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Moneylife Digital Team 10 October 2020
A long moratorium exceeding six months can impact credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments, the Reserve Bank of India (RBI) told the Supreme Court.   According to a report from LiveLaw, the central bank has submitted...

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Moneylife Digital Team 13 November 2020
Have you been mis-sold a financial product by your bank? Do you have issues related to loans or deposits? Have you been charged wrongly by the bank? Have you experienced problems while using Internet banking or mobile banking? Tired of waiting for your bank’s response? Not getting a...

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Moneylife Digital Team 16 October 2020
Investors of Modex International, a brokerage firm, which has apparently duped investors of around Rs100 crore can finally hope to get some money from stock exchange investor protection funds.  Although the largest default was on the National Stock Exchange (NSE), the Bombay Stock Exchange...

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Zafar Abbas (IANS) 14 September 2020
Online fraudsters might have mastered the art of duping people with various new stratagems but their inability to communicate fluently in English has limited their reach to the Hindi-speaking belt. An analysis of complaints received on the National Cyber Crime Reporting Portal reveals that...

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Moneylife Digital Team 13 January 2021
Market regulator Securities and Exchange Board of India (SEBI) on Wednesday passed an interim ex-parte order banning Hemant Ghai of CNBC Awaaz and two of his family members from recommending stocks. The order comes in the matter of CNBC Awaaz “Stock 20-20” show co-hosted by Hemant Ghai....

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Maya M 02 October 2021
Over the past two days, confused and angry DHFL investors were flooding social media with complaints of not receiving payments as per their claims. Many complained of having received a raw deal by receiving a far lower amount (compared to what they were anticipating).   Catalyst...

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Moneylife Digital Team 16 October 2020
Close on the heels of several brokerages shutting shops, Mumbai-based Action Financial Services (India) Ltd (AFSL), a listed company, has also closed its business as stock trading member. While AFSL has disabled its terminals from 18 September 2020, several of its clients are clueless about...

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Sucheta Dalal Sucheta Dalal 23 June 2021
On 31 August 2012, the Supreme Court of India (SC) handed down a historic verdict asking two Sahara companies to refund over Rs20,000 crore to investors that was illegally raised through quasi-debentures without regulatory clearance. High drama continued even after the verdict with the Court...

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The Reserve Bank of India (RBI) on Thursday came up with a fresh set of risk capital charges for banks investing in debt instruments such as mutual funds or exchange-traded funds (ETF).   RBI Governor Shaktikanta Das said that computation of total capital charge for market risk shall...

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Yogesh Sapkale Yogesh Sapkale 07 August 2020
Bank of Baroda (BoB) is the second public sector bank to write off bad loans of several thousand crores of rupees, following the foot steps of State Bank of India (SBI), which wrote off Rs1.23 lakh crore and recovered just over 7% in the past eight financial years. Information about BoB’s...

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Moneylife Digital Team 27 July 2020
The plans of public sector banks (PSBs) in India to raise capital from private sources will not be sufficient to mitigate anticipated risks unless supplemented with additional capital support from the State, says Fitch Ratings.    Several large State-run banks have recently announced...

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Vimal Punmiya 23 September 2020
A Will is essentially a written declaration by a person describing her wishes on matters concerning distribution of her self-earned properties, assets and wealth to family, relatives, outsiders, charities, etc, after death. In order to be legally valid, a Will has to be signed in the presence...

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Moneylife Digital Team 27 July 2020
Pune-based activist Vivek Velankar has requested finance minister (FM) Nirmala Sitharaman to direct State Bank of India (SBI) to share detailed information on loan write-offs, efforts taken for recovery, properties attached against these bad debts and manpower allocation done by the lender...

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Bhagyalakshmi Seshachalam Bhagyalakshmi Seshachalam 30 July 2020
31st July happens to be the 40th death anniversary of Mohammed Rafi. Here is a look at some of the things not many people may know about the legendary singer.   Rafi was the second of six sons born to Haji Ali Mohammad. The family belonged to Amritsar. His nickname was Pheeko. He made...

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Yogesh Sapkale Yogesh Sapkale 01 April 2021
As a consumer, you can book more than 12 refills of liquefied petroleum gas (LPG) and there is no waiting period of 14 days between two bookings, a reply received under Right to Information (RTI) shows. This clarification will give a relief for lakhs of domestic LPG customers, who are...

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Yogesh Sapkale Yogesh Sapkale 12 August 2020
Bank of Maharashtra (BoM) has written off bad loans of over Rs7,402 crore in the past years, while recovering a paltry 4% in over eight years from recovery efforts. Like in the case of State Bank of India (SBI) and Bank of Baroda (BoB), where Moneylife had exposed similarly large write-offs...

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Yogesh Sapkale Yogesh Sapkale 06 October 2020
Indian Overseas Bank (IOB) is the latest to join other big banks that have written off bad loans worth thousands of crores of rupees and recovered paltry amounts from defaulters. Strangely though, IOB refused to share this information under the Right to Information (RTI) Act and instead asked...

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Moneylife Digital Team 03 September 2021
The Central Board of Direct Taxes (CBDT) has notified a new rule that mandates senior citizens above 75 years to submit form 12BBA for claiming the benefit of not filing an income tax return (ITR) under section 194P.   The board has notified a new rule 26D, under which senior citizens...

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The Supreme Court (SC) on Monday sought response from the Centre and the RBI with respect to various sectors which require financial restructuring in the wave of the COVID crisis.   A bench headed by Justice Ashok Bhushan and comprising Justices R Subhash Reddy and MR Shah said: "The...

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Debashis Basu Debashis Basu 10 October 2020
We all know that when the coronavirus hit the Indian market, it collapsed like a pack of cards. The Sensex had closed at 41,1170 for the week ended 20th February. In just six weeks, as the panic about pandemic spread, the index was down to 27,590 by the end of 3rd April—a humungous fall of...

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