For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
The ministry further told banks that "it would be prudent to take steps against guarantors immediately when no sign of revival is visible".
In the current scenario of rising interest rates it is vital that you understand important elements in the loan taking process, helping you make an informed decision when it comes to balancing your monthly budget and your loan repayment.
The asset quality of non-banking financial companies (NBFCs) deteriorated in April-September 2021 (H1FY22) owing to the second wave of the pandemic. Their gross non-performing assets (NPAs) rose to 6.8 per cent in September 2021 from 6 per cent in March 2021. The Reserve Bank of India's (RBI's) annual Trend and Progress report (FY21) said the sector might have to grapple with higher delinquencies as and when policy measures unwound. The pandemic posed significant challenges to NBFCs during the first wave (2020) also.
Some instruments help you perform the dual task of tax saving and retirement planning. Pick ones with the longest lock-in period
As education loans are given on a floating-rate basis (and not fixed), one needs to account for probable spikes in the EMI while choosing the loan tenure. Loans are available for up to 15 years, which could lower your EMI and ease your repayment burden, advises Mohan Jayaraman.
Youngsters must remember education is their BIGGEST investment EVER: Their lifelong income-earning provider! asserts CA P V Subramanyam.
The Income Tax Act, 1961 provides tax benefits for assessees that have home loans. Typically a home loan is repaid to the bank/lender in monthly installments.
Eye business expansion, fulfil working capital requirements and making loan repayments
Credit card loans and personal loans are two prime examples of unsecured loans that must always be avoided.
You can get a lumpsum sanctioned, but you may draw only part of it and pay interest on the amount used.
Edtech firm Think and Learn Private Ltd, owner of Byju's, on Thursday said neither the company's founder and CEO Byju Raveendran nor any other board member will attend the extraordinary general meeting called by some select investors. Shareholders at Byju's are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members over alleged "mismanagement and failures". Byju's has called the EGM "procedurally invalid" and contractually in contravention of the company's article of association and shareholder's agreement.
Make your child understand that non-repayment of the loan puts all of it at risk
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Due to the prevailing uncertainty, the risk of loans going bad has certainly increased. This may result in lenders following risk-based pricing more diligently, notes Naveen Kukreja, CEO, Paisabazaar.com
The Credit Information Bureau (India) Limited (CIBIL)can now generate a copy of your credit history and payment default reports at the click of a mouse. Borrowers will now have to tidy up their payment history.
There can be as many as six co-applicants in a joint loan.
Becoming a guarantor also affects an individual's 'capacity to borrow' adversely
A primer on how to choose correctly between swiping your card and applying for a loan...
Reserve Bank on Wednesday announced a slew of measures including loan restructuring for individual and small businesses hit hard by fresh COVID-19 wave. To augment supply of goods for COVID care, the central bank opened Rs 50,000 crore on-tap window to ease access to emergency health services to boost provision of immediate liquidity for ramping up COVID-19 related healthcare infrastructure and services in the country. This liquidity window is being opened till March 31, 2022, he said, adding that under the scheme, banks can provide fresh lending support to a wide ranging of entities including vaccine manufacturers, importers and suppliers of vaccine and medical devices, hospitals and dispensaries and suppliers of oxygen and ventilators importers and also patients for treatment.
The Bombay high court has directed a working woman to pay monthly maintenance of Rs 10,000 to her former husband who is unable to earn due to his ailments.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Yes Securities, the broking and investment arm of Yes Bank, on Wednesday said the Supreme Court directive on loan moratorium due to pandemic has brought the much needed clarity and there will not be any financial impact on the banks as the compound interest waiver is to be reimbursed by the government. On its verdict on a batch of pleas seeking moratorium extension beyond August 31, 2020, the apex court on Tuesday said it is a policy decision, refusing to interfere with the Centre's and RBI's decision to not extend the loan moratorium beyond the limit. However, it observed that the benefit of moratorium should go to all set of borrowers irrespective of the loan amount and asked to refund any amount collected as penal interest and compound interest during March-August 2020.
Going through the credit report regularly will make you aware of a number of issues. One is identity theft.
The bank has suffered to such an extent that salaries of employees have not been paid.
To recover dues from 50 top defaulters; finance ministry wants proceedings fast-tracked.
A few important factors to keep in mind while applying for a home loan, and strategies to manage it, whatever your age.
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
Customers who still want to go in for a loan are opting either for longer maturity plans or making higher upfront payments to control their monthly outgo on loan repayments.
The top 50 exposures, amounting to Rs 7.8 trillion, of government-registered non-banking financial companies (G-NBFCs) constitute about 40 per cent of corporate credit within the NBFC sector, indicating concentration risk, according to the Reserve Bank of India's report "Trend and Progress of Banking in India 2022-23". Notably, all the 50 are tied to the power sector, a domain fraught with inherent challenges, the report said. The report highlighted recognising the escalating systemic importance of G-NBFCs, the Prompt Corrective Action (PCA) framework had been expanded to include G-NBFCs excluding those falling within the base layer.
Former Prez made these remarks days after Muizzu, widely seen as a pro-China leader, urged India to provide debt relief to the archipelago nation.
You can increase or reduce the sum assured of a term cover, depending on changes in your overall liability, advises Bindisha Sarang.
Foreign minister Ali Sabry told the cabinet that the Chinese vessel had only asked for a refuelling visit.
When taking a loan, it is important to look at various factors, and not just the interest rate, says Tinesh Bhasin.
More shares belonging to companies of the embattled Adani Group have been pledged as security for loans taken by the group's flagship firm, a trustee said. SBICap Trustee in notices to stock exchanges said that a further 0.99 per cent shares in Adani Green Energy Ltd were pledged "for the benefits of the lenders" of Adani Enterprises Ltd. An additional 0.76 per cent shares in Adani Transmission Ltd were also pledged to banks, the trustee said. SBICap, which is a unit of State Bank of India (SBI), however did not give details of the loans taken by Adani Enterprises for which the pledge was created.
In an online chat with Get Ahead readers July 8, financial expert Anil Rego answered their queries on education loan. Here is the chat transcript
'Building a credit history is a gradual process that requires at least 6-12 months of consistent credit activity.'
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
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