Page 5 - Loans

Does your loan fulfil the AA criteria?

A good loan must fulfil the AA criteria: it should 'add' to assets or income and should be 'appropriate', meaning EMI shouldn't exceed one-third of income

Lenders form panel to protect bank executives against graft cases

The committee, headed by D C Jain, a former senior officer with the CBI, is expected to suggest ways to protect bank executives from arbitrary actions related to loan decisions

Muthoot Finance Q3 results: Profit up 14% at Rs 1,027 cr on loan growth

The board also approved raising up to 160 billion rupees through an issue of non-convertible debentures

LIC Housing Finance expects to report 15% improvement in FY25 loan book

The disbursements in third quarter of FY24 was at Rs 15184 crore 5 per cent lower from Rs 16100 crore in the year ago period

Aim to double AUM to Rs 20,000 crore by FY27, says HomeFirst MD & CEO

Viswanathan discusses the demand in the housing segment and expansion plans

Murugappa Group's finance firm Chola expects AUM growth of 20-25% in FY25

Company expects healthy growth in its key business of vehicle loans and new initiatives in lending to consumer and small enterprises

Cash-strapped Pakistan seeks $2 billion loan from close ally China

Cash-strapped Pakistan has sought financial assistance of USD 2 billion from its close ally China for a year, according to a media report on Saturday. Caretaker Prime Minister Anwaarul Haq Kakar, in a letter, has requested his Chinese Premier Li Qiang to roll over the debt as soon as the deposit time for the loan from China is completed on March 23. In his letter, Kakar expressed gratitude to China for its financial assistance to Pakistan during its economic crisis as the cash-strapped country has secured a safe deposit of a total of USD 4 billion in loans from China, reducing the country's mounting pressure on external debt payments and stabilising its foreign exchange reserves, The Express Tribune newspaper reported. Earlier this month, the UAE rolled over Pakistan's maturing loan of USD 2 billion. Apart from the UAE, Saudi Arabia has deposited USD 5 billion with the State Bank of Pakistan. Following the loan rollover by the UAE, the interim government requested the Internationa

Loans for purchasing cars a rising trend in India, finds Jato Dynamics

Fleet sales, which comprise car sales to companies, organisations, and government entities that own a fleet of cars, have also seen a significant increase

HSBC ranked first for India offshore loans in 2023 helped by Reliance deals

Data compiled Bloomberg show the British bank was the bookrunner on roughly $4 billion of US-currency transactions in 2023

Backed by Jio Platforms, ZestMoney founders launch new venture SwiffyLabs

The goal of their new venture is to help financial institutions launch new-age products and leverage AI and Digital Public Infrastructure (DPI)

UP govt distributes loans worth Rs 1.72 trn in FY24 to boost MSME sector

The MSME advances clocked Rs 1.5 trillion in FY23 against the target of Rs 78,000 crore, proliferating by 191 per cent

Coffee Day Enterprises' total default rises to Rs 434 cr in Dec quarter

Coffee Day Enterprises Ltd has reported a total default of Rs 433.91 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions, and unlisted debt securities for the December quarter. Coffee Day Enterprises Ltd (CDEL), which is paring its debts through asset resolution, in a regulatory update said "the delay in debt servicing is due to liquidity crisis". CDEL reported a default of Rs 183.36 crore on the payment of the principal amount on loans or revolving facilities like cash credit from banks or financial institutions as on December 31, 2023. Besides, it has also defaulted on the repayment of interest of Rs 5.78 crore on the above. For unlisted debt securities such as Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS), the default amount was Rs 200 crore as on December 31, along with a default in payment of interest of Rs 44.77 crore. "Due to default in repayment of interest and principal...

RBI stays vigilant, committed to early, decisive action: Governor Das

He stated that the recent implementation of macroprudential measures, aimed specifically at tempering lenders' enthusiasm in certain segments of retail loans

Vehicle loan AUM for NBFCs to cross Rs 8 trillion in 2024-25: CRISIL

The growth in AUMs will be driven by rising demand for commercial vehicles, cars, utility vehicles, and two-/three-wheelers

Govt directs digital platforms not to carry ads of fraudulent loan apps

The government has directed social media and online platforms to ensure that they do not host advertisements of fraudulent loan apps, Union Minister Rajeev Chandrasekhar said on Wednesday. Chandrasekhar said the IT ministry has made it clear to the platforms that they cannot carry fraudulent loan apps as those are misleading and exploit people using the internet. "One of the areas we are now cracking down on is advertising of fraudulent loan apps that many platforms are carrying and we have, through yesterday's advisory, made it clear that no intermediary can carry advertisements of fraudulent loan apps because it will be misleading and exploits people who are using the internet," the Minister of State for Electronics and IT said on the sidelines of an event. Jurisprudence and government approach on safe and trusted internet is evolving, he said adding that IT rules clearly specify 11 areas of prohibited content.

Only 18% digital loan borrowers understand data privacy rules: Study

60% of them are worried about how personal data is collected and used by lending apps

Outward FDI halves Y-o-Y to $1.55 billion in November, shows RBI data

Outbound FDI, expressed as a financial commitment, comprises three components - equity, loans, and guarantees

Credit-deposit ratios of Indian banks may weaken, dent margins in 2024: S&P

Asset quality to stay on improvement trajectory

CBI opposes statutory bail granted to DHFL's Wadhawans in loan scam case

The CBI on Tuesday assailed in the Supreme Court the statutory bail granted by courts below to former Dewan Housing Finance Corporation Limited (DHFL) promoters Kapil Wadhawan and his brother Dheeraj in connection with a multi-crore rupees bank loan scam case. A bench comprising Justices Bela M Trivedi and Satish Chandra Sharma was told by Additional Solicitor General (ASG) S V Raju, appearing for the CBI, that the charge sheet in the case was filed well within the 90 days statutory period and yet the statutory bail was granted to the accused. Under the Code of Criminal Procedure (CrPC), an accused becomes entitled for grant of statutory bail if the probe agency fails to file the charge sheet on conclusion of the investigation in a criminal case within 60 or 90 days period. In this case, the CBI filed the charge sheet on the 88th day after registration of the FIR and the trial court granted default bail to the accused and the Delhi High Court upheld the order, the law officer ...

RBI cautions against misleading advertisements on loan waiver offers

The Reserve Bank on Monday cautioned public not to fall prey to misleading advertisements related to loan waiver offers in print media as well as on social media platforms. In a statement, the RBI said it has noticed certain misleading advertisements enticing borrowers by offering loan waivers. These entities, it said, seem to be actively promoting many such campaigns across the print media as well as social media platforms. There are also reports of such entities charging a service/legal fee for issuing 'debt waiver certificates' without any authority. The central bank further said that in certain locations, campaigns related to debt waiver offers are being run by a few persons, which undermine the efforts of banks in enforcing their rights. "Such entities are misrepresenting that dues to financial institutions including banks need not be repaid. Such activities undermine the stability of financial institutions and, above all, the interest of the depositors," the RBI said. RBI .