WHAT IS LOAN
Adani's troubles: Global banks weigh halting fresh credit to Adani after U.S. indictment
Global banks are reassessing their lending to India's Adani Group. This follows fraud charges against its founder, Gautam Adani, by US prosecutors. Banks may pause new loans but retain existing ones. The situation is being closely monitored for its impact on the group's finances and fundraising plans. The Indian government's response is also being watched closely by these international banks.
Muthoot Finance sees strong growth in gold loan portfolio
See, when the loan is given for one year and thereafter, it is treated as an NPA after 90 days. So, when it becomes an NPA, the option for us and the customer has not paid the interest or closed the loan, it is for us to ask him to do it and if he is not doing, then go for auction.
ED arrests 2 Chinese persons in online app loan 'fraud' case
The Enforcement Directorate arrested two Chinese nationals in Tamil Nadu for allegedly running illegal digital loan apps. The accused allegedly used the WazirX crypto platform to launder funds and threatened borrowers with harassment and blackmail. The ED's investigation revealed that the apps charged exorbitant interest rates and exploited vulnerable individuals during the COVID-19 pandemic.
Loan interest rates November 2024: Latest lending rates of HDFC Bank, SBI, PNB, YES Bank, Bank of Baroda, IDBI Bank
Latest lending rates : The Marginal Cost of the Fund-Based Lending Rate, or the MCLR, is the minimum interest rate a financial institution needs to charge for a specific loan. Institutions like SBI, HDFC Bank, Bank of Baroda, and IDBI Bank have increased their lending rates for certain tenures in November 2024.
Bank credit to microfinance borrowers falls by a third
Loan disbursal to microfinance borrowers decreased by 29% in the second quarter. Banks reduced lending more than non-bank lenders. The microfinance market is experiencing stress due to previous over-supply of credit. The outstanding loan portfolio has also decreased. The sector is facing challenges like over-leveraging and inaccurate income assessments.
State Bank of India seeks $1.25 billion in India¡¯s largest bank loan of 2024
State Bank of India is seeking a five-year loan of up to $1.25 billion, marking the largest dollar-denominated loan from India's financial sector this year. The loan, arranged by CTBC Bank, HSBC, and Taipei Fubon Bank, will be used for general corporate purposes.
Latest SBI home loan interest rates: State Bank of India hikes lending rates for these tenures
SBI lending rates: The State Bank of India (SBI) has announced the latest marginal cost of funds-based lending rates (MCLR) on loans for the period November 15- December 15, 2024. SBI has revised lending rates on these three tenures. The revised MCLR is effective from November 15, 2024.
Microfinance sees 29% fall in Q2 loan delivery as lenders avert risks
Loan disbursal to microfinance borrowers decreased by nearly a third in the second quarter. Banks reduced lending more than non-bank lenders. The overall microfinance market size also contracted for two consecutive quarters. The decline is attributed to a deliberate effort to control the overheated market after significant growth in the previous two years.
Defaults coming back to bite, banks rein in growth of unsecured credit
Several lenders said that they now prefer offering loans to customers with credit scores of more than 750 from a cap of 720 seen prior to the onset of stress. Banks are also keeping a very close watch on days past due (DPD), where collection machinery gets triggered at day zero DPD.
PSBs explore new route to home loan evaluation
Some large state-owned banks in India are exploring the possibility of offering home loans to individuals without traditional income proof. This initiative aims to assess borrowers' earnings through alternative methods, such as evaluating QR code transactions for street vendors or estimating the business of roadside eateries based on customer volume and average billing.
Donald Trump is back: What it would mean for US economy and rest of the world
US elections 2024: With Donald Trump all set to become the next President of the US, all eyes are on economy. Trump has promised tax cuts and imposing tariffs if he wins. The election would shape the nation's economic policies, global alliances, and immigration reform. Trump has promised economic changes and make housing affordable in America.
PM Vidyalaxmi scheme 2024 for collateral and guarantor free student loan know what it is, who is eligible and how to apply
PM Vidyalaxmi scheme 2024: The Union Cabinet has introduced PM Vidyalaxmi, a new Central Sector initiative aimed at providing financial support to eligible students, ensuring that financial constraints do not hinder anyone from accessing higher education.
From car loans to credit card interest rate to income tax, what Donald Trump has promised this time
Donald Trump places focus on tariffs and tax cuts in his 2024 economic plan, suggesting elimination of federal income tax, extensive tariffs on imports, and significant corporate tax cuts. He also proposes making car loan interest tax-deductible and capping credit card interest rates. Trump's plans could potentially add trillions to the federal deficit over ten years.
What is a digital credit line? How does it work?
A digital credit line offers flexible and convenient borrowing options by allowing users to access funds as needed within a pre-approved limit. Interest is charged only on the amount withdrawn, making it an ideal solution for managing short-term expenses and fluctuating cash flows.
Bajaj Finance shares in focus ahead of Q2FY25 earnings. Here's what to expect
Shares of Bajaj Finance are expected to gain attention as the company reveals its Q2FY25 earnings, with net interest income projected between Rs 8,810 crore and Rs 9,187 crore, reflecting a 22-28% YoY hike. Analysts predict healthy growth in PAT, NIMs, and robust customer additions.
Stock to watch: IREDA shares in focus ahead of its Q2FY25 earnings. Here's what to expect
IREDA Q2 Results: Shares of IREDA will be in focus as the company announces Q2FY25 earnings today. Expected net profit is Rs 410 crore, a 44% YoY increase, while NII may rise by 45% to Rs 522 crore. Loan sanctions jumped 303% to Rs 17,860 crore.
Gaurav Kochar on what to expect from NBFC stocks going ahead
?There has been over leveraging in the sector and also at the same time there have been tightening norms both by the RBI and the or the SROs.
Home loan EMIs pinching hard? Let¡¯s see what RBI is about to say
RBI MPC October Meeting: The Reserve Bank of India's Monetary Policy Committee, led by Governor Shaktikanta Das, is expected to announce its interest rate decision on October 9, with most analysts predicting no change. A potential rate cut could benefit housing market borrowers with lower EMIs and boost market sentiment.
Small finance banks limit borrower loans amid rising default risks
Small finance banks and micro-finance lenders are capping the number of active loans to a borrower at four to reduce default risk. They are taking this step due to rising stress in unsecured loans. The RBI has also raised concerns about high levels of delinquencies and the end use of loan funds.
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