The three options are - a one-time settlement, restructuring of loans and of course go to IBC.
Interest rate and tenure are not the only two factors to consider.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
Past experience shows loan waivers benefited only 30% of India's farmers; here again, the richer cultivator skimmed the cream, leaving very little for his poorer brethren.
The Supreme Court on Friday refused to entertain former ICICI bank managing director and CEO Chanda Kochhar's plea seeking retirement benefits from the bank. A bench of Justices Sanjiv Khanna and SVN Bhatti said, "Not a case for interference. We are not inclined to interfere with the high court order. "The special leave petition is dismissed." At the outset, senior advocate Harish Salve, appearing for Kochhar said the high court had dismissed the petition without any discussion or finding.
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
'If we want real democracy, the economy itself will need to be democratised.'
Two persons were arrested in Surat in Gujarat for allegedly forging documents like Aadhaar and PAN cards as well as voter IDs using a website, in the process posing a serious threat to national security, a police official said on Monday.
The biggest challenge with public sector banks is the processing time, which is why starting early helps.
Private banks and start-ups offer instant loans on apps as well as through ATMs.
The country's largest lender SBI on Saturday reported a 9.13 per cent rise in consolidated net profit to Rs 16,099.58 crore for the September quarter, weighed down by money it had to set aside for employees' impending wage and pension revisions. On a standalone basis, the State Bank of India (SBI) had a 8.03 per cent increase in the profit after tax for the reporting quarter at Rs 14,330 crore. However, the same was down 15.13 per cent compared to Rs 16,884 crore in the June quarter.
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
If you have availed a home loan from an NBFC, you can shift your existing home loan to a bank and benefit from the MCLR regime, suggests Ratan Choudhary, head - home loans, Paisabazaar.com.
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.
Breeders and importers of exotic dogs worried; animal rights activists say the industry needs to be tamed.
One can't run away from death so this is the time that YOU must create your own death file. P V Subramanyam explains what you must know about this most essential financial tool.
Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
The Indian Olympic Association on Monday dissolved the ad-hoc committee for wrestling, saying "there is no further need" for it to continue after revocation of the suspension on the national federation, which now gets complete administrative control of the sport.
Farmers protesting to press the Centre for their various demands will stay put at the two protest sites on the Punjab-Haryana border till February 29 when the next course of action will be decided, their leader Sarwan Singh Pandher said on Friday.
Just in case you have surplus funds and are thinking about it, here are some pros and cons you must know...
While there is easy access to money, the flip side is the high interest rate and processing fees, points out Sarbajeet K Sen.
Every banker loves the four-letter word Casa as it plays an important role in lowering the cost of deposits. Every bank wants to increase its Casa, as a higher portion of Casa in the overall deposit liability brings down its cost of money, points out Tamal Bandyopadhyay.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
You will be much better off buying the required plans directly from life and general insurers, experts tell Chirag Madia
'The last year's growth is a foretaste of things to come in the retail credit market.'
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
Customers need to weigh whether they will be better off selling their mutual fund holdings or taking a loan against it.
If you default, it will affect your credit score and your career.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
Nitin Bhatnagar, a Maltese citizen and a former relationship manager of the Bank of Singapore, was taken into custody under the provisions of the Prevention of Money Laundering Act on Tuesday.
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
'For the first time ever it has come below 1 per cent, at 0.97 per cent.'
The Reserve Bank of India has issued several warnings that the public should not fall prey to such unscrupulous activities and verify the companies offering loans online and through apps.
A Mumbai court on Tuesday rejected a bail plea of businessman Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar and an accused in a money laundering case. He was arrested by the Enforcement Directorate (ED) in September under the Prevention of Money Laundering Act (PMLA) in the alleged ICICI Bank-Videocon money laundering case. Special PMLA judge P P Rajvaidya rejected the `regular' bail application of Deepak Kochhar, filed on merits of the case as against technical grounds.
The Supreme Court on Monday awarded a four-month sentence to fugitive businessman Vijay Mallya, accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case.
Being driven to abandon Indian middle-class values, asks Ajit Balakrishnan.
The agency filed its affidavit in response to Goyal's habeas corpus (produce the person) petition in which he claimed he was illegally arrested by the ED in the case.
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