Loans

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Loans - Total results - 202
Bank of Baroda cuts MCLR by up to 10 bps effective 12 February; home, auto loans to become cheaper
Business

Bank of Baroda cuts MCLR by up to 10 bps effective 12 February; home, auto loans to become cheaper

State-owned Bank of Baroda on Monday announced cut in its marginal cost of funds-based lending rates (MCLR) by up to 10 basis points, effective 12 February

Bankers’ 3Cs phobia: More persons should be brought on board loan panels to make lending a responsible task
Business

Bankers’ 3Cs phobia: More persons should be brought on board loan panels to make lending a responsible task

Banks must involve the officials involved in the loan sanctioning process in the recovery or collection process as well..

Nearly 3% of Rs 6 lakh cr loans sanctioned under Pradhan Mantri Mudra Yojana turn NPAs: Govt
Business

Nearly 3% of Rs 6 lakh cr loans sanctioned under Pradhan Mantri Mudra Yojana turn NPAs: Govt

The government on Tuesday said close to 3 percent of Rs 6.04 lakh crore worth of loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) has turned into bad loans

Indian banks need $7 bn additional capital by 2020-21 to support loan growth, cover for bad loans: Fitch Ratings
Business

Indian banks need $7 bn additional capital by 2020-21 to support loan growth, cover for bad loans: Fitch Ratings

Indian banks need an additional $7 billion (Rs 50,000 crore) equity by 2020-21 to support loan growth and cover for bad loans, Fitch Ratings said on Tuesday adding a slowing economy could exacerbate asset-quality tension for a sector grappling with weak recoveries and ageing provisions

RBI asks banks to monitor Mudra loans closely; red flags rising NPA level
Business

RBI asks banks to monitor Mudra loans closely; red flags rising NPA level

Reserve Bank Deputy Governor MK Jain on Tuesday raised concerns over the growing NPA levels in Mudra loans and asked banks to monitor these loans closely

Govt extends moratorium for repayments by 6 months on Rs 15,000 cr soft loan to sugar mills
Business

Govt extends moratorium for repayments by 6 months on Rs 15,000 cr soft loan to sugar mills

As the Rs 15,000 crore soft loan scheme for sugar mills is moving at a snail's pace, the government has extended the moratorium period for repayments by six more months, according to sources

Govt's Rs 15,000-cr soft loan scheme to sugar mills moving at snail's pace: Industry experts
Business

Govt's Rs 15,000-cr soft loan scheme to sugar mills moving at snail's pace: Industry experts

The government's Rs 15,000-crore soft loan programme for sugar mills to set up ethanol units is moving at a very slow pace as banks have so far disbursed only about Rs 800 crore, industry experts have said

SBI cuts savings bank account interest rate by 25 bps to 3.25%, slashes fixed deposits rates by up to 30 bps
Business

SBI cuts savings bank account interest rate by 25 bps to 3.25%, slashes fixed deposits rates by up to 30 bps

In view of the adequate liquidity in the system, the State Bank Group on Wednesday revised interest rate on savings bank deposits (with balances up to Rs 1 lakh) from 3.50 percent to 3.25 percent effective 1 November

SBI cuts lending rates by 10 bps, new rates to be effective from tomorrow; rate reduction not applicable to repo-linked loans
Business

SBI cuts lending rates by 10 bps, new rates to be effective from tomorrow; rate reduction not applicable to repo-linked loans

State Bank of India (SBI) on Wednesday announced reduction in its marginal cost of fund-based lending (MCLR) rate by 10 basis points across all tenors, effective 10 October

RBI move caused lot of harm to depositors; could have managed the situation better, says suspended PMC Bank MD
Business

RBI move caused lot of harm to depositors; could have managed the situation better, says suspended PMC Bank MD

The now-suspended management did not report the matter to the board that its largest customer has been an NPA from the past two-three years

SBI to adopt repo rate as external benchmark for all floating rate loans from 1 October
Business

SBI to adopt repo rate as external benchmark for all floating rate loans from 1 October

State Bank of India on Monday said it will adopt repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans, from 1 October, 2019

NCLAT rejects Ruia's bid to block ArcelorMittal; approves bid for Essar Steel with modification
Business

NCLAT rejects Ruia's bid to block ArcelorMittal; approves bid for Essar Steel with modification

Essar Steel was auctioned under the new Insolvency and Bankruptcy Code (IBC) to recover Rs 54,547 crore of unpaid dues of financial lenders and operational creditors.

CGTMSE approves 4.35 lakh guarantees for Rs 30K-cr loans in FY19, registers highest-ever growth of 58%
Business

CGTMSE approves 4.35 lakh guarantees for Rs 30K-cr loans in FY19, registers highest-ever growth of 58%

CGTMSE is a trust set up by the government and Small Industries Development Bank of India (Sidbi).

Union Budget 2019:  Why annual financial statement containing govt’s revenue and expenditure for a fiscal year is important
Business

Union Budget 2019: Why annual financial statement containing govt’s revenue and expenditure for a fiscal year is important

The Union Budget is the annual financial statement that contains the government’s revenue and expenditure for a fiscal year

Customer complaints against banks surge 25% to 1.63 lakh in FY18; SBI leads among PSBs, HDFC in private sector
Business

Customer complaints against banks surge 25% to 1.63 lakh in FY18; SBI leads among PSBs, HDFC in private sector

The major grounds of complaints received during the year was non-observance of fair practices code, ATM. credit card and debit card issues

Exclusive: PNB hit by another fraud, CBI investigating alleged Rs 250-crore scam by Hanjer Group
Business

Exclusive: PNB hit by another fraud, CBI investigating alleged Rs 250-crore scam by Hanjer Group

Punjab National Bank (PNB), which was defrauded of Rs 11,400 crore by Nirav Modi, has been hit by another scam, this time by the Hanjer Group of companies.

Bank of Baroda slashes lending rate by 10 basis points; move will make home, auto and other loans cheaper
Business

Bank of Baroda slashes lending rate by 10 basis points; move will make home, auto and other loans cheaper

State-owned Bank of Baroda (BoB) on Tuesday cut benchmark lending rate by 0.1 percentage points, a move that would make home, auto and other loans cheaper

Bad loans under Pradhan Mantri Mudra Yojana stands at Rs 7,277 cr till March 2018
Business

Bad loans under Pradhan Mantri Mudra Yojana stands at Rs 7,277 cr till March 2018

Loans extended under PMMY from inception of the scheme up to March 2018 by all member lending institutions (MLIs) were Rs 5.71 lakh crore,

60-year-old farmer commits suicide in Maharashtra’s Mukhed village due to crop failure and debt burden, say police
India

60-year-old farmer commits suicide in Maharashtra’s Mukhed village due to crop failure and debt burden, say police

A 60-year-old farmer allegedly committed suicide in Maharashtra’s Yeola apparently due to crop failure and debt burden

Why this millennial is voting for BJP after listening to Narendra Modi's speech at party's national convention
India

Why this millennial is voting for BJP after listening to Narendra Modi's speech at party's national convention

With Modi as my leader, New India is a possibility. And I sure want to be a part of that.