goals are not compromised, even if I am not around?'
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Doubling standard deduction to Rs 1 lakh, increasing tax break on interest paid on housing loan and rationalisation of capital gains tax regime are some of the expectations that consultancy firm KPMG has from the Budget 2024-25 to be unveiled on July 23 in Parliament. There has been a significant rise in medical expenses, fuel costs and overall inflation.
In 2014, gold prices had fluctuated between Rs 27,000 and 30,000/10g.
Canara Bank has reduced the floating and fixed home loan interest rates, as also rates of auto loans and other personal loan products, with effect from Wednesday.
In an online chat with Get Ahead readers July 8, financial expert Anil Rego answered their queries on education loan. Here is the chat transcript
'It is the first technology in history which is not just a tool, it is an agent.' Yuval Noah Harari on the dangers on AI.
A loan against shares could be a viable option if you want to raise some money quickly. A closer look.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
The depreciation in rupee may pose a problem for students who have taken loans from Indian lenders.
'It's advisable not to go overboard on a banking sector fund or any other sector fund.'
Despite gold prices hitting record highs, analysts aren't gung-ho about the outlook for gold financiers Muthoot Finance and Manappuram Finance. This, they said, was due to intense competition from banks, coupled with stagnating loan books and likely pressure on margins.
Loan on credit card is similar to personal loans, but this is pre-approved, and it comes without the need for any documentation.
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
Servicing two EMIs will substantially reduce tax benefits on second flat.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
'The market has picked up for commercial vehicles. We are very close to pre-pandemic levels.'
Amid speculations that home and personal loan rates may go up, government said on Wednesday the 0.25 per cent hike in Reserve Bank of India's short term lending rate is not intended to make loans costlier but to make banks self sufficient.
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
The extent of the rate cut is being calibrated and would be announced soon. ICICI had earlier this month reduced home loan rates for new customers by up to 1.5 percentage point. There are indications that the fresh cut in interest rates would benefit both existing and new customers.
'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.
The Reserve Bank of India has directed banks to set aside more capital to cover risks on advances to realty sectors and has raised repo rate by 0.25 per cent to 7.50 per cent .
In a stunning comeback, Hemant Soren's Jharkhand Mukti Morcha-led alliance on Saturday stormed to power in Jharkhand for a second consecutive term, winning 56 seats in the 81-member assembly, despite an all-out blitz by the Bharatiya Janata Party-led National Democratic Alliance which managed only 24 seats.
The RBI had on August 7 announced a five-member expert panel under former ICICI Bank chairman Kamath to make recommendations on the required financial parameters for recasting corporate loans.
India's financial sector is dominated by large government-owned and private-sector banks.
Hemant Soren, the youngest chief minister of Jharkhand, has navigated a tumultuous political journey marked by legal battles, party rivalries, and personal setbacks. Despite facing challenges, he has emerged as a powerful advocate for the rights of tribal communities, earning his place as a formidable figure in the state's political landscape. This article explores his rise to power, his leadership style, and the key initiatives he has undertaken for the betterment of Jharkhand.
By consolidating borrowings, the total EMI burden and interest cost can be reduced.
The spike in food prices at the onset of the monsoon season has corroborated the Reserve Bank of India's (RBI's) view that the fight against inflation is far from over, the State of the Economy report of the central bank said. At the same time, the report said that the country is poised to become the fastest-growing major economy in the world, notwithstanding some sequential moderation in economic activity in June. Consumer Price Index (CPI)-based inflation rate increased to 4.8 per cent in June 2023, from 4.3 per cent in May, primarily on account of an increase in food inflation.
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