'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
According to his father, he had repaid Rs 3 lakh of the loan amount.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
The Congress shared a video clip from a recent podcast Mallya did with social media influencer Raj Shamani in which he claimed he had informed Jaitley before leaving India in 2016.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Vedanta Resources (VRL), the diversified mining company headquartered in London, is giving final touches to a plan to raise up to $2.5 billion (about Rs 20,800 crore) as debt repayment deadlines near. The company owned by billionaire Anil Agarwal plans to do this by a combination of instruments, including issuing preference shares in the holding company to a slew of offshore investors from West Asia, and taking on another loan to refinance older debt at a higher interest rate. VRL, which is the group's holding company, is also looking to sell part of its 63.71 per cent stake in the Indian listed subsidiary Vedanta Ltd to meet funding requirements, said a banker close to the development.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Wedding planner WedMeGood estimates that the average wedding budget has surged to Rs 36.5 lakh this year, with destination weddings averaging Rs 51 lakh.
A 24-year-old man killed his employer's wife and teenage son in Delhi's Lajpat Nagar after being publicly scolded for not repaying a loan. The accused, Mukesh Kumar, was arrested while trying to flee.
Enterprising women business correspondents, known as BC Sakhis, have facilitated transactions worth Rs 27,000 crore in Uttar Pradesh, earning Rs 75 crore in commission over the past four and a half years. BC Sakhis, appointed under the nationwide women empowerment programme, are members of self-help groups (SHGs) who are trained and certified to provide banking and financial services in rural areas.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
State-owned Life Insurance Corporation (LIC) on Thursday entirely subscribed to the Rs 5,000 crore bond issue of Adani Ports and Special Economic Zone (APSEZ) at a coupon rate of 7.75 per cent, said sources privy to the development.
India is working closely with Belgium to extradite fugitive diamantaire Mehul Choksi, who was arrested in Antwerp on Saturday based on a formal request from the Indian government. Choksi is wanted by Indian probe agencies in connection with a Rs 13,500-crore bank loan fraud case involving the Punjab National Bank (PNB). His nephew, Nirav Modi, is also facing extradition proceedings in the UK.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
Edelweiss ARC, in a statement, denied that any undue pressure was brought to bear on Desai for loan recovery.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Personal loans and credit card loans provide quick access to money when it is urgently needed, but they also carry risks for borrowers.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Tata Power Renewable Energy Ltd (TPREL) has partnered with Bank of Baroda to offer financing for residential rooftop solar projects under the PM - Surya Ghar Muft Bijli Yojana. The partnership aims to make clean energy solutions accessible to households across India. Customers can avail loans up to Rs 6 lakh at an interest rate starting at 7 per cent per annum. The scheme offers flexible repayment tenures and requires a margin contribution of 10-20 per cent depending on the installation size.
HDFC Bank on Sunday said that it will "pursue all lawful remedies" to recover public funds and address the retaliatory actions taken by the Mehta family of the Lilavati Kirtilal Mehta Medical (LKMM) Trust, which has filed a complaint against the bank's managing director (MD) & chief executive officer (CEO) Sashidhar Jagdishan alleging financial fraud.
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
Raising overseas debt has become prohibitively expensive due to the depreciating rupee.
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
Prashant A Bhonsle explains the tax benefits you can avail under Section 80E of the Income Tax Act.
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. "We have asked banks to undertake comprehensive review of the gold loan business," financial services secretary Vivek Joshi told PTI.
TDP President N Chandrababu Naidu on Tuesday asked women not to repay loans they secured from Micro-Finance Institutions (MFIs) till the government brought in a regulator to keep a tab on the financing business.
Home loan interest rates are getting costly again. How do you cope with rising prices?
This relaxation is available to entities running working capital accounts with any bank with the sanctioned limit of Rs 1 crore or less
What constitutes a loan default and what happens when a borrower defaults on a car loan? Read on to find out
The opposition Maha Vikas Aghadi on Sunday released its manifesto for the Maharashtra assembly polls, promising free cervical cancer vaccines for girls aged 9 to 16 and and two optional leave days for women employees during menstruation.
Borrowing from a fraudulent loan app subjects the borrower to a variety of risks.
Markets regulator Sebi has notified a stricter regulatory framework for small and medium enterprise (SME) IPOs by introducing a profitability requirement and capping a 20 per cent limit on offer-for-sale (OFS). The reforms aim to provide SMEs with a sound track record an opportunity to raise funds from the public while protecting investor interests. This move follows a rise in SME issues, which has driven significant investor participation.
'Try to obtain a secured personal loan or credit card by offering some collateral, such as a fixed deposit or gold.' 'Not only will this improve your eligibility, but the lender may even offer a lower interest rate.'
Use credit cards with discretion and try to generate a net monthly surplus to avoid falling into a debt trap
State-owned Bank of Baroda on Monday said actor Sunny Deol has offered to settle the dues related to his bungalow in Mumbai.
Embattled Adani Group on Monday said it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a Credit Note released on Monday, Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another $700 million in loans taken for the acquisition of Ambuja Cement. "The prepayment was done along with interest payment of $203 million," it added.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Recently, there have been reports that the government is working on a scheme to offer education loans at a minimum rate of interest of 4 per cent.
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