In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
Defying the bearish sentiment in the markets on Monday, ICICI Bank's share price rose by 2 per cent, reaching an intraday high of Rs 1,234.4 per share on the BSE. With a 1.5 per cent gain at the close, the stock emerged as the top performer on both the BSE Sensex and the National Stock Exchange Nifty 50 indices.
The Supreme Court of India has ruled that the offence of abetment of suicide should not be invoked mechanically against individuals, emphasizing that the provision should not be used to soothe the feelings of grieving families. The court stressed that the conduct of the accused and the deceased, their interactions, and conversations preceding the death should be examined practically and not divorced from real-life contexts. The judgment came after a plea challenging an order of the Madhya Pradesh High Court that refused to discharge a man from charges under Section 306 of the Indian Penal Code (IPC) related to a suicide case. The Supreme Court emphasized that to prove abetment of suicide, there must be evidence of active instigation or acts facilitating the suicide. In this case, the court found that the appellant's actions, including seeking repayment of a loan, did not constitute instigation to suicide.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
Indian companies will have to repay overseas debt worth $7.5 billion in the June quarter.
'The way the bank is doing in the past 4-5 quarters, no reason to see why we will not be able to achieve that.'
Adani group firm Adani Ports & SEZ paid Rs 1,500 crore loan and promised to repay more as the embattled conglomerate mapped a comeback strategy after a sellout triggered by a damning report by US-based Hindenburg Research. Adani Ports and SEZ paid SBI Mutual Funds' due amount of Rs 1,500 crore on Monday and will also pay another Rs 1,000 crore of commercial papers due in March (as per the payment scheme), a company spokesperson said. "This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said.
Banks offer to extend repayment tenures up to 25 yrs.
Canara Bank's CMD RK Dubey tries to dispel students' doubts on eligibility criteria, methods of loan repayment and more.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
While festive offers can reduce costs, borrowers should also consider the lender's transparency and service quality. Customers need to be mindful of their repayment capacity.
Last Monday, she termed the Centre's silence over loan repayment restructuring as a 'political vendetta' to ruin Bengal.
Are you facing problems with housing loans? If you are a first time home loan borrower, here's how you can save some money on your home loan.
'Opt for this facility only after doing a cost-benefit analysis: Will the savings in interest cost by parking your surpluses in the home loan overdraft account outweigh the higher interest cost of this loan?'
While both institutions provide financial assistance, there are significant differences between them in terms of offerings, eligibility criteria, interest rates, and other crucial factors.
The women's panel said it had come across several media reports about girls being auctioned off to settle disputes over loan repayments in Bhilwara.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
A home loan is a long-term contract, so do shop around before signing on the dotted line, advises Sarbajeet K Sen.
Contrary to popular opinion, there is no overall restriction of Rs 1,50,000 on the interest payable on a loan taken to acquire/construct a house property or in respect of more than one property.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Rising rates prompt extension by 10 more years; others may follow suit.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
US-based private equity firm Blackstone and Bengaluru-based real estate developer Sattva Group filed the draft initial public offer (IPO) papers for India's biggest real estate investment trust (Reit) named Knowledge Realty Trust to raise ?6,200 crore. The Reit will be the largest in India in terms of net operating income (NOI) and gross assets value (GAV).
The government is considering giving more time to farmers to repay their loans under the debt relief programme that allows parital loan waiver to large farmers.
To cater to home loan borrowers, housing finance companies and banks offer a variety of repayment options to suit an individual's need.
The accused, in the present case, alleged it was a case of a "long friendly relationship" turning sour owing to the woman failing to repay a loan he gave her.
In what could trigger another interest rate war, the Punjab National Bank has announced an array of concessions under its festival bonanza including 0.50 per cent cut in housing loans at 7.75 per cent.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Delhi-based electric vehicle (EV) ride-hailing firm Evera Cabs, which grabbed headlines after acquiring 500 cars from the now-defunct cab service BluSmart, is stepping up its presence in the EV cab segment. The company is aiming for revenue of Rs 100 crore in the ongoing financial year (2025-26), up from Rs 18 crore in 2024-25.
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
You need not worry about the long tenure as you can prepay the amount that is around 3-4 times your EMI periodically like once a quarter or when your year end bonus comes through.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
'Pakistan cannot sustain a war with India for more than four days. They are in such dire straits. At best they can sustain war for one week.'
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
Borrowers should be careful if the app promises too-quick disbursal, and doesn't provide adequate information on the terms of the loan, such as interest rate, repayment schedule, etc.
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