Loan Liability

Policy loan now mandatory in all life insurance savings products: Irdai

Regulator Irdai on Wednesday said the facility of policy loan is now mandatory in all life insurance savings products, enabling policyholders to meet liquidity requirements. Issuing a master circular which consolidates all regulations with regards to life insurance policies, the Insurance Regulatory and Development Authority of India (Irdai) also said the free look period, which provides time to review the policy terms and conditions, is 30 days as against 15 days earlier. The latest master circular follows a similar exercise by the regulator for general insurance policies. "This is an important step in the series of reforms taken up by the insurance regulator with interests of the policyholders at the core. A conducive environment is now facilitated to spur innovation, enhance customer experience and satisfaction," Irdai said. According to the master circular, the facility of partial withdrawal under pension products is allowed enabling the policyholders to meet their specific ...

RBI's regulatory clampdown may tighten loan growth next year: S&P Global

The regulatory actions would enhance the operational resilience of the system, says the rating agency

States' loan guarantee more than triples since FY17 to Rs 9.4 trn in FY23

The total loan guarantees extended by 17 major states to their entities have more than tripled to Rs 9.4 lakh crore by FY23 from Rs 3 lakh crore in FY17, says a report. While guarantees are contingent liabilities, they may pose a risk to states' fiscal health if a substantial proportion of the stock needs to be serviced by them, warranting robust guarantee monitoring and prudent extension of guarantees in the future so that the financial system as a whole remains resilient. States often sanction and issue on behalf of their various enterprises, cooperative institutions, and urban local bodies guarantees in favour of their lenders which are generally banks or other financial institutions. The total loan guarantees extended by the 17 major states to their entities have more than tripled to Rs 9.4 lakh crore as of FY23 from Rs 3 lakh crore in FY17. This is equivalent to the entire increase in such guarantees of these states during FY2017-22, Icra Ratings chief economist Aditi Nayar sai

Edtech company Byju's plans asset sale to pay off $1.2 billion loan

The lenders are evaluating Byju's proposed amendment and have reportedly asked for more information about the loan repayment proposal

Allow MSMEs to pay liabilities in tranches: Exporters urge Centre

The scheme was announced by DGFT in the Foreign Trade Policy (FTP) on March 31 and is set to benefit 2,500-3,000 exporters

Pakistan has 'technically' defaulted with continuous loan rollovers

While Pakistan has not officially defaulted, but with continuous rollovers of loans that have come from China, Saudi Arabia, and the UAE among others, the country has already done so 'technically'

Shift to old pension scheme may lead to liability add-up in future: Rajan

In an interview to online portal on sidelines of World Economic Forum (WEF) at Davos, Rajan said that reason why new pension scheme was adopted because in old scheme, huge liabilities had built up

Liability management now top priority for lenders: Private bank CEOs

Private bankers said there were signs that the credit demand was durable and as such the landscape for banks' management of assets and liabilities would remain challenging for quite some time

Govt's total liabilities rose to Rs 125.71 trillion in Sept quarter: Data

The increase reflects a quarter-on-quarter increase of 3.97 per cent in the July-September period of 2021-22

Responsibility with caution: Wife need not be married to husband's debts

If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Ways to ring-fence her assets