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Moneylife Digital Team 23 March 2022
After facing public outrage over unaccounted loans appearing on the credit reports of people Dhani Loans and Services Ltd (Dhani) has called for a joint action from the digital lending sector to deal with the problem at a systemic level. To begin with, Dhani has requested credit information...

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IANS 04 February 2022
The Delhi High Court has restrained banks and housing finance companies from taking any coercive action to recover EMIs from homebuyers over incomplete projects on a plea by a group of homebuyers.   In a recent court order, the bench of Justice Rekha Palli, while hearing a case...

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Moneylife Digital Team 27 July 2021
The Delhi High Court (HC) has directed Reserve Bank of India (RBI) to come out with a clear stand for regulation of online lending platforms which are charging exorbitant interest rates from borrowers.    A report from LiveLaw says that  a division bench of chief justice DN Patel and...

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Moneylife Digital Team 15 July 2021
Securitisation deals gained traction in June after a subdued April and May, boosting the volume for the first quarter of this fiscal by nearly three times year-on-year (y-o-y) to Rs20,000 crore.   Nevertheless, this was still only half of the pre-pandemic average as volumes in first...

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Moneylife Digital Team 18 June 2021
Low interest rates have shifted many retail assets from the safety of bank fixed deposits to market-linked investments like bonds and debentures.   Although we do not suggest such investments for most people, due to the taxation of interest at marginal rate, borrower’s risk of default...

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The increased diversity in borrower profiles is indicated by the fact that, in 2020, 49 per cent of first-time borrowers were less than 30 years old and 71 per cent were based in non-metro locations, while 24 per cent were women, according to a joint report by Transunion CIBIL and Google...

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Brand Connect 19 May 2021
In case of financial emergencies, your first instinct may be to liquidate investments like fixed deposits. However, by doing so, you will be compromising on your investment goals. Typically, with liquidity in mind, you can also think of availing of a gold loan, to raise a hefty sum quickly....

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Moneylife Digital Team 05 May 2021
The Reserve Bank of India (RBI) on Wednesday decided to provide a window for restructuring to individual and small borrowers having a loan of up to Rs25 crore if it was not availed earlier. Further, the central bank announced Rs50,000 crore liquidity for ramping up COVID-related healthcare...

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Brand Connect 16 April 2021
Home loans can substantially impact your financial health and even your quality of life in the long run. The lending terms you agree to will dictate how financially comfortable or distressed you are for many years to come. Finding the right EMI amount, which is feasible as well as ensures...

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Moneylife Digital Team 07 April 2021
The Reserve Bank of India (RBI) has asked all banks and non-banks to refund interest-on-interest to all borrowers for the six month moratorium period that ended on 31 August 2020.   The central bank also clarified that asset classification of borrower accounts by all lending...

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The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company - Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter.   The average base rate charged during the...

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Moneylife Digital Team 23 March 2021
The Supreme Court on Tuesday rejected all pleas that were seeking complete waiver of interest on loan during the moratorium period granted due to COVID-19 pandemic. While refusing to interfere with the government and Reserve Bank of India (RBI)'s policy on loan moratorium, the apex court...

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Lending major State Bank of India on Monday announced a limited period 'home loan' offer entailing a concession of up to 70 bps with interest rates starting from 6.70 per cent onwards.   Accordingly, the limited period offer ends on March 31, 2021 with home loan interest rates...

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IANS 19 February 2021
A website that goes by the name of 'Pradhan Mantri Yojana Loan' and was earlier linked to a Google Play Store app with the same name (the app has now been removed) is luring Indians in providing loans, in exchange for personal identifiable information that can potentially be misused online,...

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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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