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IANS 20 November 2023
Data and management commentaries across non-banking finance company (NBFC)/banks suggest rising delinquencies in unsecured loans, especially in small ticket size personal loans (STPL), less than Rs50,000, and loans sourced via fin-tech partnership, foreign brokerage Nomura said in a...

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IANS 17 November 2023
A Delhi court has dismissed a suit filed by the State Bank of India (SBI) for the recovery of Rs 13.51 lakh, along with interest, against a loan defaulter, who had passed away.   District Judge Surinder S. Rathi stressed on the proactive responsibility of banks, especially a leading...

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IANS 17 November 2023
The RBI on Thursday announced an increase of 25 percentage points in the risk weightage of consumer credit exposure of commercial banks and NBFCs from 100 to 125 per cent.   "The RBI has decided to increase the risk weights in respect of consumer credit exposure of commercial banks...

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Moneylife Digital Team 07 November 2023
While upholding an order passed by the state commission, the national consumer disputes redressal commission (NCDRC) directed L&T Housing Finance Ltd to pay Rs3 lakh compensation with 6%pa (per annum) interest and Rs25,000 cost for failing to return the original title deeds of a borrower in a...

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IANS 06 October 2023
The Reserve Bank of India (RBI) on Friday announced an increase in the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from Rs 2 lakhs to Rs 4 lakhs for urban co-operative banks (UCB) who have met the overall PSL target and sub targets as on March 31,...

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IANS 05 October 2023
The RBI on Wednesday formed an external working group to seek independent inputs on how banks could make provisions on bad loans using an expected credit loss (ECL) method which represents a major shift from the current incurred loss-based provisioning regime.   The RBI released a...

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Moneylife Digital Team 20 September 2023
We continue to hear stories of lenders losing mortgaged property documents of borrowers, resulting in mental agony and loss in value for the property. In another judgement on lost property documents, the national consumer disputes redressal commission (NCDRC) directed United Bank of India...

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Moneylife Digital Team 15 September 2023
Paying heed to the grievances of borrowers, the Reserve Bank of India (RBI) has directed all regulated entities (REs), like banks and financial institutions, to release property documents within 30 days after repayment or settlement of personal loans. In case of failure to release documents,...

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Ryan Gabrielson (ProPublica) 15 September 2023
This story was originally published by ProPublica.   Wall Street could always bank on used cars. In fact, for years, investors bought bonds backed by auto loans because they reliably produced handsome returns, even amid rocky markets and downturns in the economy.   But now,...

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Moneylife Digital Team 08 September 2023
Coming down heavily on ICICI Bank Ltd for not keeping safe an original property document of a borrower and trying to shift the liability to a courier company, the national consumer disputes redressal commission (NCDRC) says the safe custody of the original title documents to the property are...

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Moneylife Digital Team 23 August 2023
Refusing to intervene in the orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed IndusInd Bank Ltd to pay a compensation of Rs1.10 lakh to a borrower. The district forum had directed the Bank not to seek from the borrower any outstanding amount...

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Moneylife Digital Team 23 August 2023
Refusing to intervene in the orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed IndusInd Bank Ltd to pay a compensation of Rs1.10 lakh to a borrower. The district forum had directed the Bank not to seek from the borrower any outstanding amount...

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Moneylife Digital Team 18 August 2023
Reserve Bank of India (RBI) has issued guidelines to reset equated monthly instalments (EMIs) based on floating rate personal loans, including allowing borrowers to switch over to a fixed rate as per the bank board approved policy. Moneylife Foundation has been relentlessly campaigning...

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Moneylife Digital Team 10 August 2023
Reserve Bank of India (RBI) has decided to put in place a proper conduct framework to be implemented by all regulated entities (REs) to address issues faced by the borrowers, especially about interest rate reset on equated monthly instalments (EMI) for floating interest loans. Moneylife...

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Moneylife Digital Team 10 August 2023
Following the death by suicide of veteran art director Nitin Chandrakant Desai, one more borrower from the entertainment industry has levelled serious allegations against Edelweiss Asset Reconstruction Company (EARC) and top executives of the Edelweiss group. However, EARC says it is not the...

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Union finance minister (FM) Nirmala Sitharaman on Monday said in Lok Sabha through an intervention that all banks whether public or private have been instructed through the Reserve Bank of India (RBI) to deal with poor farmers in a humane and sensitive manner on the issue of repayment of...

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Driven by personal loan demand, the credit offtake from banks rose by 16.3% year-on-year (y-o-y), while the deposits grew slower at 10.2% during the last quarter of FY22-23, Credit Rating agency CARE...

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Residential housing loans' share on total advances rose to 14.2 per cent in March 2023 from 8.6 per cent in March 2012, according to RBI's financial stability report.   The report, which is a half yearly account of banks' health in the country, also noted that the housing sector in...

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The Reserve Bank of India (RBI) defined wilful defaulters a decade ago in its circular RBI/2013-14/63, DBOD No. CID.BC. 3 /20.16.003/2013-14 dated 1 July 2013. Wilful default broadly covered the following:   a) Deliberate non-payment of the dues, despite adequate cash-flow and good...

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Moneylife Digital Team  and   IANS 16 June 2023
The Reserve Bank of India (RBI) could levy penalties on banks for the loss of property documents that were pledged with them by borrowers if a recommendation by the high-level committee under former deputy governor BP Kanungo is accepted. Recently, the committee to review customer service...

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