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Moneylife Digital Team 29 March 2025
Contrary to her claim and use of social media trolls to attack Moneylife's managing editor, the very same economic offences wing (EOW) of the Mumbai police that she quoted has confirmed to multiple media outlets that actress Preity Zinta had, indeed, defaulted on a loan repayment to the...

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Praisy Thomas (Bar  and   Bench) 26 March 2025
The Kerala High Court on Wednesday questioned the Central government on whether it intends to consider writing off loans for the victims of the 2024 landslides in Wayanad (In Re: Prevention and Management of Natural Disasters in Kerala).   A Division Bench of Justice AK Jayasankaran Nambiar...

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Sponsored Post 26 March 2025
An instant Personal Loan serves as a reliable financial solution during emergencies, providing quick access to funds when you need them most. Although they are easy to obtain, lenders consider several factors, including your credit score, when evaluating your eligibility. But what if your...

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Moneylife Digital Team 26 March 2025
In a landmark judgement that could have far-reaching implications for homebuyers across India, the Supreme Court has ruled in favour of a group of flat buyers caught in a financial crisis due to a builder's failure to honour its contractual obligations. The case, Akshay Gupta & Ors. vs. ICICI...

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Moneylife Digital Team 25 March 2025
The Reserve Bank of India (RBI) has unveiled the master directions on priority sector lending (PSL) – targets and classification, 2025, which will come into effect from 1 April 2025. The updated framework replaces the previous 2020 guidelines and aims to streamline credit allocation, ensuring...

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Moneylife Digital Team 21 March 2025
In a startling revelation, the Union government disclosed that scheduled commercial banks (SCBs) in the country have written off bad loans (non-performing assets—NPAs) worth a staggering Rs16.35 lakh crore worth of over the past decade. This information was presented in the Lok Sabha by finance...

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Sponsored Post 17 March 2025
Financial experts reveal that your Permanent Account Number (PAN) card can now open the doors to collateral-free personal loans up to 50,000. The PAN card, which has long been viewed solely as proof of tax compliance, is now transforming into a passport for swift access to financing in times of...

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Moneylife Digital Team 13 March 2025
Expressing concern over how homebuyers in the National Capital Region (NCR) have been held 'to ransom', the Supreme Court has hinted at ordering a central bureau of investigation (CBI) probe into an alleged nexus between real estate developers and banks through subvention schemes for various...

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Sponsored Post 04 March 2025
Do you want to attend your dream university but can't afford the high costs? Don't worry; education loans enable aspiring students like you to bridge the financial gap and gain quality education without breaking the bank. These loans cover tuition, living expenses, and other education costs so...

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Sahyaja MS (Bar  and   Bench) 28 February 2025
The Bombay High Court on Friday issued notice to Union Bank of India and the Reserve Bank of India (RBI) in response to a petition filed by industrialist Anil Ambani challenging the classification of his loan account as fraud.   The loan account is linked to the insolvency-bound Reliance...

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SN Thyagarajan (Bar  and   Bench) 26 February 2025
The National Company Law Tribunal (NCLT), New Delhi, on February 25, admitted Ansal Properties and Infrastructure Limited (APIL) to the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016, on a petition filed by IL&FS Financial Services Limited...

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Moneylife Digital Team 11 February 2025
Financial creditors have recovered Rs3.58 lakh crore through 1,119 cases under the liquidation process of the national company law tribunal (NCLT) since the implementation of the Insolvency and Bankruptcy Code (IBC) on 1 June 2016, the Union government informed the Rajya Sabha. However, the...

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Moneylife Digital Team 10 February 2025
Gold loan non-performing assets (NPAs) in commercial banks have surged by 62%, rising from Rs1,513 crore in March 2024 to Rs2,445 crore in June 2024, says the Union government. Responding to a question in the Lok Sabha, Union finance minister (FM) Nirmala Sitharaman says the overall gross NPAs...

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Moneylife Digital Team 21 January 2025
Modifying its guidelines on the settlement of dues of borrowers by asset reconstruction companies (ARCs), the Reserve Bank of India (RBI) says ARCs should use the settlement option only after examining all possible ways to recover dues.    RBI revised its guidelines and the amended paragraph...

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Moneylife Digital Team 31 December 2024
Reserve Bank of India (RBI) has flagged increased stress in the microfinance sector, with rising delinquencies across all types of lenders and ticket sizes. While delinquency levels in consumer credit remained stable for banks and non-banking financial companies (NBFCs), rising impairment can...

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Moneylife Digital Team 27 December 2024
The Reserve Bank of India (RBI) has raised concerns about the growing risks associated with unsecured lending and private credit markets, urging heightened vigilance amidst a cooling credit growth environment. In its annual report on Trends and Progress of Banking in India 2023-24, RBI...

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India’s credit recovery legislations have been unmitigated failures. Until 1985, for credit recovery from non-performing assets (NPAs), the courts of law would take eons to dispose the recovery petitions. The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), which was the first...

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Moneylife Digital Team 29 November 2024
Holding State Bank of India (SBI) responsible for not personally informing the borrower about withdrawing free personal accident insurance cover, the national consumer disputes redressal commission (NCDRC) directed SBI to waive the home loan outstanding of Rs14.30 lakh and pay Rs75,000 as...

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Asset reconstruction companies (ARCs) were designed to clean up the banking sector by resolving non-performing assets (NPAs). Consequently, people outside the banking, finance and investment world had nothing to do with them nor had they heard much about them. A spate of defaults among realty...

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Debayan Roy (Bar  and   Bench) 18 November 2024
The Supreme Court on Monday sought a response from the Union government regarding the non-appointment of chairpersons in 11 Debt Recovery Tribunals (DRTs) across the country.   A Bench of Chief Justice of India (CJI) Sanjiv Khanna and Justice PV Sanjay Kumar issued notice on a plea...

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