Denied of any relief from the UPA-II government, West Bengal Chief Minister Mamata Banerjee on Monday pinned her hopes on the new BJP government at the Centre for a positive response on the state's huge debt repayment problem.
The government is considering giving more time to farmers to repay their loans under the debt relief programme that allows parital loan waiver to large farmers.
The Reserve Bank on Thursday said Indian companies may find it difficult to repay loans as rising input cost is putting pressure on their profit margins.
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
'The nylon noose was around his neck; a suicide note was in his hands.'
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
The ministry further told banks that "it would be prudent to take steps against guarantors immediately when no sign of revival is visible".
Fernando Torres is desperate to repay the Chelsea fans for their unstinting show of support during the worst spell of his career, the Spain striker said on Friday.
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.
Project delays, stretched balance sheets impacting asset quality indicators of HFCs.
'Building a credit history is a gradual process that requires at least 6-12 months of consistent credit activity.'
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
A company executive, who did not want to be identified, said the combined debt of RIL and its subsidiary, Reliance Petroleum, which is being merged with it, would be brought down to around Rs 57,000 crore this year from Rs 72,000 crore at present.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
You need not worry about the long tenure as you can prepay the amount that is around 3-4 times your EMI periodically like once a quarter or when your year end bonus comes through.
The injured victim, who is under treatment in a hospital, claimed that she had to bear this torture despite paying off the borrowed money with interest.
American International Group Inc has repaid another $6.9 billion to the US government, using proceeds from the sale of the insurance firm's stake in MetLife.
To invest Rs 10,653 crore in Venezuela and another Rs 2,644 crore in retail business.
Airline stocks have been soaring following a steep decline in crude oil prices and sustained passenger traffic. Analysts have particularly turned bullish on the stocks of InterGlobe Aviation and SpiceJet. On December 20, shares of InterGlobe Aviation (IndiGo) hit a record high of Rs 3,009 on the BSE, having surged 43.24 per cent year-to-date (YTD).
Gonzalo Higuain aims to repay Juventus for splashing out 90 million euros ($99.74 million) to sign him from Napoli and make the Argentina striker the third most expensive player in world football.
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.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
Banerjee, who had been demanding a waiver of interest on the state's debts for a period of three years, said even a year's moratorium on repayment of interests on central loans would enable the state to create 10 lakh (1 million) jobs.
Unemployment has been rising among the young, with authorities suspending data disclosures after youth unemployment crossed 20 per cent.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
Vedanta Ltd on Thursday termed any talks of sale in oil-to-metals conglomerate as "untrue and baseless." This comes in the wake of news report which said that mining mogul Anil Agarwal is contemplating a stake sale in Vedanta as a last-resort option and is examining the possibility of selling less than 5 per cent of the company. According to company's spokesperson, "Any talk of stake sale in Vedanta Ltd is untrue and baseless."
Two persons were arrested in Surat in Gujarat for allegedly forging documents like Aadhaar and PAN cards as well as voter IDs using a website, in the process posing a serious threat to national security, a police official said on Monday.
Concerned over the practice of banks and Non-Banking Financial Companies (NBFCs) using penal interest as a revenue enhancement tool, the Reserve Bank on Friday came out with modified norms, under which lenders would be able to levy only "reasonable" penal charges in case of default in repayment of loans. The banks and other lending institutions will not be allowed to levy penal interest with effect from January 1, 2024, the RBI said in its notification on 'Fair Lending Practice-Penal Charges in Loan Accounts'. "Penalty, if charged, for non-compliance of material terms and conditions of loan contract by the borrower shall be treated as 'penal charges' and shall not be levied in the form of 'penal interest' that is added to the rate of interest charged on the advances," RBI said in a notification.
The Enforcement Directorate on Thursday said it has frozen assets worth Rs 143 crore of prominent Kerala-based NBFC Manappuram Finance Ltd's MD and CEO V P Nandakumar after it conducted raids as part of a money laundering investigation. A total of six premises in Thrissur, where the company is headquartered, were covered during the searches that were launched on Wednesday. The case pertains to allegations of money laundering through "illegal" collection of deposits from the public, the agency said in a statement.
The Citigroup may cut a deal with the US government on Monday that will allow it to repay the bailout fund the financial entity had received at the height of the global financial crisis, says a report.
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
Being driven to abandon Indian middle-class values, asks Ajit Balakrishnan.
The Gujarat government has decided to wind up nine of the 18 sick co-operative banks involved in the multi-crore co-operative bank scam and repay around Rs 870 crore (Rs 8.70 billion) to 900,000 small investors in next 60 days.
Infosys has asked the West Bengal govt to give them land or repay the token amount the former had paid earlier.
IPO-bound hospitality major Oyo's India Chief Executive Officer (CEO) Ankit Gupta and the head of its Europe business Mandar Vaidya have resigned. A company spokesperson told Business Standard that the two had moved on from their roles six months ago in March 2023. During the same period, Oyo had rejigged its top management, where the company's COO Abhinav Sinha was reassigned as Chief Product and Technology Officer, while Chief Business Development Officer Anuj Tejpal was reappointed as Global Chief Merchant Officer.
"We had raised a debt of $585 million for acquiring Axon which is maturing in December 2009. We have a cash position of $412 million. We will pay the debt out of the cash and raise a small debt," HCL Technologies Executive Vice-President (Finance) Anil Chanana said. HCL had acquired Axon for pound 441 million ($678 million) in December last year, funded partly by a short-term loan of $585 million.
'Try to obtain a secured personal loan or credit card by offering some collateral, such as a fixed deposit or gold.' 'Not only will this improve your eligibility, but the lender may even offer a lower interest rate.'
"Out of the total loan amount of Rs 1,500 crore, we have raised Rs 500 crore (Rs 5 billion) from various banks and for the rest of the amount, we are still in talks with the them (banks)," MTNL Chairman and Managing Director Kuldip Singh said on the sidelines of an event.
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