Topic: Bank loans
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.
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 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.
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.
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.
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.
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.
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'.
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.
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.
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.
Defence
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.
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.