You would find NBFCs more willing to lend even if you have a poor credit score, says Adhil Shetty
Prospective buyers must make a well-considered decision regarding whether this is the right time to buy a house, particularly with home loan rates at near-peak levels, and the risk of job losses looming in many sectors.
Global rating agency Fitch said on Monday that bank credit growth in excess of 13 per cent year on year in FY23 could put pressure on core equity tier ratios (CET1) of banks, especially public sector lenders. It may limit the buffers of Indian banks to absorb potential future losses. Bank credit expanded by 11.5 per cent in FY22. Full-year loan growth for FY23 will represent a modest slowdown from the 17 per cent YoY pace in H1FY23.
'If taxpayers have not filed a belated ITR, they will be allowed to file an updated ITR from April 1, 2024.'
The Reserve Bank has found gaps in banks' corporate governance despite issuing guidelines on the matter, Governor Shaktikanta Das said on Monday. Addressing directors of bank boards, Das said such gaps, which have been mitigated, could have caused "some degree of volatility". He also hit out strongly against "smart accounting" to conceal stress and bloat financial performance.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
The recent revelations of financial irregularities, as in real estate firms allegedly involved in a loan syndication bribery case and the 2G telecom licence scam, may impact credit flow.
Benchmark rate for new loans to be lower by 80-90 bps from Friday; move could increase competition but hit commercial papers.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
For women, it is important to build an emergency fund and a financial independence fund independent of the couple's joint goals and plans.
There will be an automatic reduction in interest rates of all floating rate loans anytime soon.
.jpg)
A discount on the product may make a credit card loan seem cheaper than a consumer durable loan. But missing a payment in case of the former will mean exorbitant charges.
Before taking the plunge and being a co-applicant, make sure that you are aware of the rights and responsibilities that come with it!
Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar on Tuesday approached the Bombay high court, calling their arrest by the Central Bureau of Investigation in a loan fraud case illegal. The high court, however, refused to grant an urgent hearing and directed the Kochhars to mention the matter before the regular bench once it resumes after vacation. A lawyer representing the Kocchars said that no prior sanction, as required under the law, was obtained by the CBI before their arrest.
Rishi Mehra explains the pros and cons of buying a used car on either car loan or personal loan
Freebies being doled out by the Madhya Pradesh and Rajasthan governments ahead of the assembly polls Friday came under scrutiny by the Supreme Court which sought responses from the two states, the Centre and the Election Commission on a PIL alleging misuse of public money.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
Applying for a home loan requires preparation on various fronts.
Nobody is held accountable for lapses, no matter how badly it affects the person or business whose accounts are frozen. Nor is there compensation for losses. Most people get to know their accounts are blocked only when a cheque bounces, points out Debashis Basu.
The ED wants to question Varsha Raut with regard to "receipt" of some funds that were allegedly siphoned from the bank, official sources claimed.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
It takes a longer time to avail of these loans, owing to tight due-diligence process of banks.
Co-signing a loan is a huge responsibility and can impact you greatly. Here's what you need to know before your generous streak gets the better of you!
By consolidating borrowings, the total EMI burden and interest cost can be reduced.
The ED had summoned Patel, 70, twice for questioning in the case but the Congress Rajya Sabha MP from Gujarat later cited prevailing COVID-19 guidelines that advises senior citizens to stay indoors in order to remain safe from the pandemic.
The Kochhars were arrested by the Central Bureau of Investigation (CBI) last Friday. Dhoot was arrested on Monday. The three were produced before special judge S H Gwalani at the end of their earlier remand on Thursday.
When opting for any loan, make sure you read the terms and conditions carefully, and understand the 'other charges' to avoid any disappointment at a later stage.
Lenders now use your phone data, utility bill payment records and other non-traditional parameters to determine if you are creditworthy.
RBI said that it has decided that banks may refinance such loans by way of full or partial take-out financing.
Sell the property if bought for investment purpose.
You will come across many a hurdle while purchasing a used car. That, however, cannot keep you away from realising your dream.
Markets regulator Sebi on Monday barred Essel Group chairman Subhash Chandra and Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka from holding the position of a director or key managerial personnel in any listed company for siphoning off funds of the media firm. The case pertains to Chandra, who was also the chairman of ZEEL during the alleged violation, and Goenka having abused their position as directors or KMPs of a listed company for siphoning off funds for their own benefit. In its interim order, Sebi noted that Chandra and Goenka alienated the assets of ZEEL and other listed companies of Essel Group for the benefit of associate entities, which are owned and controlled by them.
But before borrowers jump in joy they must know about the drawbacks too!
These decisions by NHB will come into effect immediately and will cover all housing finance companies including LIC housing finance.
RTI activist Anil Galgali had asked SBI about the total amount of loans given to the beleaguered businessman.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
A dummy's guide to all you must know about before availing an education loan
Harshala Chandorkar, senior vice president, CIBIL, answered readers' queries on the risks related to guaranteeing a loan in an online chat with readers, January 27
While existing base rates and loans linked to it will continue, new loans will be linked to the MCLR, which is likely to be lower
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances