Urban cooperative banks account for bulk of fines by RBI. A significant share of these are for loans given to related parties — the overwhelming majority by institutions in Gujarat.
RBI has issued consolidated rules on wilful defaulters, dealing with their definition and treatment, including when the controversial compromise settlement process is involved.
Low-income households seek loans often, but credit is suitable if it helps sustain or improve financial well-being. This is what must be ensured by lenders, regulators & policymakers.
Industry data show that economically weaker borrowers are being forced to take loans, due to personal or work-related circumstances, at rates well above what they can afford.
Rising vaccination rates & declining Covid cases are fueling optimism that people are more willing to spend this year. Consumers are now turning to installment plans from retailers.
Of total loans disbursed to over 20 lakh street vendors until 29 March, PSBs gave loans to over 18 lakh applicants while private banks distributed loans to just 32,534.
With the ongoing conflict at the Red Sea, India needs to take a long-term view of the PLI scheme and its ambition to emerge as a hub of shipping containers.
Data shows large public sector banks received highest number of complaints in absolute terms, but fared better than several private banks when looked at on complaints-per-branch basis.
Su-30 & Hawk fighters demonstrated the facility's operational readiness. ELFs come in handy during emergency landings, help speed up disaster relief operations.
For BJP, CAA was strategic move that did not quite work out because those it would benefit could’ve been accommodated under existing laws, and new entrants would remain excluded.
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