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Illustration by Ramandeep Kaur | ThePrint Team

Our dark financial tunnel could get longer — that’s the message from bad loans of SBI Cards

Credit card debt as a percentage of the total is tiny, but it is expensive credit, and default is usually a sign that personal finances are in trouble.
An employee counts Indian rupee banknotes at a Walmart Inc. Best Price Modern Wholesale store in Hyderabad, India, on 16 March 2019 (Representational Image) | Photo: Dhiraj Singh | Bloomberg

Your credit score won’t be impacted if you opt for loan restructuring. Here is why

Credit history only after debt recast would be taken into account for new loans. Banks will allow recast only if income impacted between February and August.
File image of the Supreme Court of India | Photo: Manisha Mondal | ThePrint

File Kamath panel recommendations on loan moratorium, Supreme Court tells Centre, RBI

SC's direction came after the Finance Ministry agreed to waive compound interest charged on loans of up to Rs 2 crore for six-month moratorium period announced due to the pandemic.
The Supreme Court in New Delhi| Photo: Manisha Mondal | ThePrint

Supreme Court restrains banks from declaring accounts as NPAs until further notice

A bench led by Justice Ashok Bhushan issued the interim order while was hearing a batch of petitions seeking waiver of interest on deferred EMIs during the moratorium period.
File photo of veteran banker K.V. Kamath (left) with RBI governor Shaktikanta Das | Twitter: Indian Embassy in the US

Delays feared in RBI’s debt recast plan as Kamath panel seeks clarity on members, deadline

RBI has given the Kamath committee no deadline to submit its suggestions on loan restructuring plan, while two of its five members are yet to join.

HDFC Bank has been delaying sharing its loans details, credit bureau complains to RBI

Experian Plc told RBI in July that HDFC Bank has been late in providing details of its loans, including repayment status of millions of retail borrowers.
(Photo for Representation)

Financial bailouts must be for struggling businesses to preserve jobs, not repay old debts

The Indian govt & the RBI launched many schemes to ensure availability of credit during Covid, but financial institutions are still cautious about new lending.
File photo of Prime Minister Narendra Modi | ANI

PM Modi meets top bankers, asks them to introspect, ensure stable credit growth

The PM also exhorted bankers to support small businesses, SHGs & farmers. He said banks should identify bankable proposals and ensure they don't suffer in the name of past NPAs.
The Supreme Court of India | Photo: Manisha Mondal | ThePrint

Banks tell SC they need to pay depositors, oppose pleas for interest waiver in moratorium

The banks received support from central government with solicitor general Tushar Mehta submitting that waiving off interest will have a 'cascading effect'.
Signage is displayed outside the IMF | Alex Wroblewski/Bloomberg

IMF ready to mobilise $1 trillion loan capacity to counter coronavirus

IMF has $50 billion in flexible and rapid-disbursing emergency funds for developing nations, with as much as $10 billion available at zero interest rates.

On Camera

Empty Sheikh Zayed Road during lockdown in Dubai | Bloomberg

What ails Arab economies is older than Covid-19

Dependence on oil and natural-gas exports and an over-reliance on Europe and US as trade partners have made it difficult for the region's integration into the world economy.
A motorcyclist wearing a protective mask rides past a Kotak Mahindra Bank Ltd. branch on a near-empty street in Mumbai, India. | Photographer: Dhiraj Singh | Bloomberg

How Kotak Mahindra Bank, IndusInd merger stacks up in numbers

The combination would boost its assets to Rs 7 lakh crore and cement Kotak’s position as India’s fourth-largest private bank, closing the gap with Axis Bank Ltd.


A file photo of Defence Minister Rajnath Singh, External Affairs Minister S. Jaishankar, US Secretary of State Michael Pompeo and US Secretary of Defense Mark Esper at the 2+2 dialogue in Washington in December 2019. | Photo: ANI

The 3 foundational agreements with US and what they mean for India’s military growth

Basic Exchange and Cooperation Agreement, the last of the key foundational agreements between India & US, was signed Tuesday. LEMOA was signed in 2016 and COMCASA in 2018.
Illustration: Soham Sen/ThePrint

Trump or Biden? Doesn’t matter to India-US ties as they’re in a full, strategic embrace

Pompeo & Esper’s visit to India for the 2+2 talks is proof that old hypocrisies are history, and supreme national interest has again driven a strategic choice.