Jaitley said the total gross NPA ratio has gone up to 4.03 per cent in 2013-14 from 3.42 per cent in 2012-13 and 2.94 per cent in 2011-12.
Wiser from last year's free-fall, realty firms discovered a new mantra in 'affordable housing' and found help from banks who offered low interest home loans to build their businesses in 2009.
Frequent balance transfer in search of a lower rate can be tricky for borrowers, if property prices fall
Kumaraswamy, who also holds the finance portfolio, said he has limited the loan amount to Rs 2 lakh, as it was 'not right' to waiver higher value crop loan.
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
Instead of being guided only by returns, investors should also factor in the risks of lending on these platforms.
What could have been an immensely compelling survival drama is reduced to the pretty-girl-in-peril thriller, observes a disappointed Mayur Sanap.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
Nothing has ever been done to make bank officers accountable, except for the rare actions when there is a public controversy, argues Debashis Basu.
Until your home loan is sanctioned, some silly mistakes on your part before making the first move can derail the most important goal of your life.
The eligibility for loan issuance for salaried individual for car purchase has been raised from Rs 250,000 per annum to Rs 600,000 per annum, as per the recent circular of the bank.
There seems to be no respite for Adani Group companies from the market carnage. All 10 stocks belonging to the conglomerate came under a fresh bout of intense selling pressure on Wednesday as the group's debt levels and repayment capabilities continued to plague investors. Analysts said investors are also concerned about whether the group will be able to maintain its pace of growth, given the current turmoil that has wiped out over Rs 12 trillion in market capitalisation (m-cap) since the start of the year.
Terming whistleblower allegations on loan evergreening as "grossly inaccurate and baseless", Indusind Bank on Saturday admitted to have disbursed 84,000 loans without customer consent in May owing to a "technical glitch". Lending without the consent was reported by the field staff in two days, and the glitch was also rectified expeditiously, the private sector lender said in a clarification. On Friday, there was a media report about anonymous whistleblowers writing to the bank management and the RBI about BFIL, the microlending-focused subsidiary of the bank, allegedly resorting to evergreening of loans, wherein existing borrowers unable to pay dues were given new loans to present the books as clean.
Anil Ambani group company Reliance Communications Infrastructure Ltd has moved the Supreme Court seeking to recover more than Rs 58 crore (Rs 580 million) of outstanding loan from a Mukesh Ambani group firm.
Existing and new customers will find it easier to manage or raise loans as banks start cutting rates.
If borrowers don't have access to a bank's credit facility, it could make sense to use peer-to-peer systems.
Modi had promised during his election campaign that a decision on loan waiver would be taken at the first cabinet meeting of the BJP government in the state.
The PCA plan covers various suggestions or measures to recover non-performing assets (NPAs), reduce costs, boost capital, downsize risk-weighted assets, and improve profitability, among others. The LVB management is in the process of implementing all of these, said sources.
The amazing excuses given by people who don't invest their money abound, but you would be wise to ignore them. Excuses won't help you get ahead; they can only hold you back from the retirement you deserve, says financial planning advisor P V Subramanyam
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
Before opting for a joint loan with your parents or spouse (after all, anybody who you love is your Valentine) you must first understand the implications of this loan.
You would find NBFCs more willing to lend even if you have a poor credit score, says Adhil Shetty
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
Embattled businessman Vijay Mallya on Tuesday lost a legal battle to hold on to his plush London home after a British court refused to grant him a stay of enforcement in a long-running dispute with Swiss bank UBS. The 18/19 Cornwall Terrace luxury apartment overlooking Regent's Park in London, described in court as an "extraordinarily valuable property worth many tens of millions of pounds", is currently being occupied by Mallya's 95-year-old mother Lalitha. Delivering his judgment virtually for the Chancery Division of the High Court, Deputy Master Matthew Marsh concluded there were no grounds for him to grant further time for the Mallya family to repay a 20.4-million loan to UBS - the claimant in the case.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
Here are some pointers that should serve as red flags for you
The Karnataka CM with only 37 JD-S MLAs in the assembly is on shaky ground and overly dependent on the Congress for every decision, reports Bibhu Ranjan Mishra.
IIM-Ahmedabad has written to Flipkart co-founder Binny Bansal on the issue, saying the students felt cheated for no fault of theirs for choosing the company over other brands and will suffer as they have to re-pay their education loans.
Bankers gave money to Mallya's airline though it was not enough to even service existing debt?
The affordable housing segment may be seeing an uptick which is a good sign of consumption momentum. This is the biggest-ticket purchase for middle income and lower income families. The current activity is at least partly driven by a pause in interest rate hikes.
Aiming at bolstering the sagging economy as well as providing housing to all, the urban poor will get 5 per cent interest subsidy for home loans up to Rs 100,000, taken during the Eleventh Plan period.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
According to a preliminary probe, the accused used to "harass and humiliate" the members of the Vanmore family as they were unable to repay the loans they had taken, apparently forcing them to take the extreme step, he added.
On the individual front, housing loan rebate on self-occupied property was increased from Rs 1,50,000 to Rs 2,00,000.
Making the announcement, Chief Minister Devendra Fadnavis said this was the "biggest" loan waiver scheme in the country.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
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