LOANS


Sponsored Post 03 July 2023
Purchasing a home is a significant financial commitment for most individuals and securing the right housing loan is crucial to make this dream a reality. With numerous loan options available in the market, it's essential to carefully consider various factors before making a well-informed...

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Sponsored Post 27 June 2023
It isn't uncommon for businesses to rely on credit to keep operations running, and thankfully accessing loans has become quite easy. Business loans are now available online in just a few clicks, and most lenders even extend specialised offers.   This is mainly because the eligibility...

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The Reserve Bank of India (RBI) defined wilful defaulters a decade ago in its circular RBI/2013-14/63, DBOD No. CID.BC. 3 /20.16.003/2013-14 dated 1 July 2013. Wilful default broadly covered the following:   a) Deliberate non-payment of the dues, despite adequate cash-flow and good...

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Moneylife Digital Team  and   IANS 16 June 2023
The Reserve Bank of India (RBI) could levy penalties on banks for the loss of property documents that were pledged with them by borrowers if a recommendation by the high-level committee under former deputy governor BP Kanungo is accepted. Recently, the committee to review customer service...

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Moneylife Digital Team 13 June 2023
Criticising the move by Reserve Bank of India (RBI) to allow banks and lenders to settle loans of wilful defaulters under compromise settlement, the All India Bank Officers' Confederation  (AIBOC) and All India Bank Employees Association (AIBEA) call it a detrimental step that may compromise...

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In a significant move, the Union Cabinet on Wednesday approved the third package for BSNL, as part of the revival strategy, with the total outlay of Rs89,047 crore.   It includes allotment of 4G and 5G spectrum for BSNL through equity infusion.   The authorised capital of BSNL...

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Moneylife Digital Team 31 May 2023
In a significant decision, while cautioning banks to adopt a humanitarian approach, the Kerala High Court (HC) ruled that an education loan cannot be rejected due to the low credit score of the applicant student.    In an order, the bench of justice PV Kunhikrishnan observed, "While...

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Sponsored Post 19 May 2023
As a doctor, you constantly strive to provide the best health care to your patients. Having the latest equipment and facilities can help you achieve this, but upgrading your practice is costly. Thankfully, a collateral-free, customised loan for professionals is a viable option to...

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Sponsored Post 18 May 2023
A pre-approved personal loan offers quick disbursal and flexible repayment options along with a host of other features, making it an ideal choice when you need funds immediately.   The typical, old-fashioned borrowing experience is quite contradictory to the fast-paced nature of...

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Moneylife Digital Team 19 April 2023
Upholding the orders passed by the fora below, the national consumer disputes redressal commission (NCDRC) directed Bank of Baroda to pay Rs1 lakh each as compensation to two students who had obtained an education loan. NCDRC held that there was a deficiency in service on the part of the Bank...

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A combination of factors like the increased loan repayment instalments due to the earlier repo rate hikes by the Reserve Bank of India (RBI), limited refinancing options for small and medium enterprise (SME), slowing down of property price growth has increased the risk of loan delinquencies...

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In a stern order early this week, the central information commission (CIC) has slammed a show-cause notice as to why a penalty should not be imposed on the two public information officers (PIOs) of the Prathma UP Gramin Bank, Moradabad, and also ordered them to provide information on the...

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Moneylife Digital Team 13 April 2023
Many regulated entities (REs) use penal rates of interest, over and above the applicable interest rates, in case of defaults or non-compliance by the borrower with the terms on which credit facilities were sanctioned. To review extant regulatory guidelines on levy of penal interest, the...

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Moneylife Digital Team 08 April 2023
“When you do not need a particular loan or credit card, or you know that you can manage your life without that loan, don’t simply say yes to any enquiries or requests that come to you. Even if a loan or a credit card is not approved or sanctioned, just having a bunch of enquiries listed out...

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When the finance ministry admits in Parliament that banks have written off a stunning Rs10.09 lakh crore in just five financial years (FY17-18 to FY21-22), there cannot be any public sympathy for corporate defaulters. Especially when the government also admits that it infused Rs2.76 lakh...

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Yes, the kettle is definitely black, very black.   But, truth be told, the pot is not much better.   You may have read my recent article about Pakistan’s power sector and ‘circular debt’ .   A reader (PP Godbole) made me aware that India’s power sector is in a similar...

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Moneylife Digital Team 30 March 2023
While allowing a writ petition filed by Punjab National Bank (PNB) against the assistant commissioner of state tax, the Bombay High Court (HC) ruled that the Bank has priority over mortgaged assets since the Securitisation and Reconstruction of Financial Assets and Enforcement of Security...

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Moneylife Digital Team 29 March 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration certificate of Anugrah Stock and Broking Pvt Ltd (Anugrah/ ASBPL) for indulging in unregistered portfolio management services (PMS) activities, failing to maintain proper books of accounts and...

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Moneylife Digital Team 28 March 2023
The Union government on Tuesday extended the deadline for linking a permanent account number (PAN) with an Aadhaar number to 30 June 2023.    In a release, the ministry of finance says, "To provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended...

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The Delhi High Court on Monday granted six weeks' time to Reserve Bank of India (RBI) for filing response in a plea seeking directions to implement Uniform Banking Code.   Filed as a Public Interest Litigation (PIL) by Advocate and BJP leader Ashwini Kumar Upadhyay, the plea brings up...

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