Following an investigation, SEBI found several serious discrepancies and lapses in the way Ambani’s company Reliance Home Finance had disbursed loans, including to related parties.
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.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
Raj Kapoor’s mother used to tell him, when he was a child, A mother cannot share her Naseeb equally amongst her children, although she loves them equally.
Raj Kapoor’s mother used to tell him, when he was a child, A mother cannot share her Naseeb equally amongst her children, although she loves them equally.