A provisional order has been issued under the Prevention of Money Laundering Act against the newspaper's publisher Associated Journals Ltd and its holding company Young Indian, the central probe agency said in a statement.
Many house owners are not aware of this option and hence end up taking personal loans to renovate their homes
High loan-to-value and high-yield buckets have reported higher delinquencies
For a borrower, who has serviced his loan without missing any repayment, the banks will be willing to take over the loan, give a top-up, and would offer lower interest rates, says Tinesh Bhasin.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
India failed to extract the 'price' from Pakistan for its Kargil misadventure.
The price could have been military in terms of loss of territory/soldiers/equipment or destruction of terrorist training infrastructure. Giving a 'face saving' option to Pakistan proved disastrous for the future, asserts Colonel Anil A Athale (retd).
HDFC Bank has been conscious in not accepting high-cost deposits, which have resulted in slower growth in October-December, said Sashidhar Jagdishan, managing director and chief executive officer, during an interaction with Goldman Sachs recently. He said during times of tight liquidity, short terms hardened, as was the case in October-December. "Not only did we participate, but we also gave up which came up for maturity," he said.
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
Due to the prevailing uncertainty, the risk of loans going bad has certainly increased. This may result in lenders following risk-based pricing more diligently, notes Naveen Kukreja, CEO, Paisabazaar.com
The Bombay high court has directed a working woman to pay monthly maintenance of Rs 10,000 to her former husband who is unable to earn due to his ailments.
You can build your credit score and get tax benefit, but defaulting will make life difficult.
The state government filed the special leave petition in the top court on March 11 against the high court's decision.
If you're a beginner eager to embark on wealth-building journey in the real estate sector, Karan Shetty shares this comprehensive guide on how to get started.
The Central Bureau of Investigation has booked HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, along with other directors and auditors in the firm, in an alleged Rs 200-crore loan fraud in Yes Bank involving Mack Star, officials said Friday.
SBI Q3FY24 result review: A higher-than-factored weakness in the October-to-December quarter (Q3) results of State Bank of India (SBI), for financial year 2023-24 (FY24), has prompted brokerages to cut earnings estimates for the ongoing financial year. They, however, have maintained 'Buy' ratings on the stock, revising target price upwards in some cases, owing to the stock's recent underperformance relative to its peers.
Unlike the earlier experience post the global financial crisis, where nearly 90 per cent of the restructuring happened in the corporate loans, the non-corporate segment, which includes small businesses, agricultural loans and retail lending, will account for a higher share this time.
The Reserve Bank on Thursday proposed tighter norms for treatment of wilful defaulters under which banks and other lenders will be required to examine all accounts with outstanding amount of Rs 25 lakh and more to see if the borrower is deliberately not repaying the loan. The central bank has issued a 'Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters' on which comments have been invited till October 31. According to Reserve Bank of India (RBI), the draft Master Direction expands the scope for regulated entities which can classify borrowers as wilful defaulters and broadens the definition of wilful default.
The Supreme Court on Monday sought response of former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar on a plea of the CBI challenging the interim bail granted to them by the Bombay high court in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi issued notice on the plea of the CBI and sought the response of the couple in three weeks.
The bottom lines of several private sector banks have taken a hit following the recent guidelines released by the Reserve Bank of India (RBI) on alternate investment fund (AIF) investments. Last month, the RBI announced that regulated entities, such as banks, non-bank lenders, and home financiers, cannot invest in AIFs that have directly or indirectly invested in companies that have borrowed money from the lenders. In case an entity had already made such an investment, they must liquidate the investment or make 100 per cent provision, RBI had said.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
A personal loan can score over a loan against gold in some cases, if you compare the interest rate, tenure and charges for the two products.
Gross bad loans of banks may rise from 6.9 per cent in September 2021 to 8.1-9.5 per cent by September 2022 if the Omicron variant strikes the economy hard, as per the financial stability report of the Reserve Bank released on Wednesday. The report also said that the rising stress level in the retail loan portfolio of banks -- the mainstay of bank credit for many years now -- was led by home loans, which grew in double-digits so far this fiscal. While asset quality improved, with gross non-performing assets (GNPA) and net NPA (NNPA) ratios declining to 6.9 and 2.3 per cent, respectively, in September 2021, the slippage ratio inched up during the same period as private sector banks showed a higher rate of deterioration in asset quality, as per the report.
The Supreme Court on Tuesday questioned the CBI over not objecting to repeated extension of the two-week interim bail granted in January this year to former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi asked Additional Solicitor General SV Raju, appearing for the CBI, as to why the probe agency did not resist repeated extension of interim bail granted to them by the Bombay high court on January 9. "This order is of January 9 and interim bail was granted for only two weeks. Why have you not resisted? Why are you permitting it to continue for such a long period?
'Mostly, the relief, if needed, would be for housing loans where a person has lost a job and is unable to pay his EMI or there has been a temporary salary cut.'
GNPAs of public sector banks are now at a staggering 11.2 per cent of their advances.
Finance Minister Nirmala Sitharaman has rebutted Congress leaders Rahul Gandhi and Randeep Singh Surjewala's allegations regarding "wilful defaulters, bad loans and write-offs", and stated that they have "attempted to mislead people in a brazen manner".
The lawyer of Videocon Group promoter Venugopal Dhoot on Friday argued before the Bombay high court that the industrialist's arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the probe. The Central Bureau of Investigation (CBI), on the other hand, claimed that he was trying to avoid probe. Dhoot, arrested by the CBI on December 26, 2022, and presently in judicial custody, has moved the high court seeking to quash the First Information Report, and has also sought interim bail.
ED is probing Mallya and KFA under anti-money laundering laws in connection with a Rs 900 crore (Rs 9 billion) loan default of IDBI bank
Prime Minister Narendra Modi Wednesday took the Congress to the cleaners over making the 2024 general elections about the protection of the Constitution, saying Indians voted on the plank only once when they threw out the Indira Gandhi government in 1977 after the Emergency.
Several players across the continent are poised to make a name for themselves on the international stage.
A panel of Union ministers will hold a fourth round of talks with farmer leaders in Chandigarh on Sunday over their demands, including loan waiver and bringing an ordinance on giving legal guarantee to a minimum support price (MSP) for crops.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
Police on Friday used tear gas to disperse Haryana farmers heading towards Khanauri on Punjab's border with the state where farmers, mostly from Punjab, have been camping since last week after their 'Delhi Chalo' march was halted by security forces.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
Arivandakshan's arrest is the first of a political person in the alleged scam in which several political functionaries of the CPM are under scanner, they said.
Streedhan refers to gifts, money or property that a woman receives before her marriage, at the time of her marriage, during childbirth or widowhood, primarily from her parents, relatives or in-laws.
A close look at the pros and cons of gold loans and why they could be a better option than personal loan.
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