There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Nominations and addresses are of paramount importance in bank accounts, insurance policies, mutual funds, etc.
How will the RBI announcement on loan moratorium work for those with home loans, auto loans, personal loans, consumer durables loan? Here's what experts have to say.
Karnataka Minister for Sugar and Agriculture Marketing Shivanand Patil's statement that farmers wish for repeated droughts in the state so that their loans get waived has caused a stir, with the opposition on Monday terming it as an 'affront' to the farming community and seeking his removal from the Ministry.
Indian students planning to study abroad this year have to pay higher fee, fund their quarantine stay and also compete for on campus work opportunities.
The finance ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans.
In its FIR filed recently, the CBI has named Khattar and his company Carnation Auto India Limited for allegedly causing a loss of Rs 110 crore to Punjab National Bank.
The Reserve Bank of India (RBI) has clarified that loans which have remained standard without any defaults as of March 1, 2020, will be eligible for restructuring under the pandemic-related resolution framework issued in August.
Commercial banks in the country continued with their improving asset quality trend in the October-December 2021 quarter with slippages remaining under control coupled with healthy recoveries and upgradation of asset classification. The 28-listed banks reported improvement in bottom line with net profits rising 64.1 per cent year-on-year (YoY) and 21.5 per cent sequentially. This is mostly on account of a fall in provisions and contingencies.
The Supreme Court is likely to pronounce on Monday the quantum of sentence against fugitive businessman Vijay Mallya, an accused in the bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case where he has been found guilty. A bench comprising Chief Justice Uday Umesh Lalit and Justice S Ravindra Bhat on March 10 had reserved its order on the punishment in the contempt case against Mallya, saying the proceedings against him have hit a "dead wall". The top court had heard senior advocate and amicus curiae Jaideep Gupta on various aspects related to the contempt law and the punishment, and had granted one last opportunity to lawyer Ankur Saigal, counsel for Mallya, to file his written submissions on the sentencing aspect.
Pep Guardiola has apologised to Kalvin Phillips for saying the midfielder was overweight
'We are sure FY25 is going to be better...But to call out that all problems are behind us is a bit early.' 'The underlying business sentiment has not changed significantly.'
The IPL loan window started on Monday and will end with the conclusion of the league stage.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
Why various loans are disbursed differently...
'Opt for this facility only after doing a cost-benefit analysis: Will the savings in interest cost by parking your surpluses in the home loan overdraft account outweigh the higher interest cost of this loan?'
'Five months after the elections in February 2024, the Pakistan army has not been able to break Imran Khan's resolve and break his political party.'
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
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.
Announcing yet another pre-poll "guarantee" in Gujarat, Aam Aadmi Party convener Arvind Kejriwal on Friday said his party, if voted to power in the state, will waive farm loans and also create a mechanism to buy produce from farmers at Minimum Support Price (MSP).
'We tightened our risk frameworks once the Covid crisis started.' 'We are slowly lightening this as we see economic activity pick up, salaries getting restored, and people getting back into jobs.'
'Save the entire chain of e-mail exchanges so that you have documented evidence to show you informed the bank about the issue.'
The Delhi high court on Monday directed Trinamool Congress leader Saket Gokhale on Monday to apologise and pay Rs 50 lakh damages to former diplomat Lakshmi Murdeshwar Puri, wife of Union minister Hardeep Singh Puri, for his defamatory tweets against her over the purchase of a property in Switzerland.
Banks may become more cautious in extending loans, as more and more farmers may take loans, relying on the assurance that a debt relief commission will back them in the event of default.
Pratik Gandhi once again proves that he is an actor who can bring any character to life with his dedication to his craft and instinctive understanding of what the role requires, observes Deepa Gahlot.
A total of 161.30 acres of land, plant, machinery and building of the Kannad Sahakari Sakhar Karkhana Limited (Kannad SSK) located in Kannad village of Aurangabad district has been provisionally attached under the Prevention of Money Laundering Act (PMLA), the ED said in a statement.
Despite declining by three percentage points in 2022-23 (FY23) compared to FY19, Odisha's unemployment rate remains higher than the average in India.
'A mule operates someone else's account to transfer illegal money.'
ECL Finance Company MD and three officials were on Tuesday quizzed for nearly eight hours by the Raigad police in Maharashtra probing the alleged suicide of film art director Nitin Desai, an official said.
To increase the adoption of credit on United Payments Interface (UPI), National Payments Corporation of India (NPCI) is looking at an interchange fee for transactions lower than that for a credit-card transaction. Sources in the know said these charges could be 1-1.2 per cent. Fintech participants concur with the view that the interchange fee is expected to be lower than that for a credit-card transaction.
Analysts say large firms in these segments don't need loan recast due to the efficient manner in which many of them operate.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
For the first time, consumers, including those at the so-called bottom of the pyramid, are monetising gold by taking loans from banks, offering the yellow metal as collateral, says Tamal Bandyopadhyay.
Sidbi acquires Ahmedabad-based start-up at hefty premium; founders deny link to govt.
Jet Airways founder Naresh Goyal's cancer was at a preliminary stage and not life threatening, a special court said here on Thursday while refusing to grant him interim bail on medical grounds. The court, however, permitted Goyal, arrested in a money laundering case, to undergo cancer treatment at a hospital of his choice for two months. Goyal (74), who is lodged in Arthur Road jail in central Mumbai, had sought to be released on interim bail to undergo treatment for cancer.
The top 50 exposures, amounting to Rs 7.8 trillion, of government-registered non-banking financial companies (G-NBFCs) constitute about 40 per cent of corporate credit within the NBFC sector, indicating concentration risk, according to the Reserve Bank of India's report "Trend and Progress of Banking in India 2022-23". Notably, all the 50 are tied to the power sector, a domain fraught with inherent challenges, the report said. The report highlighted recognising the escalating systemic importance of G-NBFCs, the Prompt Corrective Action (PCA) framework had been expanded to include G-NBFCs excluding those falling within the base layer.
Make children realise that money is earned through hard work and used to buy necessary things.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
The agency is also investigating the overall financial structure of Kingfisher Airlines.
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