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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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Sponsored Post 27 July 2023
Purchasing your dream bike is no small feat. It takes a lot of research and planning. The most important factor that influences your buying decision is your finances. Ensuring you have sufficient funds to afford the bike of your choice is vital. An easy way to finance such big-ticket...

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Sponsored Post 27 July 2023
Your credit score plays a significant role in the approval and rejection of your credit card and loan applications. This three-digit number represents your creditworthiness and repayment capability. The credit score is computed by a credit bureau on the basis of multiple factors including...

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Sponsored Post 26 July 2023
Personal loan is an unsecured credit option offered by banks and NBFCs to help consumers meet their personal and business related financial requirements. Both salaried and self-employed individuals can avail the loan without pledging any collateral and with fewer formalities and quicker...

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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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Sponsored Post 21 July 2023
With digitisation, Personal Loan apps have become the preferred borrowing option for salaried and self-employed professionals. In fact, did you know that in India, the usage of Personal Loan apps has witnessed a significant surge, offering borrowers...

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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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Sponsored Post 13 July 2023
Is it your dream to have a home of your own? Are you ready to finally take the plunge and commit yourself to the process of buying a home? Are the constantly increasing home prices worrying you? Are you unsure about how will you finance your property purchase?   In this brief guide on...

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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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Sponsored Post 03 July 2023
Purchasing a home is a significant financial commitment for most individuals and securing the right housing loan is crucial to make this dream a reality. With numerous loan options available in the market, it's essential to carefully consider various factors before making a well-informed...

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Sponsored Post 27 June 2023
It isn't uncommon for businesses to rely on credit to keep operations running, and thankfully accessing loans has become quite easy. Business loans are now available online in just a few clicks, and most lenders even extend specialised offers.   This is mainly because the eligibility...

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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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Moneylife Digital Team 13 June 2023
Criticising the move by Reserve Bank of India (RBI) to allow banks and lenders to settle loans of wilful defaulters under compromise settlement, the All India Bank Officers' Confederation  (AIBOC) and All India Bank Employees Association (AIBEA) call it a detrimental step that may compromise...

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In a significant move, the Union Cabinet on Wednesday approved the third package for BSNL, as part of the revival strategy, with the total outlay of Rs89,047 crore.   It includes allotment of 4G and 5G spectrum for BSNL through equity infusion.   The authorised capital of BSNL...

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Moneylife Digital Team 31 May 2023
In a significant decision, while cautioning banks to adopt a humanitarian approach, the Kerala High Court (HC) ruled that an education loan cannot be rejected due to the low credit score of the applicant student.    In an order, the bench of justice PV Kunhikrishnan observed, "While...

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Sponsored Post 19 May 2023
As a doctor, you constantly strive to provide the best health care to your patients. Having the latest equipment and facilities can help you achieve this, but upgrading your practice is costly. Thankfully, a collateral-free, customised loan for professionals is a viable option to...

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