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Brand Connect 12 February 2021
Given the current economic stagnation plaguing each sector of the economy, Union Budget 2021 was one of the most anticipated events of this financial year for taxpayers.    In an attempt to move the country out of the pandemic introduced slowdown, the Finance Minister introduced...

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Moneylife Digital Team 08 February 2021
Yes. You heard it right. You can easily get a loan to buy a pre-owned or second-hand vehicle of your choice.    Such loans are provided at attractive interest rates and have a repayment tenure of up to five years. Some lenders provide loans of up to 100% of the car’s quoted...

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While usurious lenders, charging astronomical interest and masquerading this as processing fees (to beat the Usurious Loans Act) continue to wreak havoc among desperate borrowers, the Union government has washed its hands off the issue. In a written reply in the Lok Sabha, the ministry of...

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Maya M 29 January 2021
The Reserve Bank of India (RBI) had stopped banks from sending unsolicited credit cards during the tenure of Dr Y Venugopal Reddy as governor. But the menace is back again and cards are being dubiously issued to people without their knowledge or consent. Moneylife has received scores of...

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Maya M 25 January 2021
If you have applied for a loan or credit card, you would be aware how a bank or non-banking financial company (NBFC) asks for a number of documents to assess your creditworthiness.   This process involves gauging your ability to repay the dues  and willingness to make repayments; the...

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Maya M 22 January 2021
Credit information companies (CICs) are independent, third-party organisations that collect financial data regarding loans and credit cards and share it with their members in a comprehensive manner. Individuals also can easily obtain own credit report, including credit score and history by...

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Moneylife Digital Team 15 January 2021
The Delhi High Court on Friday issued notices to the Reserve Bank of India (RBI) and the Central government asking for their stand on a writ petition seeking regulation and control of digital lending platforms operating through mobile apps.    A bench of chief justice DN Patel and...

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Moneylife Digital Team 14 January 2021
After the sterling groundwork of Telangana police, officials from across India are arresting app-based lenders, often linked to Chinese companies. Their ruthless recovery tactics have led to a dozen suicides and finally goaded the police into action. These ruthless lenders, charging usurious...

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Moneylife Digital Team 07 August 2020
Most people avail loans to buy a car, buy a house, for higher education or for other personal reasons. Loans often help us complete important life goals even with inflation on the rise. Equated Monthly Instalments or EMIs form a part of repayment of the loan that we have availed. It is a...

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Brand Connect Post 07 February 2020
A personal loan is an unsecured loan, which means that you do not need to provide any collateral to borrow. Unlike other loans, a personal loan does not require you to keep any collateral or security with the lender. Banks and financial institutions can lend this loan at a lower interest...

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The State Bank of India (SBI) on Friday said it would offer repo rate-linked home loans from July 1, 2019.   It also announced the reduce interest rate on cash credit account and over draft customers with limits of over Rs 1 lakh, from July. The current repo-linked lending Arate...

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Private sector Federal Bank is looking at a 20 per cent growth in business in the current fiscal, an official said on Wednesday.   "We are pursuing a 20 per cent year-on-year growth in business, including deposits and credit, in 2019-20," Federal Bank MD and CEO Shyam Srinivasan...

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Moneylife Digital Team 27 May 2019
The State Commission for Consumer Redressal, Chandigarh, has suggested that RBI conduct a forensic audit of Fullerton Credit Company, a non-banking finance company (NBFC), providing finance to households and small and medium enterprises. This extraordinary suggestion was made following the...

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Moneylife Digital Team 06 November 2018
UPDATED on 10 November 2018 at 1550 to include response from CapitaWorld and SIDBI-led consortium   The Diwali gift from prime minister Narendra Modi to the micro, small and medium enterprises (MSME) sector, may well turn out to be a privacy and security nightmare for small businesses...

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Moneylife Digital Team 21 June 2018
Political and social activists, academics and financial analysts included, a large number of people gathered at the inaugural of Peoples’ Convention on Infrastructure Financing in Mumbai, ahead of the Annual Meeting of Asian Infrastructure Investment Bank (AIIB), decried investments of AIIB...

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The Reserve Bank of India (RBI) on Tuesday enhanced the housing loan limits under priority sector lending (PSL) to Rs 35 lakh in metropolitan centres under the affordable housing scheme.   The RBI in its Second Bi-Monthly Monetary Policy Statement 2018-19 had decide to enhance the...

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Giving significant relief to home buyers, President Ram Nath Kovind on Wednesday gave assent to the ordinance amending the Insolvency and Bankruptcy Code (IBC) to recognise their status as financial creditors.   Being treated as financial creditors would bring home buyers at par...

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For long, parents have been saving for the primary and secondary education of their children, as well as any higher studies. The past 10-15 years have seen a change with more students willing to take on the responsibility to fund their education, and this is where student loans play an...

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Clinton Fernandes 29 May 2018
Where there is an asset, can the lender be far behind? After loan against property, here comes loan against mutual funds (MFs). HDFC Bank has launched an online overdraft (OD) facility that can be set up in under three minutes, for lending money against your mutual fund holdings. The Bank has...

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Abhay Datar 04 May 2018
The duration of a loan, especially a mortgage, tends to be so long that one tends to forget details about what went into the process of procuring the loan. This, sometimes, leads to carelessness in ensuring that the loan is correctly closed.    Every Thursday, I guide people facing...

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