The sale of the NPA account is to happen through e-auction on January 30, as per the bid invite.
For big amounts, loan against property is cheapest; for small ones opt for loan against insurance policy or FDs.
In the past three years, personal loans have grown at twice the rate of growth in personal disposable income, leading to a steady rise in household indebtedness. At the end of March this year, Indians owed Rs 25.2 lakh crore to banks and listed non-banking finance companies (NBFCs), up 65 per cent in the past three years.
'The probability of another negative year in 2019 is low.'
However, in the first quarter when the country was under a lockdown, net financial savings rose to 21 per cent of gross domestic product (GDP), according to the data released in the RBI's monthly bulletin.
The meeting came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.
The sentiment in the real estate industry turned optimistic during October-December 2020 and the outlook for the next six months is positive on the back of revival in demand for both residential and office properties, according to a survey by Knight Frank India-FICCI-Naredco. The 27th edition of 'Real Estate Sentiment Index Q4 2020 survey' of developers, banks, financial institutions and private equity players operating in the sector was released on Monday in a video-conference. As per the report, the 'Current Sentiments Score', for the first time in 2020, entered the optimistic zone at 54 points in Q4 (October-December) 2020, a significant jump of 14 points over the previous quarter.
Short-term loans from NBFCs can be more convenient but come at higher cost
The recent improvement in consumer sentiment is almost entirely a rural India story. Much of the corporate sector reposes faith in rural India to fuel its growth, observes Mahesh Vyas.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
Sitharaman said the government wants to sell stake in public sector companies at a time when it fetches the right price.
The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.
The focus of the meeting will be on enabling businesses and households to avail of the revival framework on the basis of viability, necessary steps like finalising bank policies and identifying borrowers, and discussing issues that require addressing for smooth and speedy implementation.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
Finance Minister Nirmala Sitharaman on Friday said the government is proposing additional tax deduction of Rs 1.5 lakh on interest paid on home loans taken up to March 2020 for purchase of house up to Rs 45 lakh.
'There are some high-frequency indicators where uptick is visible and some where it is not'
Top gainers in the Sensex pack included Sun Pharma, TechM, Axis Bank, L&T, Reliance Industries and ICICI Bank, which rose up to 2.66 per cent.
Subbarao said, short-term as well as medium-term prospects or Indian economy continue to be grim. Fiscal deficit is going to be much higher, the debt burden much larger and the financial sector will be in a worse shape.
Gold is one of the most influential financial instruments in the India. Banks, NBFCs and unorganised lenders are actively engaged in providing loans against gold value.
PV registrations in this year's festive period stood at 287,717 units as against 333,456 units in the corresponding period last year, down 14 per cent. Two-wheeler registrations also fell by 13 per cent to 15,83,276 units as against 18,11,703 units in the year-ago period.
SBI was the top gainer in the Sensex pack, rallying over 10 per cent, followed by Kotak Bank, Dr Reddy's, UltraTech Cement, ITC and HDFC Bank. On the other hand, Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech were among the laggards.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.
'Banks, fund managers, NBFCs, rating agencies, those buying into debt funds -- all of them will have to watch their step as India's financial system enters a new phase,' warns T N Ninan.
Sitharaman said economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up.
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
Krishnamurthy Subramanian listed land, labour, law, and liquidity as the key areas of big reforms.
The repo rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's MPC.
Finance Minister Nirmala Sitharaman on Thursday said the Indian economy is witnessing a strong recovery after a long and strict lockdown. Addressing a press conference to announce more stimulus measures to boost growth, she said macro-economic indicators are pointing towards recovery. She noted that COVID-19 active cases have declined from over 10 lakh to 4.89 lakh with case fatality rate (CFR) at 1.47 per cent.
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
You should also get the maximum tax benefit from your home loan. See if you can make your spouse a co-applicant and avail the tax benefits. You will simply double the tax benefits if there are two co-applicants.
'The effect will be seen two-three quarters down the line.'
Allotment could be low, and expected listing-day gains can quickly morph into losses if sentiment takes a turn for the worse
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
Dealers say that the full-year outlook remains negative with a projected contraction in retail sales of 15-35 per cent across segments, save tractors, which look set to clock a positive annual growth.
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