Provisioning for bad loans by banks fell in the September quarter for the second consecutive period based on year-on-year comparison driven by the public sector banks (PSBs). For a sample of 29 publicly listed banks, provisioning for non performing assets (NPA) fell by 2.9% to Rs 27,318.2 crore. For PSBs, it fell by 11.6% to … Read more
Senior leaders of the Bharat Rashtra Samithi (BRS) and former ministers T. Harish Rao and S. Niranjan Reddy have condemned the arrest of farmers at Talamadugu in Adilabad district for staging a protest against not receiving the benefit under the Crop Loan Waiver 2024 and criticised the Telangana government for its undemocratic attitude. In separate … Read more
When a family member passes away with outstanding loans and credit card bills, handling those debts can be challenging. First, it’s important to understand that these debts are typically settled using the deceased’s assets left behind. Legal heirs should gather all financial documents, including bank statements, loan agreements, and credit card bills. If the deceased … Read more
U.S. equity funds saw outflows for the first time four weeks in the seven days ended May 29, hit by rising bond yields and uncertainty over the timing and extent of Federal Reserve interest rate cuts. According to LSEG Lipper data, net outflows from U.S. equity funds totalled $7.6 billion. This came as the yield … Read more
The Reserve Bank of India (RBI) has directed all banks and regulated entities that it cannot levy additional fees on loans that are not previously disclosed in the Key Fact Statement (KFS). It said that from October 1, 2024, banks will be bound by the terms of the loan indicated in the Key Fact Statement … Read more
A pioneering study by DBS Bank India, in partnership with CRISIL—to understand how urban Indian women plan, prioritise and manage their money—has found that 98% of salaried and self-employed Indian women actively participate in long-term family decision-making. The first of three reports, titled ‘Women and Finance’, was launched today. Over 800 women were surveyed across … Read more
My name is Veer, and I work in the private sector, earning Rs 59,000 in hand, and have two personal loans of Rs 3.6 lakh pending, with EMIs of Rs 9,200 till January 2028, and another with EMI of Rs 5,500 for two years more. I am planning to switch jobs in two months and … Read more
Last week, the Centre revised the interest rates applicable to three-year term deposit scheme by 10 basis points for the January-March quarter. According to a finance ministry circular, the deposit under Sukanya Samriddhi scheme would attract an interest rate of 8.2 per cent from the existing 8 per cent, while the 3-year term deposit would … Read more
WhatsApp is emerging as an important channel for digital loan disbursal with 59% of borrowers having received loan messages on the instant messaging application, as per the annual survey ‘How India Borrows (HIB) Survey 2023’ by Home Credit India, the local arm of the global consumer finance provider. The survey aims to understand the constantly … Read more
I am a 30-year-old married woman with two daughters, and I earn Rs 90,000 per month. I give my parents around Rs 20,000 to Rs 25,000 for their monthly expenses. My parents have a debt of around Rs 12 lakh and an income source of Rs 10 000 per month. Now it’s my responsibility to … Read more