rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
MPs, state legislators and government employees will not receive the benefit of loan waiver.
You will be much better off buying the required plans directly from life and general insurers, experts tell Chirag Madia
Consider prepaying or shifting but do the homework, as it makes sense or not, depending on where you've reached on the tenure.
Terming whistleblower allegations on loan evergreening as "grossly inaccurate and baseless", Indusind Bank on Saturday admitted to have disbursed 84,000 loans without customer consent in May owing to a "technical glitch". Lending without the consent was reported by the field staff in two days, and the glitch was also rectified expeditiously, the private sector lender said in a clarification. On Friday, there was a media report about anonymous whistleblowers writing to the bank management and the RBI about BFIL, the microlending-focused subsidiary of the bank, allegedly resorting to evergreening of loans, wherein existing borrowers unable to pay dues were given new loans to present the books as clean.
Talking about home loan rates, there is good news for borrowers.
Yes, you need to be safe when dealing with third party agents who act as intermediaries between you and the lending institutes.
A senior IDBI Bank official allegedly conspired with businessman Vijay Mallya for sanction and disbursement of loan to the latter's Kingfisher Airlines, the Central Bureau of Investigation said in its supplementary chargesheet filed in a Mumbai court. Mallya is an accused in the alleged Rs 900-crore IDBI Bank-Kingfisher Airlines loan fraud case, which is being probed by the CBI. The Central agency had recently filed a supplementary chargesheet before a special CBI court.
This generated thousands of fraudulent and otherwise defective residential mortgage loans sold to Fannie Mae and Freddie Mac that later defaulted, causing over $1 billion in losses and countless foreclosures.
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.
India's external debt rose marginally to $629.1 billion at June-end 2023, although the debt-GDP ratio declined, according to a Reserve Bank data released on Thursday. The debt rose by about $4.7 billion from $624.3 billion at March-end. "The external debt to GDP ratio declined to 18.6 per cent at end-June 2023 from 18.8 per cent at end-March 2023," RBI said.
A top-up loan could come to your rescue in an emergency. Here's why
Shelar demanded that Desai's death should not be treated just as a case of accidental death, but must be dealt with from a larger perspective.
Global ratings agency, Fitch Ratings, said the 180 days past due (dpd) two-wheeler loans (loans where EMIs are overdue for over 90 days) have reached as high as 6 per cent of original principal outstanding in some pools.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
All public sector banks have moved to such a regime voluntarily, while private banks are yet to. The state-run banks have introduced repo-linked products for floating-rate home and auto loans, but the RBI said loans to micro, small and medium enterprises (MSMEs) should also be linked to an external benchmark.
Bad loans continue to originate mainly from state-owned banks, where the top management's responsibility is not linked to career prospects nor has legal consequences, says Debashis Basu.
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
Poor earnings show in the September quarter (Q2FY24), with hints of likely weakness in asset quality going ahead, forced analysts to cut earnings estimates of SBI Cards and Payment Services (SBI Card). On the bourses, shares of the State bank of India arm tumbled 7.4 per cent to Rs 732 apiece on the BSE in the intraday trade as investors factord in near-term concerns. Analysts at Motilal Oswal Financial Services, for instance, slashed SBI Card earnings by 8 per cent and 10 per cent for FY24 and FY25, respectively, as they expect the company to face pesistent magin pressure.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
When does it make sense and when does it not?
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
This relaxation is available to entities running working capital accounts with any bank with the sanctioned limit of Rs 1 crore or less
The petition was filed in 2003 by NGO Centre for Public Interest Litigation.
The rubber and tourism industries in the state, to which the bank has exposure, have been hit.
However, the Trump administration has left it for the State Department to take a final call on the issue.
Remember to take important documents like no dues certificate.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
Companies with more than Rs 10,000 crore of debt would seek refinancing.
Home loan cover from the lender may not be the best option
Farm loan waiver has been presumed to be inflationary. But the short-term consequences are likely to be quite deflationary.
The stress associated with getting a loan and then paying it back can be substantially cut down if you plan well and understand the factors associated with the education loan
State Bank of India on Wednesday said it did not have any immediate plans to revise its home loan rates, including that of the 8 per cent special scheme originally slated to end this week.
The exhibition of artefacts -- in physical and digital form -- has been set up on the same floor where the leaders' meetings took place.
It is not very easy to wriggle out of your role as a guarantor in case the original borrower defaults. Nevertheless, you can still come out of the situation with your credit record intact.
3i Infotech said on Monday it has bagged an order from Malaysia-based financial institution for SMEs Credit Guarantee Corporation for its universal lending solution -- Kastle.
To understand Modi, listen to what he does not say -- vide NRC, suggests Prem Panicker.
