The absolute amount of money raised is more than three times the 2 trillion seen before the pandemic (June 2019).
A builder and two others were allegedly duped of 18.19 lakh by two individuals in Thane, Maharashtra, who promised to secure business loans for them.
The interest rate offered by PSBs like SBI, BoB and BoI hover around 8.9 per cent-10.50 per cent. For private banks, the range is between 10.49 per cent and 12 per cent.
Personal loans are often referred to as all-purpose loans. They come in handy for purchases for which you may not have ready cash. Here is a detailed why and why not of personal loans.
A special five-member NCLT bench has issued notices to all parties in Subhash Chandra's personal insolvency case and directed the Essel Group Chairman not to alienate his properties, either directly or indirectly, following a split verdict on a repayment plan.
Zee founder Subhash Chandra has shifted his public statements from allegations against Mukesh Ambani to focusing on settling outstanding Essel Group debt, with borrowers reportedly agreeing to repay obligations.
There are many benefits of taking a personal loan against a fixed deposit than just taking a regular personal loan. Read more to find out...
Bank fraud is no longer just an external cyber threat -- insiders with legitimate access can exploit banking systems, trusted credentials and institutional blind spots to quietly siphon money.
Here are six best alternatives that would cost you lower interest rates and beat personal loans hands down.
Be very careful while opting for the rate of interest for personal loans.
Banks charging high interest rate is acceptable, but what isn't is that they do not tell their borrowers the real rate that is being charged.
List all unavoidable expenses such as rent, groceries, transportation, education and medical bills.
By virtue of it being an unsecured loan, personal loans have a very high rate of interest attached to them.
'Users should protect their savings goals before allocating money to discretionary expenditure.'
'Ultimately, banks are a channel for people to get some long-term return, and this means banks need to adjust their asset-liability mismatch.' 'Customers also need long-term deposits, say those of three-five years. How would they get them if returns on those deposits do not climb?' 'Otherwise, on fixed deposits, a senior citizen doesn't get anything.'
Opt for personal loans only to meet your essential needs which cannot wait.
A Delhi court has ordered the framing of money laundering charges against former railway minister Lalu Prasad Yadav, his wife Rabri Devi, son Tejashwi Yadav, and six others in the alleged IRCTC hotel scam. The court found strong suspicion of a manipulated tender for railway hotels and a quid pro quo involving land transfer at undervalued rates.
Getting a loan today has become very easy, what with the stiff competition prevalent among different banks. The easiest to get among the plethora of loans available are personal loans. Personal loans are easy to get, but they have their pros and cons:
Dig into the prospectus. Use the prospectus to understand the business and its risks.
Sashidhar Jagdishan, the managing director and CEO of HDFC Bank, has announced his decision not to seek reappointment and will retire at the end of his current term on October 26, concluding a six-year tenure marked by significant regulatory and governance challenges, including RBI restrictions, a major merger, and scrutiny over alleged illegal payments.
Understanding the most common mistakes during market downturns can help you protect your investments and stay focused on your long-term financial goals, says Ramalingam Kalirajan
Hospital chain Fortis Healthcare has filed a special leave petition in the Supreme Court against a Delhi High Court order directing a forensic audit into the alleged erosion of assets by its former promoters, Malvinder and Shivinder Singh, during enforcement proceedings initiated by Japanese drugmaker Daiichi Sankyo.
Global ratings agency, Fitch Ratings, said the 180 days past due (dpd) two-wheeler loans (loans where EMIs are overdue for over 90 days) have reached as high as 6 per cent of original principal outstanding in some pools.
Tottenham Hotspur have significantly boosted their squad by signing Brazil winger Savinho from Manchester City, pushing their close-season spending beyond 300 million under manager Roberto De Zerbi, following a narrow escape from relegation last season.
Essel Group founder Subhash Chandra has called for an independent audit to examine the group's borrowings, defaults, and repayments, stating that approximately 43,000 crore of its 45,000 crore total debt has been repaid.
Need quick cash? A personal loan might just be the answer.
Personal loans can help you tide over the cost credit card dues. Here's what you must know before applying for a personal loan.
Can you run a business by taking personal loans or structured loans? What are the drawbacks of doing business on such terms? Personal loan expert Harsh Roongta gives his advice on such tricky finance issues.
Do not share OTPs, PINs, authentication codes, card numbers, card verification values (CVVs), KYC details, security answers, Internet-banking passwords or Aadhaar-based authentication credentials through SMS, e-mail or phone calls.
'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
Mallya's comments came a day after country's largest lender, State Bank's Chairman O P Bhatt said that rising levels of stressed assets may push up defaults in the domestic banking system and banks need to enhance their risk management mechanisms to tackle the issue. However, BoB has a comfortable liquidity position and has its NPA levels under control, Mallya said, adding, "the bank has adequate headroom to raise capital but did not have any immediate plans to do so."
A personal loan is always a risky alternative finance with a higher rate of interest and it is better to close the loan as early as possible.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
How your personal loan interest rate is calculated and what you must know before going for prepayment.
But before borrowers jump in joy they must know about the drawbacks too!
Too many EMIs draining your salary? Ramalingam Kalirajan explains the safe borrowing limit that protects your income from a dangerous debt trap.
Personal loans continued to grow at a robust pace and recorded a 13.5 per cent year-on-year rise in March 2021, while industrial loan growth remained negative during all quarters of the last fiscal, the Reserve Bank of India said on Tuesday. As per the Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), March 2021' released by the RBI, private sector banks registered a higher loan growth compared to the other bank group.
Before you rush out to get a personal loan, it is important for you to understand the pros and cons of personal loan, in order to make an informed decision.
A sophisticated cross-bank syndicate is systematically defrauding non-resident Indians (NRIs) and elderly citizens by exploiting their fixed deposits through forged documents and fictitious loans, often involving colluding bank employees and real estate deals.
