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Union Budget 2021: Banks should not escape cost incurred by system due to bad loans
India

Union Budget 2021: Banks should not escape cost incurred by system due to bad loans

The key to the efficient functioning of a bad bank is that it should never be looked at as a funding institution where bad loans are routinely transferred

Laid off during lockdown, Hyderabad-based techie dies by suicide due to harassment from online lender
India

Laid off during lockdown, Hyderabad-based techie dies by suicide due to harassment from online lender

The police is investigating several online lender app companies, which allegedly obtained sensitive data such as contacts and photographs from the mobile phones of customers and used them to defame or blackmail the victims to get the repayment

Coronavirus Lockdown: RBI may extend moratorium on repayment of loans for three more months, says report
Business

Coronavirus Lockdown: RBI may extend moratorium on repayment of loans for three more months, says report

With the government extending the nationwide lockdown up to 31 May, the Reserve Bank of India (RBI) is likely to extend the moratorium on repayment of loans for three more months, according to an SBI research report

Coronavirus Outbreak: World Bank approves $1 bn loans for India for social protection response program
Business

Coronavirus Outbreak: World Bank approves $1 bn loans for India for social protection response program

The World Bank on Friday approved USD 1 billion ''Accelerating India’s COVID-19 Social Protection Response Program'' to support the country''s efforts for providing social assistance to the poor and vulnerable households, severely impacted by the pandemic

Coronavirus Outbreak: BRICS' New Development Bank provides $1bn loan to India to fight pandemic
Business

Coronavirus Outbreak: BRICS' New Development Bank provides $1bn loan to India to fight pandemic

The New Development Bank of the BRICS countries has fully disbursed USD one billion emergency assistance loan to India to help it contain the spread of COVID-19 and reduce human, social and economic losses caused by the coronavirus pandemic

RBI allows three month's moratorium on EMIs: Here are the steps to follow if you are an account holder in SBI, ICICI and HDFC banks
Business

RBI allows three month's moratorium on EMIs: Here are the steps to follow if you are an account holder in SBI, ICICI and HDFC banks

Here’s what you need to do to apply for a moratorium on loan EMIs and standing instructions provided by several banks such as SBI, ICICI Bank and HDFC Bank

Coronavirus Outbreak: PSU banks announce moratoriums on loan EMIs following RBI directive
Business

Coronavirus Outbreak: PSU banks announce moratoriums on loan EMIs following RBI directive

Several reports have stated that despite the central bank's guidelines, borrowers were receiving messages reminding them that their EMI is due.

Yes Bank scam: Rana Kapoor's ED custody extended till 16 March; agency says founder sanctioned loans of Rs 30,000 cr in his tenure
Business

Yes Bank scam: Rana Kapoor's ED custody extended till 16 March; agency says founder sanctioned loans of Rs 30,000 cr in his tenure

While seeking his custody, the ED told the court that loans worth Rs 30,000 crore were given to various entities when Kapoor was on the bank's panel.

Moratorium, withdrawal cap on Yes Bank credit negative; move to affect timely repayment of depositors, creditors: Moody's
Business

Moratorium, withdrawal cap on Yes Bank credit negative; move to affect timely repayment of depositors, creditors: Moody's

The central bank on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account and superseded the board of the private sector lender with immediate effect.

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das
Business

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das

If the Reserve Bank of India (RBI) cuts the repo rate today, it would be the sixth reduction in the short-term lending rate this financial year.

PMC Bank scam raises serious questions on RBI’s efficiency as regulator; central bank should wake up from its slumber
Business

PMC Bank scam raises serious questions on RBI’s efficiency as regulator; central bank should wake up from its slumber

The PMC Bank fraud case gives aspiring crooks lessons on how to smartly fool the all-powerful RBI and commit major financial frauds.

BRICS' New Development Bank to provide Rs 6,000-crore loan to Andhra Pradesh for social infrastructure projects
India

BRICS' New Development Bank to provide Rs 6,000-crore loan to Andhra Pradesh for social infrastructure projects

New Development Bank (NDB) will provide a loan of Rs 6,000 crore to Andhra Pradesh for various social infrastructure projects in the state

Bank NPAs: Despite continuing write-offs, decline in NPAs after a long gap is good news for industry
Business

Bank NPAs: Despite continuing write-offs, decline in NPAs after a long gap is good news for industry

A part of the reason why NPAs must have shown a decline could be technical write-offs of NPAs

Amitabh Bachchan pays off loan of 2100 farmers from Bihar: 'A promise made done'
Entertainment

Amitabh Bachchan pays off loan of 2100 farmers from Bihar: 'A promise made done'

Amitabh Bachchan had earlier supported 1,398 farmers from Uttar Pradesh and 350 from Maharashtra by paying off their loans.

Anil Ambani claims to have repaid Rs 25,000 cr in past 14 months, says committed to meet debt obligations
Business

Anil Ambani claims to have repaid Rs 25,000 cr in past 14 months, says committed to meet debt obligations

Seeking to allay investor concerns after stocks of his group firms took a beating on the bourses, Reliance Group Chairman Anil Ambani on Tuesday said his group is committed to meet all payment obligations in a timely manner and has already serviced debt worth Rs 35,000 crore in last 14 months

Shilpa Shetty Kundra, family sued by automobile agency proprietor over alleged non-payment of dues
Entertainment

Shilpa Shetty Kundra, family sued by automobile agency proprietor over alleged non-payment of dues

Shilpa Shetty Kundra, her sister Shamita Shetty and their mother Sunanda are being dragged to court over non-payment of a loan advanced to Shilpa's late father.

Maharashtra govt reaches out to backward classes ahead of 2019 polls, okays schemes worth Rs 736 cr
India

Maharashtra govt reaches out to backward classes ahead of 2019 polls, okays schemes worth Rs 736 cr

Maharashtra Cabinet approved several schemes worth Rs 736 crores for backward classes, including financial support in the forms of the individual loan, group loan and interest subvention to OBCs, SCs and STs

Why reverse mortgage isn’t catching the imagination of India's elders despite income tax exemptions
Business

Why reverse mortgage isn’t catching the imagination of India's elders despite income tax exemptions

Reverse mortgage was introduced in India by Budget 2007-8 with National Housing Bank (NHB) assigned the role of the pivot

Indian companies' foreign investment declines 36% to $1.39 bn in July, shows RBI data
Business

Indian companies' foreign investment declines 36% to $1.39 bn in July, shows RBI data

Of the $1.39 billion invested in July this year, $608.52 million was the equity capital, $406.74 million was through loan and $371.86 million came in the form of issuance of guarantees.