LOANS


IANS 13 December 2023
In a major development in the Mahadev Online Books betting money laundering case, one of the owners of the app, Ravi Uppal, has been detained by the Dubai police in UAE, sources said.   The sources said that Mr Uppal has been detained on the basis of the Red Notice issued against him...

Read More



IANS 11 December 2023
The Reserve Bank of India (RBI) on Monday issued a warning on misleading advertisements enticing borrowers by offering loan waivers.   There are reports of such entities charging a service/legal fee for issuing ‘debt waiver certificates’ without any authority.   These entities...

Read More



Moneylife Digital Team 11 December 2023
The recent judgement by the Supreme Court of India on the time-bound redemption rights of borrowers is advantageous for asset reconstruction companies (ARCs) as it protects genuine auction purchasers, reduces uncertainty, and maintains the sanctity of the auction process. The judgement is...

Read More



IANS 08 December 2023
The Reserve Bank of India (RBI) will soon lay down the regulatory framework for web-aggregation of loan products since the customers are being harmed now, said the Central bank Governor Shaktikanta Das.   “Several concerns relating to such web-aggregation of loan products harming...

Read More



Shirish Shanbhag 07 December 2023
For any meeting that is conducted in a cooperative housing society (CHS), a record of the minutes that contains the proceedings of the meeting and any decisions made therein is an absolute must. Ideally, the minutes should include the type of meeting they relate to, its date, time and venue,...

Read More



Moneylife Digital Team 06 December 2023
Holding State Bank of India (SBI) and SBI Life Insurance Co Ltd (SBI Life) guilty of unfair trade practice and deficiency in service in rejecting the death insurance claim of a borrower of a home loan, the national consumer disputes redressal commission (NCDRC) directed them to settle the...

Read More



Moneylife Digital Team 23 November 2023
The latest notification by the Reserve Bank of India (RBI) to increase the risk weights for consumer credit exposure (mainly on unsecured asset classes) of banks and non-banking financial companies (NBFCs) by 25% is likely to impact the loan sell-downs of personal loan retail pools which had...

Read More



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...

Read More



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...

Read More



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...

Read More



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...

Read More



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,...

Read More



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...

Read More



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...

Read More



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,...

Read More



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,...

Read More



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...

Read More



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...

Read More



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...

Read More



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...

Read More

Free Helpline
Legal Credit
Feedback