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Moneylife Digital Team 26 August 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs3.91 crore on two non-banking financial companies (NBFCs), Innofin Solutions Pvt Ltd and NDX P2P Pvt Ltd, for violating various rules and regulations set by the banking regulator.   Innofin Solutions, also known as LenDen Club and NDX...

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Moneylife Digital Team 08 August 2024
To make available accurate credit information to lenders as well as borrowers, Reserve Bank of India (RBI) has asked lenders to submit data to credit information companies (CICs) like CIBIL TransUnion, Experian or CRIF Highmark every fortnight or at shorter intervals. At present, lenders are...

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Sponsored Post 08 August 2024
For most aspiring homeowners, buying a property means procuring some extra finances. Taking a home loan is one way to go about it. However, in a vibrant market like India, there are simply too many options. Not to mention different interest rates, repayment terms, and loan features. Sifting...

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Moneylife Digital Team 05 August 2024
Gold loans outstanding of scheduled commercial banks (SCBs) jumped 25.66% or by Rs1.57 lakh crore to Rs7.73 lakh crore, while for non-banking finance companies (NBFCs), it increased 17.25% to Rs1.53 lakh crore, the Union government told the Lok Sabha.   In a written reply, Pankaj Chaudhary,...

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Sponsored Post 30 July 2024
Making informed decisions is crucial when it comes to finances. Whether planning a major purchase, clearing debt, or funding a dream vacation,  it is important to have an understanding of finances. One tool that has become indispensable in this regard is the Personal Loan EMI Calculator. It's...

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Sponsored Post 29 July 2024
You’ve decided to buy a house. Now, it is time to decide how you will fund the purchase. One option is to opt for a home loan so that you are not financially burdened in the long run. However, as important as getting an approved loan is, it is equally important that you get a loan at the best...

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Anadi Tewari (Bar  and   Bench) 26 July 2024
The Supreme Court has decided to step in and explore ways to check on unlicenced money lending and aid hapless borrowers who fall prey such unregulated Shylockian money lenders (Raj Kumar Santoshi v. Prashant Malik). Shylockian refers to a hard-hearted moneylender.    Justices CT Ravikumar...

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Moneylife Digital Team 16 July 2024
The Reserve Bank of India (RBI), while revising its master directions on fraud risk management in the regulated entities (REs), directed lenders, including commercial banks, all India financial institutions, cooperative banks and non-banking finance companies (NBFCs),  including housing finance...

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Moneylife Digital Team 13 May 2024
Top executives of Reserve Bank of India (RBI) are scheduled to meet the top management of asset reconstruction companies (ARC) this week to discuss corporate governance and stressed-asset resolutions amid concerns of potential back-door entry by defaulting promoters, says a report from Economic...

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Moneylife Digital Team 29 April 2024
After coming across instances of lenders resorting to certain unfair practices in charging interest, Reserve Bank of India (RBI) has directed all regulated entities (REs) to review their practices regarding the mode of disbursal of loans, application of interest and other charges and take...

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Moneylife Digital Team 26 April 2024
Reserve Bank of India (RBI) has released draft guidelines for a regulatory framework for the aggregation of loan products by lending service providers to enhance transparency and enable borrowers to have prior information about potential lenders.    RBI says it observed that many of the...

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Sponsored Post 23 April 2024
In today's world, where our financial choices greatly impact our lives, it is crucial to understand our credit health. Whether you aspire to own a home, purchase a car, or plan a vacation, a good credit score can be the critical factor that helps you achieve these dreams. In this guide, we will...

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Moneylife Digital Team 16 April 2024
The Reserve Bank of India (RBI) has asked all banks and housing finance companies (HFCs) to provide key fact statements (KFS) in simple terms to the prospective borrowers on the loans and interest that they are expected to pay to ensure transparency and help them make informed...

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Moneylife Digital Team 16 April 2024
Almost 70% of mobile users felt confident verifying the loan apps, despite following a sub-optimum verification process. However, over a third of high-confidence customers exhibit low awareness about factors to detect illegal lending apps, according to a survey.   To systematically understand...

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Moneylife Digital Team 01 April 2024
Upholding an order passed by the Punjab state consumer disputes redressal commission and rejecting the contention of DHFL Pramerica Life Insurance Company Ltd about suppression of health insurance, the national consumer disputes redressal commission (NCDRC) directed the insurer to pay Rs21.72...

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Moneylife Digital Team 05 March 2024
The overall retail loan portfolio grew to Rs117.36 lakh crore in December 2023 from Rs100.29 lakh crore in December 2022, registering a growth of 17%. The portfolio outstanding of women borrowers grew to Rs30.95 lakh crore in December last year from Rs26.00 lakh crore in December 2022,...

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IANS 27 February 2024
Considering the recent regulatory developments and commentary, growth momentum in unsecured personal loans category is likely to derail in the coming quarters, ICICI Securities said in a report.   NBFCs are witnessing a very strong credit cycle, both in terms of growth as well as...

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Sponsored Post 12 February 2024
Achieving sustainable growth in business requires more than just a great product or service. It's not just about having a groundbreaking idea or a loyal customer base; it's also about smartly working through the complexities of business finance. From leveraging cutting-edge tools like the...

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Moneylife Digital Team/ IANS 08 February 2024
Reserve Bank of India (RBI) on Thursday announced that it is mandatory for regulated entities such as non-banking finance companies (NBFCs) to provide key fact statements (KFS) in a simple format to borrowers for all retail and MSME loans.   This would provide critical information...

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IANS 07 February 2024
US banks hold about $2.7 trillion in commercial real-estate loans.   The majority of that, about 80 per cent, according to Goldman Sachs economists, is held by smaller, regional banks -- the ones that the US government hasn’t classified as “too big to fail”, CNN...

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