Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The Pradhan Mantri MUDRA Yojana can lend between Rs 50,000-Rs 10 lakh to small entrepreneurs.
In the months immediately following the 2024 tragedy, reporting on the landslide per se had been a straightforward affair. On one side was death and destruction. On the other side, survivors and the business of survival. It was black and white. What direction to take was clear. Rehabilitation in comparison, felt like a complex situation. One that is fraught with shades of grey. As grey as human life, explains Shyam G Menon.
Markets regulator Sebi has barred industrialist Anil Ambani, 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from being associated with the securities market including as a director or Key Managerial Personnel (KMP) in any listed company, or any intermediary registered with the market regulator, for a period of 5 years.
Gold is one of the most influential financial instruments in the India. Banks, NBFCs and unorganised lenders are actively engaged in providing loans against gold value.
Linking businesses with account aggregator (AA) network -- a financial data sharing platform -- will help small entrepreneurs get easy access to credit and create millions of jobs, Infosys Technologies co-founder and chairman Nandan Nilekani said on Tuesday. He made the remarks during a session at the 'GSV + Emeritus India Summit' event in Gurugram. In the Budget for FY24, the government said that the GST system could join the account aggregator network, which means that every company in the GST system can ask for its data back which includes their tax filings and invoices, Nilekani said.
The Reserve Bank on Wednesday imposed business restrictions on Edelweiss Group's lending and asset reconstruction arms on concerns over evergreening of loans. The central bank has asked ECL Finance Ltd (ECL) to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts, an official statement said.
Mortgage finance remains a structural growth opportunity in India with a policy focus on affordable housing, housing shortages, low mortgage penetration, and rising incomes as drivers. Affordable Housing Finance Companies (AHFCs) serve the mass market, low-income segments, which is the least-serviced category, and to operate in this segment, the mortgage provider needs good assessment skills. AHFCs and HFCs have also been increasing exposure in other mortgage segments (loan against property, developer loans among others).
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.
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
Payments banks are expecting to get the rights to offer small-ticket loans sometime soon, according to an industry source familiar with the matter. The industry has been in talks with the Reserve Bank of India (RBI) for some time in seeking lending rights.
Loan against your property is the best loan for a large cash requirement and a long tenure.
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
Mukesh Ambani's Jio Financial Services (JFS) is set to seek shareholders' approval for its leasing subsidiary to acquire telecom equipment and devices worth Rs 36,000 crore ($4.33 billion) from Reliance Retail. Jio Leasing Services Limited (JLSL), a wholly-owned subsidiary of JFS, plans to enter the device leasing business, and the equipment will be deployed in broadband wireless connectivity and other services.
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
Reserve Bank Governor Shaktikanta Das on Friday said that this stage would have been "premature" and "very very risky" as the retail inflation is still high, and future monetary policy action would depend upon the income data and outlook. Earlier this month, the RBI continued to maintain the status quo in the short-term lending interest rate (repo), citing inflationary concerns, though it changed the monetary policy stance to neutral.
The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
Private sector lender Axis Bank is close to acquiring Citigroup's retail banking business in India and a deal is likely to be announced soon, sources said on Wednesday. According to the sources, the deal, to be valued at $2.5 billion (about Rs 18,000 crore), will be subject to regulatory approvals. In April 2021, American banking major Citigroup announced its plan to exit from the consumer banking business in India as part of its global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
'Justice may or may not happen, but who are those people who did this to her?' 'If the hospital authorities had helped us that day, or the police, then the real culprits would have been caught.' 'Getting justice for my daughter is my goal now and I want the CM to remember that.'
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
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.
The difference between Cibil and other marketplaces is that in the case of the latter the credit report is accessed after the customer clicks the loan offer, while in the case of Cibil the customer first checks the credit score and then applies for the loan.
The maiden Test ton celebration in Salaar style was a tribute to his father Mutyala, who watched his son rescue India from the stand behind team's dug-out.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
Real estate investment trusts (Reits) are in talks with regulatory bodies - the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) - to seek changes in regulations that will allow easier access to capital. The Indian Reits Association (IRA) said it has approached the market regulator seeking to get classified as an 'equity' asset, which will open the path for their inclusion in equity indices and also make investment by mutual funds (MFs) easier. The association is also in active discussions with the RBI to allow banks to lend to a Reit.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'
Reliance Industries Ltd on Friday reported an 11 per cent drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore, or Rs 23.66 per share, in April-June - the first quarter of current 2023-24 fiscal year - compared with Rs 17,955 crore, or Rs 26.54 a share, earning a year back, according to a company's stock exchange filing.
Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
Every political party loves to use the bait of loan waiver to woo the electorate. If their hearts bleed for the poor, they can always use the party funds to pay off the lenders, suggests Tamal Bandyopadhyay.
Go First chief executive officer Kaushik Khona and tribunal-appointed interim resolution professional Abhilash Lal on Thursday reached out to the airline's staff, seeking their support for revival. While Khona said the company had taken all steps for the airline's revival, Lal put forward the view it would have to raise funds. Employee engagement took place a day after the National Company Law Tribunal (NCLT) admitted the airline's insolvency plea on Wednesday and ordered a moratorium on recoveries.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
