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.
There are thousands of people who are troubled by threats & harassment of loan recovery agents, a problem exacerbated by proliferation of instant loan apps that offer money at a click.
The central bank said that Bajaj Finance did not issue key information to borrowers under the eCOM and Insta EMI Card lending products, which offer small-ticket consumer finance.
Geopolitical conflicts & new cold war have upended oil, various food and commodity markets. Climate-change issues will impose other costs. So, prices will rise even if demand is weak.
Minutes of Monetary Policy Committee meeting show that several members felt debt-fuelled consumption could become a ‘self-fulfilling prophecy’ to boost overall growth.
Bob World app has 8.1 million daily transactions, while 43% of time deposits are obtained through the app, the bank had said in its quarterly presentation in August.
RBI’s Consumer Confidence Survey released Friday also shows that a larger share of people had cut back on essential & non-essential spending as compared to July.
It will attract more foreign funds and support diversification of investor base. Continued focus on macro-stability and fiscal prudence will be crucial to navigate associated challenges.
The recent resignations of its seniormost judges are among the most pointed institutional protests Pakistan has witnessed since the lawyers’ movement of the late 2000s.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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