Bad loans in the peer-to-peer (P2P) lending industry more than doubled in financial year 2024 (FY24) to Rs 1,163 crore from Rs 472.1 crore in FY23, said a financial services company on Monday. Non-performing assets (NPAs), as such loans are officially called, were a modest Rs 14.7 crore at the end of FY19 when P2P lending was in its nascent stage, according to Capitalmind Financial Services that accessed data from the Reserve Bank of India (RBI) through a right to information application.
Whether she will pare the fiscal deficit target of 5.1 per cent of GDP, using the record dividend received from the RBI, or expand flagship government programmes will be keenly watched.
Union Finance Minister Pranab Mukherjee on Sunday assured that West Bengal would be provided all assistance to tide over its financial crisis.
Asia is rebounding fast from the global financial crisis.
Unemployment has been rising among the young, with authorities suspending data disclosures after youth unemployment crossed 20 per cent.
A customer wanting to buy a car would have to wait a long time for delivery.
For the financial sector to serve the real sector, yesterday's beliefs offer no road map for tomorrow's policy options, says Yaga Venugopal Reddy.
Former MP Sanjay Nirupam on Thursday took a swipe at the Congress leadership over his expulsion, claiming it was done after he sent his resignation letter to the party.
The review will now make it mandatory for the world's top 25 financial economies to undergo IMF's surveillance. The check-up was earlier voluntary in nature.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
The financial sector has been deeply troubled since 2013. It is now in a full-blown crisis, warns Devangshu Datta.
If Beijing succeeds in this multipronged effort to challenge the current dominant power, it will have not just economic but political and security consequences. There is no let-up in the South China Sea nor any de-escalation moves on the India-China border. This portends to ominous signalling from Beijing, observes China expert Srikanth Kondapalli.
The sweeping tariffs proposed across sectors by US President Donald Trump are scheduled to be imposed starting April 2, with most analysts worried about their impact on companies, and in turn the financial markets. Recently, the US administration signaled that it will impose sectoral tariffs on energy, pharmaceuticals, semiconductors, agriculture, copper, and lumber.
'Presumption of innocence must guide all formal actions, but transparency must not be mistaken for pre-judgment.' 'The cruel irony, however, is that Justice Varma is a fine judge who enjoys a reputation for writing well-reasoned judgments.'
'You must be good at using AI as a tool of learning but do not give up your own critical thinking.'
Any assessment of Goldman Sachs' alleged "fraud" is likely to run into two problems. First, the armada of jargon that surrounds the financial derivatives market could mean that the essence of the case is lost in translation, leaving the non-specialist bewildered as to the exact nature of the Wall Street giant's alleged perfidy.
Pahalgam Terrorist Attack: Dombivli families shattered in grief and grit. Demand dignity, justice and answers to unanswered questions.
At least three countries Brazil, India and China fared well during the current economic crisis that has engulfed the world in the past two years, mainly because of inherent strengthen of their economies, a Congressional oversight panel has said.
A local official confirmed the incidents but said the causes of these suicides were yet to be ascertained.
Australia limited-overs captain Aaron Finch hopes his team can bring some joy to cricket fans in Sri Lanka amid the island nation's worst financial crisis in over seven decades.
The German football body will decide on the criteria for the distribution of the solidarity fund.
The subprime crisis and the ongoing financial crisis and the economic downturn may get worse before it gets any better in the American economy and the effect might as well spill over to 2010, warned American economist James R Barth.
The top court on Monday directed the protesting resident doctors to resume work by 5 pm on Tuesday, observing that if "there is continued abstention from work, there may be a likelihood of adverse action".
The minister didn't specify the extent of reduction the government is planning on making in the immigration system.
Cooler weather meant that demand for milk products and value-added items like buttermilk and ice-cream did not show the usual rise.
But the atmosphere is now conducive for the Mahayuti to continue in power in Maharashtra thanks to the government's people-centric schemes, while the opposition Maha Vikas Aghadi (MVA) is giving promises that it cannot execute, he said.
Finance plays a key role in bringing the ambitious growth plans of dynamic businesses to life.
Rich countries will use the Doha Round to shift the pain of the financial meltdown to developing countries.
The Congress maintained that the state government had not ordered any such inquiry and it could be an internal matter of the CID. A top CID official has also said that no formal inquiry was ordered into the incident.
The MLA claimed his name had figured in the list of nine ministers of NCP, including Ajit Pawar who took oath last Sunday.
Asian financial institutions have remained relatively unaffected by the global financial crisis, with their write-downs constituting just six per cent of the worldwide credit losses, estimated to be $300 billion so far, a latest report said.According to rating agency Crisil, most Asian financial institutions and global institutions with dominant exposure in Asia have remained relatively unscathed as they were shielded by their asset mix.
Within days of assuming charge, he faced allegations of having made RBI the finance ministry's extension counter.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers. Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.
Vinod Kambli revealed that his childhood friend Sachin Tendulkar came forward to help him financially during his surgeries following a heart attack in 2013.
"I feel governments still see bull markets as good, and bear markets as bad but excessive bull markets create bear markets, and only timely intervention can help overcome the crisis," says R Subramanian, managing director, Subhiksha, one of the largest retail chains in India.
India on Friday reacted cautiously to the financial crisis in Dubai, caused by debt repayment crisis of a state firm, saying it would examine the extent of the problem, but maintained that no impact was visible as of now.
Mental health experts and counsellors highlight how to identify early signs of distress in children and what parents and peers can do to prevent someone from taking their life.
Referring to the current global meltdown, Chidambaram said, "There is a storm blowing in the world. We did not not create the storm. We are facing the spillover effects or the ripple effects of the storm. "The weekend is a good time for people to reflect. Firstly, those who have money. . . there have been wage increases for the government servants, and many have received Diwali bonuses", he said.
