Banks' loan and deposit growth has been slower so far in the current fiscal year than the Reserve Bank of India's full-year projection, according to data released by the central bank.<br /><br />
Reserve Bank of India (RBI) governor, Raghuram Rajan, said the government was in talks with the bank to decide the contours of a package for retail investors for the festive season, which would be announced soon.
Cheap loans for two-wheelers and durables is not the right way to revive consumer spending.
The court restrained secured creditors by a prohibitory order from taking such recourse as it held that the threat to publish photographs borders on extra-legal means to recover the dues.
The Finance Ministry today said loans extended by banks to infrastructure projects, especially in the roads and power sector, will be treated as secured finance even in the absence of tangible collaterals.
Borrowers can now look forward to their EMIs coming down soon as leading bankers today said they will pass on the benefit of RBI reducing its short-term lending rate and cash reserve ratio to customers.
Looks like the Reserve Bank of India and the finance ministry are again at loggerheads. However, this time it is not over interest rates, but over taming soaring realty prices.
Turning down a request for Rs 200 crore working loan by Kingfisher, the SBI-led lenders consortium today asked SBI Capitals to chalk out a fresh revival plan for the cash-strapped airline in the next 2-3 weeks.
In short, rest defines the periodicity at which the principal amount is reduced as you repay the loan.
Banks are exposed to significant bad loans with its exposure to power sector touching Rs 9 lakh crore in next three years. New power projects having a total capacity of 40-50 GW could be in danger of defaulting on their debt obligations.
In its policy document today, RBI urged banks to adopt a unique customer identification code system for their clients to enable faster processing of financial transactions.