SBI ex-chair Pratip Chaudhuri has been accused of ‘conniving’ with asset reconstruction firm to wrongly declare a loan NPA, and sell property worth Rs 200 crore for Rs 25 crore.
If the device is a hit, there will be a surge of customer data that can stand in for collateral. A small band of policy influencers could help banks get their hands on it.
RBI data shows loans to companies and individuals have been growing at a subdued 5.5%-6% in recent months, which is half the pace seen before the pandemic struck.
Bank credit data between March 2020 and May 2021 shows overall loans given by banks decelerated in the second wave. But personal loans grew in double digits.
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.
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.
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 Narendra Modi government is looking at ways to check states’ spending on handouts like free electricity and rations. The first step is to tighten the noose on state borrowings.
Kashmir as a crisis has fallen off our headlines and from the top of our collective minds. Which is precisely the most important change for the better.