The RBI has flagged concerns over rising volatility in gold prices and advised lenders to exercise caution in the gold loan segment.
Reserve Bank Governor Sanjay Malhotra on Wednesday said there is no proposal to levy any charge on UPI transactions.
Before signing up for a BNPL plan, read the fine print carefully and watch for red flags like unclear repayment terms, vague information on interest or late fees, and marketing that downplays the cost of default.
'I try to convince myself to stay calm, do my work and not let his behaviour get to me. Some days it works; most days, it doesn't.'
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'LAP is suited for borrowers with a steady income, sound repayment discipline, and a clear repayment plan.'
Missing your EMI payment means you have to pay a fine. You also have to make time from your busy schedule to meet the collection agent.
Home loan expert Harsh Roongta tells you how you can use your home loan to pay off your personal loan.
Nominations and addresses are of paramount importance in bank accounts, insurance policies, mutual funds, etc.
While managing rising EMIs can be challenging, the right strategy can help individuals can ease their financial burden, says rediffGURU and financial planning expert, Colonel Sanjeev Govila (retd).
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Ultimately, the choice between no-cost EMI and BNPL depends on an individual's financial situation, preferences, and ability to manage repayments responsibly.
A National Commission order held that the buyer was the borrower and so the bank was entitled to demand the EMI payments from him.
Gaurav Mohta, chief marketing officer, Home First Finance Company will answer your home loan queries.
Jiophone Next will be available from Diwali for Rs 6,499 per unit for customers wanting to buy the smartphone without financing option, Jio and Google said in a joint statement on Friday. Jio is also giving a finance option for the Jiophone Next where users can make an upfront payment of Rs 1,999 and pay the rest in easy monthly instalments spread across 18-24 months, the company said in a statement. "This is the first time that a phone in the entry-level category is getting a financing option.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
In such frauds customers get calls asking them to share their OTP in order to postpone their loan EMIs. Once the OTP is shared the amount is immediately siphoned away by fraudsters.
If your total EMI payments exceed 35-40 per cent of your monthly income, use these strategies to avoid a Squid Game like debt trap, suggests Bindisha Sarang.
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
Under the proposed scheme, there will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.
Don't opt for the moratorium unless critical, advises Charlie Lee, founder and CEO, True Balance.
Pranjal Kamra, CEO, Finology Ventures, lists seven efficient ways to cope with the rise in EMIs even as you balance your monthly budgets.
Financial markets are under stress and require steps by the central bank for market stability and revival of economic growth, he said while announcing the decisions taken by the Monetary Policy Committee in Mumbai.
Most people taking a loan are not aware about what they would do in case they are unable to make the monthly payments towards the loan.
EMI sharing is arrangement whereby the home loan taker does not have to pay the EMI for the home loan as soon as the home loan is sanctioned. The developer building the property will pay EMIs on behalf of the home loan taker up to a predefined period, which is typically the period up to the possession of the property.
When you find that you are in a situation where you will not be able to meet your loan obligations, running away from the lender is the last thing you should do.
Loan insurance is a concept catching up in India. Most people taking a loan are not aware about what they would do in case they are unable to make the monthly payments towards the loan.
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
Understanding the calculations involved while computing the home loan eligibility has seldom been easy for individuals
Should you go for a salary structure with high basic component? Is there a flip side to it?
Loan protection insurance, or loan payment protection insurance, is a form of payment protection insurance. This type of insurance can help you protect your monthly loan payments if you become unemployed or suffer an accident or sickness.
The FIR was lodged at the Sector 20 police station on Thursday after the complainant, a Noida resident, alleged that her Amazon Prime account got hacked and the problem remains unresolved despite assurance from Amazon boss Jeff Bezos, an official statement said.
Move beyond making notes and Excel. With a little bit of discipline, a personal finance software can help you be your own money manager.
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.
The top court granted two weeks to the Centre and RBI to file the affidavit and place before it the decisions taken in this regard.
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