The surge in retail loans, particularly among GenZ and Millennials, has been a significant trend in the financial sector. This demographic is increasingly drawn to unsecured lending options, facilitated by fintech companies and NBFCs, offering quick and convenient access to credit. However, this ease of access has led to a rise in defaults, highlighting the … Read more
Until the mid-2010s, banks used to lend massive loans to big industries. When these businesses failed, their loans turned sour. Such bad loans stayed hidden for sometime. In 2015, the Reserve Bank of India (RBI) carried out a review, following which skeletons tumbled out of the closet. The share of bad loans reached as high … Read more
Borrowers will have more clarity on their loan costs with the help of key facts statement (KFS) to be issued by banks and non-banking financial companies (NBFCs) from October 1. The Reserve Bank of India (RBI) directed banks to provide borrowers with an annualised percentage rate (total cost of loan) to enhance transparency and empower borrowers to make … Read more
Vietnam’s top soft drinks tycoon was jailed for eight years on Thursday in a $40 million fraud case, the latest high-profile business figure snared in the country’s sweeping crackdown on corruption.The communist nation’s wide-ranging campaign to wipe out endemic graft has seen more than 4,400 people charged with criminal offences, including officials and senior business … Read more
The CIBIL Credit Score plays an important role in determining an individual’s creditworthiness. It is obtained through one’s PAN details, which is a compulsory requirement by most financial institutions for any transactions. But what if you do not have a PAN card? How would you request your CIBIL score? Don’t worry — here is how you can get your CIBIL credit score without a PAN card. A CIBIL score is a … Read more
When you buy a home, you think of securing a favourable interest rate. This matters not only for existing homeowners but also for new buyers. Recently, most financial institutions have seen a significant shift as home loan interest rates have surpassed the 9 percent mark. With the increase in interest rates, homeowners and buyers have … Read more
hyderabad The State Government has decided to revive the interest-free loan scheme to women self help groups (SHGs) with its re-launch on March 12, Deputy Chief Minister Mallu Bhatti Vikramarka said. Speaking to reporters here on Saturday, he said that the government has plans to extend at least ₹1 lakh crore interest-free loans to women … Read more
Krishnamurthy Subramanian. | Photo Credit: The Hindu Taking a tough stance, India has batted for “stringent monitoring” of any emergency funds provided by the International Monetary Fund (IMF) to its financially beleaguered neighbour Pakistan, stressing that such funds must not be redeployed towards defence bills or repayment of loans from other countries. India’s position was … Read more
