ICICI Bank is planning to increase its home loan rates by 50 basis points "anytime before the end of the current fiscal".
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Banks are shying away from the unsecured lending market, thanks to the rising instances of defaults and recovery woes.The rate of growth in the personal loan portfolio of banks has dipped to 13.2 per cent to Rs 58,669 crore (Rs 586.69 billion) as on February 15, 2008, compared with 30.6 per cent in the same period last year, said the Reserve Bank of India in its 2007-08 report on Macroeconomic and Monetary Developments.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
The ED had conducted searches against the legislator, Sai Aaina Farms Pvt Ltd (now Mahira Infratech Pvt Ltd), other companies of the Mahira Group and some others in July last year.
To begin with, these are among the cheapest in the loan market.
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.
Yes, you need to be safe when dealing with third party agents who act as intermediaries between you and the lending institutes.
Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
Muhammad Yunus proved that he was neither an armchair economist nor a slogan mongering political activist, but a doer destined to do what Mahatma Gandhi said -- to remove every tear from every eye, recalls Rup Narayan Das.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Gross bad loans of banks may rise from 6.9 per cent in September 2021 to 8.1-9.5 per cent by September 2022 if the Omicron variant strikes the economy hard, as per the financial stability report of the Reserve Bank released on Wednesday. The report also said that the rising stress level in the retail loan portfolio of banks -- the mainstay of bank credit for many years now -- was led by home loans, which grew in double-digits so far this fiscal. While asset quality improved, with gross non-performing assets (GNPA) and net NPA (NNPA) ratios declining to 6.9 and 2.3 per cent, respectively, in September 2021, the slippage ratio inched up during the same period as private sector banks showed a higher rate of deterioration in asset quality, as per the report.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
We asked you to send in your experiences about the mistakes you made in 2007 and how do you plan to make 2008 a financial success. Here, we present a strategy by Pune reader Anand K telling us how he makes money from the stock market by taking personal loans.
rediffGURU Anil Rego answers readers' personal income tax queries.
The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. "RBI is now planning to go into the interbank borrowing market.
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.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
Online and mobile based personal finance applications have gained importance over the past few years.
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
The Enforcement Directorate on Thursday said it has frozen assets worth Rs 143 crore of prominent Kerala-based NBFC Manappuram Finance Ltd's MD and CEO V P Nandakumar after it conducted raids as part of a money laundering investigation. A total of six premises in Thrissur, where the company is headquartered, were covered during the searches that were launched on Wednesday. The case pertains to allegations of money laundering through "illegal" collection of deposits from the public, the agency said in a statement.
Lenders now use your phone data, utility bill payment records and other non-traditional parameters to determine if you are creditworthy.
The Delhi Police on Wednesday arrested a 33-year-old man from Uttar Pradesh's Bareilly for allegedly drawing anti-Arvind Kejriwal graffiti at stations of Delhi Metro and inside its coaches, an officer said.
Remittance into India from foreign countries has already seen a jump of 25% in the last two months
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
Public sector banks (PSBs) have delivered significant outperformance over the past three years and the sector has been re-rated. Given the growth and profitability expectations of an 18 per cent return on equity (RoE) over FY24-26, there is still a case for buying at the current levels. While the net interest margins or NIMs may remain range-bound or have a downward bias, there's optimism about possibly better opex ratios and lower non-performing assets (NPAs), plus scope for further credit cost reduction, and healthy treasury performances as interest rates trend down.
Moratorium was only a temporary reprieve to borrowers affected by the pandemic, adding that a longer moratorium period exceeding six months can impact credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments.
Growth in credit card outstanding has been the fastest compared to other personal loan segments
The authority said in its order that it believes that the movable assets and equity shares that were attached by the ED are proceeds of crime and linked to the offence of money laundering.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your mutual fund queries.
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
Before applying for a home loan, make sure you have not been delinquent in the past six months at least.
'Asset allocation should be driven much more by long-term factors rather than the market scenario at any particular point in time.'
IndusInd Bank MD & CEO Romesh Sobti said that, during the fourth quarter, the private sector lender was expecting a 20 per cent growth in its loan book. "There are still a lot of good companies, and you don't write off everyone. There is nothing like zero-risk. It is low-, medium- and high-risk, and you avoid high-risk though they give you high returns," Sobti said after announcing the inauguration of new-look branches aimed at attracting more high networth customers.
Sujata Ahlawat, Senior Vice President and Head of Direct-to-Consumer Interactive, TransUnion CIBIL, offers a quick glimpse into what a CIBIL Score is, the factors that impact it, and tips for maintaining a healthy score.
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