Beware: default on education loans creates adverse credit history
Television advertisements showing banks happily offering education loans are a little misleading. A senior Reserve Bank official, speaking at a MoneyLIFE workshop, said, “Repayment among young people is not very good,” especially compared to regular loans. A senior banker corroborates this view. “I have seen a lot of young...
Buyers of under- construction properties need some protection
India’s realty industry is in serious trouble and, with it, hundreds of thousands of investors who have booked brand new homes in the past couple of years. The demand for newly constructed property has dipped dramatically due to a combination of high construction costs, high interest rates and lower economic growth.
Leading...
Some important lessons on how not to do financial transactions
One reason why we help distressed consumers resolve their disputes is because it is frustrating to get past call-centre executives of finance and mobile phone companies. In some cases, disputes have dragged on for years and been resolved only after Reserve Bank of India’s intervention. In a majority of cases, the bank or finance...
