In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
Just 40 per cent of India Inc's forex loans are hedged.
Banks face the grim possibility of a chunk of the unhedged loans turning bad.
Families of illegal immigrants from Punjab who were deported from the US are facing a crushing debt they took to facilitate their travel to America. They allege that travel agents used unfair means to facilitate the youths' travel without their knowledge and are seeking strict action against them. The families are burdened by the debt they took on hoping for a better future and are appealing to the government for help.
The Reserve Bank on Thursday said Indian companies may find it difficult to repay loans as rising input cost is putting pressure on their profit margins.
To minimise hardship for legal heirs, home loan borrowers must purchase additional insurance cover while taking a home loan.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Prashant A Bhonsle lists 5 major points you need to keep in mind before applying for a student loan.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
Retirement planning and secondary sources of income have become key financial priorities for Indians, as they look to prepare for higher inflation, health concerns, and economic slowdown risks. PGIM India Mutual Fund's Retirement Readiness Survey shows that at present 67 per cent Indians have their retirement plan in place, compared to 49 per cent in 2020. "The pandemic was probably the factor making people realise the importance of saving and investing, leading to an increase in people planning for it.
'Earlier, our cost of funds was higher than most in the peer group.'
An increased brand fee paid by India-listed Vedanta, apart from record dividend, has helped Vedanta Resources (VRL) - the London-based holding company of Vedanta Group - to repay part of its debt. Vedanta paid a brand fee of Rs 2,632 crore ($325 million) for 2022-23 (FY23), according to Nomura report. This was after the Anil Agarwal-owned holding company raised the brand fee to 2 per cent of the turnover for its Indian businesses in 2021.
rediffGURU T S Khurana answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Concerned over the practice of banks and Non-Banking Financial Companies (NBFCs) using penal interest as a revenue enhancement tool, the Reserve Bank on Friday came out with modified norms, under which lenders would be able to levy only "reasonable" penal charges in case of default in repayment of loans. The banks and other lending institutions will not be allowed to levy penal interest with effect from January 1, 2024, the RBI said in its notification on 'Fair Lending Practice-Penal Charges in Loan Accounts'. "Penalty, if charged, for non-compliance of material terms and conditions of loan contract by the borrower shall be treated as 'penal charges' and shall not be levied in the form of 'penal interest' that is added to the rate of interest charged on the advances," RBI said in a notification.
The public sector unit had borrowed Rs 7,500 crore (Rs 75 billion) in the last one month to pay the government for acquiring 3G and Broadband Wireless Access spectrum in the two metros of Delhi and Mumbai.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
For 100 low-income families near Lonavala, around 80 km from Mumbai, Jimmy Carter was a godsend as he had helped build their houses in 2006.
Banerjee, who had been demanding a waiver of interest on the state's debts for a period of three years, said even a year's moratorium on repayment of interests on central loans would enable the state to create 10 lakh (1 million) jobs.
The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
Punjab National Bank on Monday reduced the interest rates on housing loans. Under the floating option, 8% interest will be charged on loans repayable in 5 years, 8.75% for 5-10 years, 9.25% for 10-20 years and 9.75% for 20-25 years.
'If our Budget allows, we may implement both measures -- making income up to Rs 10 lakh tax-free and introducing a 25 per cent slab for income between Rs 15 lakh and Rs 20 lakh.'
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
If you default, it will affect your credit score and your career.
The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from $65,877 per kg in January 2024 to $86,464 per kg in January 2025.
The new TDP government will have to mop up over Rs 10,000 crore to fulfill the financial requirements for July, a retired senior bureaucrat said.
Kochhar brothers stepped down from the board of Credential Finance by 2009. While Deepak Kochhar started NuPower Renewables, Rajiv set up Avista Advisory Group
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Companies with more than Rs 10,000 crore of debt would seek refinancing.
The Reserve Bank on Thursday proposed tighter norms for treatment of wilful defaulters under which banks and other lenders will be required to examine all accounts with outstanding amount of Rs 25 lakh and more to see if the borrower is deliberately not repaying the loan. The central bank has issued a 'Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters' on which comments have been invited till October 31. According to Reserve Bank of India (RBI), the draft Master Direction expands the scope for regulated entities which can classify borrowers as wilful defaulters and broadens the definition of wilful default.
In a noble move, a group of IT professionals has come together to raise funds for repaying loans of over 100 debt-ridden farmers in drought-hit Vidarbha region, notorious for farmer suicides.
Adani Ports and Special Economic Zone has repaid Rs 1,500 crore loan and will repay another Rs 1,000 crore in commercial papers due in March. The Adani Group firm paid Rs 1,000 crore to SBI Mutual Fund and Rs 500 crore to Aditya Birla Sun Life Mutual Fund on commercial papers that matured on Monday, as scheduled.
'Granting the country's highest civilian honour to Prime Minister Modi was surprising as it indicated the government was going out of its way to have India as a close partner.'
The depreciation in rupee may pose a problem for students who have taken loans from Indian lenders.
To invest Rs 10,653 crore in Venezuela and another Rs 2,644 crore in retail business.
The National Company Law Tribunal (NCLT) on Wednesday admitted Bank of India's plea to initiate insolvency resolution proceedings against debt-ridden Future Retail Ltd (FRL). The tribunal rejected Amazon's objection to initiating insolvency proceedings against Future Retail. Admitting the lenders' plea, the NCLT appointed Vijay Kumar Iyar as the resolution professional for FRL.
'Women' as a political constituency appears to be an idea that has come of age. It is changing India in ways that we only dimly understand, asserts Aditi Phadnis.
Opt for balloon schemes if you are capable of paying a large instalment upfront
A day after the promoters of Adani Group prepaid $1.1 billion loans, one of the group's listed entities - Adani Ports and Special Economic Zone (APSEZ) - announced that it would prepay loans of up to Rs 5,000 crore by next month-end so as to improve its financial metrics. The company is targeting an earnings before interest, tax, depreciation and amortisation (Ebitda) of around Rs 15,000 crore this financial year. This was revealed by Karan Adani, chief executive officer (CEO) and whole-time director of APSEZ, while announcing the September-December 2022 results.
ECL Finance Company MD and three officials were on Tuesday quizzed for nearly eight hours by the Raigad police in Maharashtra probing the alleged suicide of film art director Nitin Desai, an official said.
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