LOANS


IANS 08 August 2022
With the implementation of Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas (SVAMITVA) scheme and work from home culture getting in vogue, there is a spurt in housing loan demand in tier 3 and 4 districts. The growth has been registered more in the female...

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A total of 7,813 complaints have been received against banks and non-banking finance companies (NBFCs) pertaining to digital lending apps and recovery agents under the 'Integrated Ombudsman Scheme' of the Reserve Bank of India (RBI) during the period 1 April 2021 to 3rd March this...

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The cyber police in Puducherry has registered a case against 69 loan apps following complaints of extortion, threats and blackmailing by these fin-tech apps.   The cyber cell officials told IANS that a case has been registered under Section 66(A), 67, and 67(A) of the Information...

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Moneylife Digital Team 07 July 2022
While more and more e-commerce and financial technology (fin-tech) companies are joining hands with lenders to provide 'buy-now-pay-later' (BNPL) schemes, these products can impose high monetary costs and there are gaps in customer protection safeguards in many of them, says a research...

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More than one in two Indian consumers who use instant loan apps are facing very high interest charges, extortion and data misuse, as the Reserve Bank of India (RBI) takes a tough stand against unregistered digital loan lending apps, a new report showed on Tuesday.   While 58% of...

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Moneylife Digital Team 07 June 2022
Favourable conditions like rising income levels, improved affordability and fiscal support augur well for the demand for homes and housing loans in India will have an exponential growth trajectory for decades to come, says Deepak Parekh, chairman of HDFC Ltd.   In his final letter to...

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Moneylife Digital Team 26 May 2022
The Reserve Bank of India (RBI) has cancelled certificate of registration (CoR) of five Non-banking financial companies (NBFCs)  for violation of norms related to outsourcing and fair practices code in their digital lending operations. The banking regulator cited irregular lending practices...

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HDFC on Saturday announced that it would raise its Retail Prime Lending Rate (RPLR) by 30 basis points.   It would lead to an identical hike in home loan rates for exiting customers.   The hike will come into effect from May 9.   It had recently increased its benchmark...

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Moneylife Digital Team 23 March 2022
After facing public outrage over unaccounted loans appearing on the credit reports of people Dhani Loans and Services Ltd (Dhani) has called for a joint action from the digital lending sector to deal with the problem at a systemic level. To begin with, Dhani has requested credit information...

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IANS 04 February 2022
The Delhi High Court has restrained banks and housing finance companies from taking any coercive action to recover EMIs from homebuyers over incomplete projects on a plea by a group of homebuyers.   In a recent court order, the bench of Justice Rekha Palli, while hearing a case...

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Moneylife Digital Team 27 July 2021
The Delhi High Court (HC) has directed Reserve Bank of India (RBI) to come out with a clear stand for regulation of online lending platforms which are charging exorbitant interest rates from borrowers.    A report from LiveLaw says that  a division bench of chief justice DN Patel and...

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Moneylife Digital Team 15 July 2021
Securitisation deals gained traction in June after a subdued April and May, boosting the volume for the first quarter of this fiscal by nearly three times year-on-year (y-o-y) to Rs20,000 crore.   Nevertheless, this was still only half of the pre-pandemic average as volumes in first...

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Moneylife Digital Team 18 June 2021
Low interest rates have shifted many retail assets from the safety of bank fixed deposits to market-linked investments like bonds and debentures.   Although we do not suggest such investments for most people, due to the taxation of interest at marginal rate, borrower’s risk of default...

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The increased diversity in borrower profiles is indicated by the fact that, in 2020, 49 per cent of first-time borrowers were less than 30 years old and 71 per cent were based in non-metro locations, while 24 per cent were women, according to a joint report by Transunion CIBIL and Google...

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Brand Connect 19 May 2021
In case of financial emergencies, your first instinct may be to liquidate investments like fixed deposits. However, by doing so, you will be compromising on your investment goals. Typically, with liquidity in mind, you can also think of availing of a gold loan, to raise a hefty sum quickly....

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Moneylife Digital Team 05 May 2021
The Reserve Bank of India (RBI) on Wednesday decided to provide a window for restructuring to individual and small borrowers having a loan of up to Rs25 crore if it was not availed earlier. Further, the central bank announced Rs50,000 crore liquidity for ramping up COVID-related healthcare...

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Brand Connect 16 April 2021
Home loans can substantially impact your financial health and even your quality of life in the long run. The lending terms you agree to will dictate how financially comfortable or distressed you are for many years to come. Finding the right EMI amount, which is feasible as well as ensures...

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Moneylife Digital Team 07 April 2021
The Reserve Bank of India (RBI) has asked all banks and non-banks to refund interest-on-interest to all borrowers for the six month moratorium period that ended on 31 August 2020.   The central bank also clarified that asset classification of borrower accounts by all lending...

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The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company - Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter.   The average base rate charged during the...

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Moneylife Digital Team 23 March 2021
The Supreme Court on Tuesday rejected all pleas that were seeking complete waiver of interest on loan during the moratorium period granted due to COVID-19 pandemic. While refusing to interfere with the government and Reserve Bank of India (RBI)'s policy on loan moratorium, the apex court...

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