Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
Did your bank ever reject your loan application because you were reported falsely for having bad credit history? Tell us.
Private equity investments in Indian companies grew 38 per cent to $62.2 billion last year, with inflows into Reliance Industries' telecom and retail ventures contributing nearly 40 per cent of the total value of the deals, a report said on Wednesday. Barring investments into Jio Platforms and Reliance Retail, the total deal value was down by 20 per cent over 2019 as the volume of large deals of more than $100 million dipped by a fourth, as per the report by Bain & Company and India Venture Capital Association. Overall investment activity remained muted from March to May last year due to COVID-led uncertainties and investor confidence recovered strongly in the second half to pre-COVID levels with late-stage and buyout deals witnessing increased traction, it said.
Here are some reasons you need to watch out for and guard yourself against to obtain a loan without any hassles.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
Lenders had filed 1,251 cases to recover Rs 24,765.5 crore. Wilful defaulters are the entities that do not pay back money despite the ability to do so. Defaulters above Rs 1 crore were considered for this exercise.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
When opting for any loan, make sure you read the terms and conditions carefully, and understand the 'other charges' to avoid any disappointment at a later stage.
There are many factors that govern auto loans. Take this quiz to find out just what you know and must know about borrowing money for a new car.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
The farm loan waiver scheme may not trigger a tendency among farmers to default intentionally, Amarendra Sahoo, chief general manager, rural planning and credit department, Reserve Bank of India, said on Thursday.
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
The Madras High Court order for closure of over 700 dyeing and knitting units in Tirupur may trigger huge loan defaults. Repayment of loans worth about Rs 20,000 crore would be hit if operations came to a halt, said Tirupur Exporters Association President A Sakthivel.
The Reserve Bank on Monday eased norms for structuring of existing long-term project loans to infrastructure and core industries, to revive stalled plans and help banks tide over mounting bad loans.
The Banking Codes and Services Board of India offers a free of cost credit counselling service to individuals who have taken home loans, personal loans, vehicle loan or incurred credit card debt up to a maximum limit of Rs 50 lakhs.
Prime Minister Sheikh Hasina slammed her arch-rival Khaleda Zia of the Bangladeshi National Party on Tuesday for spearheading a "misleading campaign" against the $1 billion loan deal with India that has sparked a row between the government and the main opposition party.
Follow these 6 Cs of building good credit and your lender will never disappoint you!
Here's an innovative home loan product that is gaining popularity amongst borrowers.
If your total EMI payments exceed 35-40 per cent of your monthly income, use these strategies to avoid a Squid Game like debt trap, suggests Bindisha Sarang.
What should you do if you have too many loans on you and you are unable to service them? Financial planning expert Vetapalem Sridhar has the answers.
A senior IDBI Bank official allegedly conspired with businessman Vijay Mallya for sanction and disbursement of loan to the latter's Kingfisher Airlines, the Central Bureau of Investigation said in its supplementary chargesheet filed in a Mumbai court. Mallya is an accused in the alleged Rs 900-crore IDBI Bank-Kingfisher Airlines loan fraud case, which is being probed by the CBI. The Central agency had recently filed a supplementary chargesheet before a special CBI court.
Microfinance companies have been facing a crisis after a crackdown by the Andhra Pradesh government last year in response to allegations they were charging high rates and using coercive recovery practices.
Collateralisation of other loans and prior approval for additional leverage are things to watch out for
Home loan expert Harsh Roongta tells you what you can do if your bank has increased the interest on your home loan.
Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans.
The Credit Bureau of India (Cibil) is set to launch a credit score database that will reflect the creditworthiness of every borrower in the country.
Finance Minister P Chidambaram on Friday said he has asked PSU banks to provide loans at lower interest rates to workmen, like cobblers and washermen, and brushed aside apprehensions of possible repayment delays by them. Chidambaram said he had directed that all branches of PSU banks, numbering over 70,000, should provide Rs 5,000 loans at four per cent interest to workmen. He also wanted shepherds and fishermen to be added to the list of workers who could be given the loans.
By registering the fresh case, ED wants to strengthen its probe against the beleagured liquor baron and expedite a slew of actions it has initiated against him
Finance Minister Nirmala Sitharaman has rebutted Congress leaders Rahul Gandhi and Randeep Singh Surjewala's allegations regarding "wilful defaulters, bad loans and write-offs", and stated that they have "attempted to mislead people in a brazen manner".
The World Bank would provide loans to India at higher than its existing concessional rates but lower than the market rate.
Prepaying a loan is usually a good idea. And, part-prepaying the principal part of the loan makes even more sense. The reason is that it reduces the total amount of interest you have to pay out and, possibly, the loan tenure. But before doing so, you must look at some factors.
Sujata Ahlawat, Senior Vice President and Head of Direct-to-Consumer Interactive, TransUnion CIBIL, offers a quick glimpse into what a CIBIL Score is, the factors that impact it, and tips for maintaining a healthy score.
BJP alleged that banks were 'pushed' into giving Rs 3,100 crore loan to him and unfreezing his bank accounts in 2012.
Sebi has now said any default of payments of interest or principal on loans taken from financial institutions, including banks, will have to be disclosed if it continues beyond 30 days.
China on Monday said Sri Lanka has allowed its satellite and missile tracking ship to berth at the Hambantota port on Tuesday, but declined to reveal details of talks with Colombo leading to the bankrupt island's government reversing its earlier stand to defer the high-tech vessel's entry.
In a bonanza to farmers, the government on Friday announced a subsidised five per cent interest rate on crop loans on timely repayment, while proposing a 15 per cent hike in credit made available for farm sector.
NMDC reported a strong standalone revenue at Rs 5,410 crore, rising 45 per cent year-on-year (Y-o-Y) and 35 per cent quarter-on-quarter (Q-o-q) in line with consensus. Iron ore sales at about 11.4 million tonnes (MT) grew 18.9 per cent Y-o-Y (19 per cent Q-o-Q). Realisation stood at Rs 4,679 per tonne, higher by 22 per cent Y-o-Y (12.9 per cent Q-o-Q).
State Bank of India on Thursday said that equated monthly instalments on its home loans will be tweaked shortly as interest rates have gone up by two per cent in the last one year.
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