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Sponsored Post 17 October 2023
Embarking on buying your dream home is thrilling, but understanding the financials can often be confusing, especially if you are on this journey for the first time. "How will my monthly payments look for a 25 lakh home loan EMI?" – if that's bothering you, this guide is designed precisely for...

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IANS 06 October 2023
The Reserve Bank of India (RBI) on Friday announced an increase in the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from Rs 2 lakhs to Rs 4 lakhs for urban co-operative banks (UCB) who have met the overall PSL target and sub targets as on March 31,...

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IANS 05 October 2023
The RBI on Wednesday formed an external working group to seek independent inputs on how banks could make provisions on bad loans using an expected credit loss (ECL) method which represents a major shift from the current incurred loss-based provisioning regime.   The RBI released a...

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Moneylife Digital Team 20 September 2023
We continue to hear stories of lenders losing mortgaged property documents of borrowers, resulting in mental agony and loss in value for the property. In another judgement on lost property documents, the national consumer disputes redressal commission (NCDRC) directed United Bank of India...

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Moneylife Digital Team 15 September 2023
Paying heed to the grievances of borrowers, the Reserve Bank of India (RBI) has directed all regulated entities (REs), like banks and financial institutions, to release property documents within 30 days after repayment or settlement of personal loans. In case of failure to release documents,...

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Ryan Gabrielson (ProPublica) 15 September 2023
This story was originally published by ProPublica.   Wall Street could always bank on used cars. In fact, for years, investors bought bonds backed by auto loans because they reliably produced handsome returns, even amid rocky markets and downturns in the economy.   But now,...

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Moneylife Digital Team 08 September 2023
Coming down heavily on ICICI Bank Ltd for not keeping safe an original property document of a borrower and trying to shift the liability to a courier company, the national consumer disputes redressal commission (NCDRC) says the safe custody of the original title documents to the property are...

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Moneylife Digital Team 23 August 2023
Refusing to intervene in the orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed IndusInd Bank Ltd to pay a compensation of Rs1.10 lakh to a borrower. The district forum had directed the Bank not to seek from the borrower any outstanding amount...

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Moneylife Digital Team 23 August 2023
Refusing to intervene in the orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed IndusInd Bank Ltd to pay a compensation of Rs1.10 lakh to a borrower. The district forum had directed the Bank not to seek from the borrower any outstanding amount...

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Moneylife Digital Team 18 August 2023
Reserve Bank of India (RBI) has issued guidelines to reset equated monthly instalments (EMIs) based on floating rate personal loans, including allowing borrowers to switch over to a fixed rate as per the bank board approved policy. Moneylife Foundation has been relentlessly campaigning...

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Moneylife Digital Team 10 August 2023
Reserve Bank of India (RBI) has decided to put in place a proper conduct framework to be implemented by all regulated entities (REs) to address issues faced by the borrowers, especially about interest rate reset on equated monthly instalments (EMI) for floating interest loans. Moneylife...

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Moneylife Digital Team 10 August 2023
Following the death by suicide of veteran art director Nitin Chandrakant Desai, one more borrower from the entertainment industry has levelled serious allegations against Edelweiss Asset Reconstruction Company (EARC) and top executives of the Edelweiss group. However, EARC says it is not the...

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Sponsored Post 27 July 2023
Purchasing your dream bike is no small feat. It takes a lot of research and planning. The most important factor that influences your buying decision is your finances. Ensuring you have sufficient funds to afford the bike of your choice is vital. An easy way to finance such big-ticket...

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Sponsored Post 27 July 2023
Your credit score plays a significant role in the approval and rejection of your credit card and loan applications. This three-digit number represents your creditworthiness and repayment capability. The credit score is computed by a credit bureau on the basis of multiple factors including...

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Sponsored Post 26 July 2023
Personal loan is an unsecured credit option offered by banks and NBFCs to help consumers meet their personal and business related financial requirements. Both salaried and self-employed individuals can avail the loan without pledging any collateral and with fewer formalities and quicker...

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Union finance minister (FM) Nirmala Sitharaman on Monday said in Lok Sabha through an intervention that all banks whether public or private have been instructed through the Reserve Bank of India (RBI) to deal with poor farmers in a humane and sensitive manner on the issue of repayment of...

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Sponsored Post 21 July 2023
With digitisation, Personal Loan apps have become the preferred borrowing option for salaried and self-employed professionals. In fact, did you know that in India, the usage of Personal Loan apps has witnessed a significant surge, offering borrowers...

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Driven by personal loan demand, the credit offtake from banks rose by 16.3% year-on-year (y-o-y), while the deposits grew slower at 10.2% during the last quarter of FY22-23, Credit Rating agency CARE...

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Sponsored Post 13 July 2023
Is it your dream to have a home of your own? Are you ready to finally take the plunge and commit yourself to the process of buying a home? Are the constantly increasing home prices worrying you? Are you unsure about how will you finance your property purchase?   In this brief guide on...

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Residential housing loans' share on total advances rose to 14.2 per cent in March 2023 from 8.6 per cent in March 2012, according to RBI's financial stability report.   The report, which is a half yearly account of banks' health in the country, also noted that the housing sector in...

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