Speaking to reporters after pre-Budget consultation with Finance Minister Pranab Mukherjee, the SBI chief said the bank has an exposure of about Rs 32,000 crore (Rs 320 billion) in the power sector.
What if you could have an option apart from personal loan in times of crisis?
Co-signing a loan is a huge responsibility and can impact you greatly. Here's what you need to know before your generous streak gets the better of you!
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
Rishi Mehra on the home work you need to do before opting for one
Look at the pros and cons of both the options and take a decision yourself!
Tata group company Tata Steel will issue equity shares on a rights and preferential basis to raise about Rs 10,000 crore (Rs 100 billion) to repay 'bridge loans' raised for funding acquisition of British steel behemoth Corus. The issue will close on December 21, a spokesperson said, adding that the record date for the issue was November 7.
Banks and financial institutions provide 6-12 months of additional time, beyond which you need to negotiate.
RBI said that it has decided that banks may refinance such loans by way of full or partial take-out financing.
The company will retire part of the debt by way of sale and lease back of some its aircraft.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
A small-scale businessman was found dead at his house in Kottayam in Kerala, following which the family members raised grave charges against a Karnataka-based private bank on Tuesday.
A dream home can be closer to reality if you live a financially disciplined life. All that it takes is to make smart moves at the right time in your life and career.
Follow the golden rule: don't borrow, don't overspend. This applies to debt availed for lifestyle or consumption needs and not for asset creation, like home loans, etc.
The proportion in which a joint home loan is taken is important.
After cheap toys, consumer goods and other manufactured products, cheaper loans could be the next major Chinese import into India, and the credit may go to a potential FCCB crisis looming large over Indian corporates.
While start-ups are making it easier to borrow, one needs to choose carefully.
Do you aspire to purchase a house? Are you depending upon a bank or housing finance company to fund your needs? Is the same rate of interest charged by two different lenders confusing you? You are at the right place.
12 out of 21 public sector banks reported declines in their loan books in the last financial year against seven such banks in 2015-16 and none in 2013-14.
The NCW, in a statement, on Friday said it had taken cognizance of the media reports that in the Rajasthan area of Bhilwara, conflicts over loan repayments were purportedly resolved by auctioning off young women on stamp papers.
The ensuing liquidity crisis has prompted many MFIs to seek a moratorium on loan repayment to banks.MFIs raise 75-80 per cent of their funds via bank borrowings, 15 per cent from equity and another 10 per cent from other sources like cash securities.
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
Guaranteeing a loan requires careful analysis before making the decision; you should not guarantee a loan just because a friend or acquaintance has asked you to do so, warns Rajiv Raj
Key changes are expected in vehicle repossession norms to ease the process for banks to take back cars and two-wheelers from owners that default on loan repayments.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
Because a settled account will do more damage to your credit history than you can imagine.
The company had a total debt of Rs 16,010 crore (Rs 160.1 billion).
Companies such as Cashurdrive, Carpaisa and Adometre give you a chance to earn by selling space on your cars for advertisements.
If you default, the bad behaviour stays in your credit report for a very long time
Seeking intervention of the Prime Minister Manmohan Singh for a moratorium on loan repayment, the crisis-ridden textile industry has said immediate government measures can help it save 10 lakh (1 million) jobs and create additional 25 lakh (2.5 million) employment opportunities.
The finance ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans.
Education loans are a convenient and popular option for many, to meet the cost of higher education. Did you also know that under Section 80E of the Income Tax Act, repayment of this education loan could be used to claim a deduction? Read on to find out, what this section offers and how to utilise it to your benefit.
Special agents, as the detectives are called by their employers, do not bully defaulters as recovery agents do, but use sleuthing skills to shadow subjects and help lenders nab them. Many big defaulters have been traced till now and lakhs of rupees recovered using services of detectives, says a bank official.
The company has finalised a three year business plan to increase revenue and control costs.
To attract more investment in farm sector, the Agriculture Ministry has proposed one per cent reduction in interest rates to 4 per cent for those farmers, who are prompt in repayment of loans they have availed.
That apart, farmers will get loans for post-harvest storage of their produce at a subsidised interest rate of 7 per cent for six months.
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